This scheme is different in that it is a new community adjacent to a sprawling village of 12,700 (Chalfont St Peter) which in turn, is next door to a small town (Gerrards Cross, pop 8,000) with a commuter railway station.
The single landowner is a registered medical charity and we will share the planning gain equally. This is a very high value area in the foothills of the Chiltern Hills. The hills have AONB status and this site is greenbelt but not AONB, rare in Chiltern District.
We will create and initially support a shuttle bus service to Gerrards Cross station and propose to create a dedicated cycle route. The station is 3.5 miles distant. Local amenities in Chalfont and Gerrards Cross are good, so our focus is on meeting immediate needs so as to minimise car use. We plan both primary and secondary schools which will create 800 surplus secondary places for the benefit of the wider community.
Housing will use 60% of the land area and our masterplan preserves 29% as open space so that the development has a green and leafy feel, consistent with local built environment.
This scheme addresses 40% of the recent rise in Chiltern District’s housing allocation and thus we believe it will be well received by both District and Unitary authorities.
From the investor’s point of view, high values offset the fact that this is a 50/50 JV with the Charity and because we should obtain planning relatively quickly, returns should be very attractive.
GDV
GEA
Constr. PSF
Constr. Cost
Fees
Interest
Builders
Marketing
Sales
Comm. Levy
Dev. Profit
Residual value
Site valuation
Current site price
Stamp duty
Legal
Tenure
Secured Options
Total site costs
Plan months
Plan uplift
£1,435,800,000
3m
£164
£521.5m
£14m
£21m
£65.3m
£3.5m
£16.7m
Exempt - £15.4m
£287.5m
£490.8m
£490,800,000
£3m
£150k
£17k
Freehold
£3,167,000
15
£486m
Homes
Acres
Homes/Acre
Homes/Hectacre
Area
Hectare Density
Value/Acre
Plan gain (M)
Plot Cost
Average Home
Plot/Sales Value
Cost Gross Acre
Margin Per Acre
Buy In % Exit
House PSF
Size ft sq.
Affordable
2,340
240
10
24
60%
40
£2.05m
£243m
£209,744
£790k
27%
£13k
£2m
50%
530
1,285
40%
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