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Guildford Borough Council adopted its plan in February, 2019. The Plan was found sound at inspection but it lacks delivery of houses in the first 5 years.
Our scheme is close to allocated sites so we know that the area is approved for development and the strength of our proposal is that we can deliver 560 homes within the first 5 years of the Plan period.
It is a small scheme and we believe we will be able to obtain consent before December 2021 and thereafter sell the land in one go to a housebuilder that is keen to get a foothold in NW Surrey.
As the site is of modest size and there are adequate amenities close by, our focus is to build on 70% of the land and retain a green centre to the development. The land is on a hillside and future residents will have a view over the lake situated below our site. House values here are relatively high and a speedy return for investors will ensure an attractive return.
The location enjoys good road links to Guildford, Woking and the M25 motorway. London is accessible by rail from either Woking or West Clandon. We plan a cycle route to West Clandon station which is a 15 minute journey.
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
£311,736,000
600k
£162
£97.1m
£3.7m
£18.6m
£17.3m
£830k
£3.7m
£9.1m
£62.5m
£98m
£98,000,000
£13m
£650k
£31.5k
Freehold
£13,681,500
12
£83m
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
560
46.5
12
29
70%
42
£2.1m
£83m
£175k
£700k
25%
£280k
£1.8m
16%
600
1,070
40%
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