The West Edenbridge project seeks to create two new villages on the outskirts of the town of Edenbridge on a site that spans the border between Kent and Surrey and between the Districts of Sevenoaks and Tandridge.
The Tandridge Local Plan is in the Examination in Public process and the Sevenoaks Plan has been rejected by the Inspectorate and a judicial review has been quashed in the High Court. Our scheme will generate 3,500 homes in Tandridge and 1,900 in Sevenoaks.
Tandridge’s plan falls short of its target and the 3,500 additional homes may be welcome. Sevenoaks is predominantly classified an Area of Outstanding Beauty (AONB) but our site is between two specific areas of AONB, making it an obvious location for housing growth. Edenbridge has been in decline for 20 years and this development would transform the local economy and create a balance to the town of Sevenoaks. There may be scope for further development in Edenbridge.
The scheme incorporates a secondary school which the town has lacked since 2002 and will create a more vibrant array of amenities for the benefit of new and existing populations.
The location is in rolling hills and the completed new settlements will enjoy a particularly attractive environment with a riverside park at its centre. The immediate road infrastructure is poor but Kent County Council has discussed with us how this can be improved.
Obtaining a planning consent may be slow but we are confident of success and local values will ensure an attractive return.
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
£2,454,700,000
6m
£174
£1.09bn
£24.3m
£31.2m
£205.1m
£6m
£29.7m
£31.2m
£490.75m
£544m
£544,000,000
£75m
£3.75m
£232k
Freehold
£78,982,000
36
£462m
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 - Sevenoaks
Affordable - Tandridge
5,400
1,285
4
24
60%
40
£420k
£462m
£100,741
£615k
16%
£58k
£400k
15%
440
1,115
40%
35%
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