126 TOTAL BUILDING COSTS & EXTERNAL WORKS 81 127 Pub/Restaurant 4484 £246,081,208 SUB‐TOTAL BUILDING COSTS & EXTERNAL WORKS 124 Total Uses 88 Business River Embankment Construction41795 Finance (interests on loans) 125 3250.00 52300 128 82 EXTRA WORKS Totals 89Overall Archaeological Survey TOTAL BUILDING COSTS & EXTERNAL WORKS 126 £1,975,625 129 Extra Works 83 Preliminaries or Contingencies [e.g. 5%] Specify %.>>> 90 Demolition Costs 127 £0 130 Professional Fees 84 91 EXTRA WORKS 128 Finance (interest on loans) £316,645 Specify %.>>> 131 85 External Works [unspecified - % sum [e.g. 20% of Build Costs] 5. FEASIBILITY ANALYSIS Third Iteration £2,563.00£221,566,880 £11,492,492 LAND BID BUDGET[£ lump sum] >>>>>>>>>>>> Sub-Total £24,514,328 £71,214,008 Land bid budget [£/m²] 10.0 £48,438,777 Legal Fees £138,433,258 £246,081,208 Existing Use Value of Development Site [Lump Sum] £16,611,991 5.15 526500 £5,658,850 £567,125 £45,000 >>>>>>>>>>>> £1,363,500 £0 <<<< Insert Value Type as lump-sum >>>>>>> Land bid budget [£/m²] Figure 17.1 - Extracted data from iteration 3 option 1. For full spreadsheet please refer to Appendix 3 £9,000.0 this will be negotiated through a section 106 agreement. The alternative we are proposing is to include these as a generic office space that would be rented to the 108 154 Housing Density 109 155 GROSS DEVELOPMENT VALUE private sector alongside other types of offices. Through running these calculations duration 110 All Market Housing For Sale GDV 156 Project development All Market Housing For Rent GDV 157 we found that our RLV per ha would increase to £4,613,217 which111 isTotal closer toperiod the(months) Option 2 £8,000.0 146 Planning Obligations 80.77 duration 110 Community Infrastructure Levy 147 Project £383,013,777 Total development period (months) 111 148 Affordable Housing Contribution in Lieu building period 112 48.0 (months) Other Contributions 149 Total Affordable Housing [For Sale[Shared Equity] GDV 158 Total building period (months) 52.8 112 113 150 Finance [interest on loans] 159 All Affordable For Rent [GDV] 113 All Commercial Development Value 160 Local Cost Adjustment 114 161 115 116 162 Modelling Options £158,682,000 £15,090,000 52.8 Commercial Sector [% of Gross Development Value] £1,352,212 £29,900,544 £179,341,233 1.00 TOTAL SCHEME COSTS [including profit, excluding land] 153 Modelling 116 Options Housing: Market Sector [% on All Costs] 9.200 Market Sector [% on All Costs] Housing: 19.05 1.00 £8,376,012 Housing: AH Sector [% on All Costs] 6.383 Commercial Sector [% on All Costs] 10.132 £6,000.0 £316,342,913 154Price Change FINANCIAL SUMMARY % of GDV Average £/unit House 0£ 1.00 CAPITAL PROFITS 117 House Price ChangeAverage £/m² 0 CAPITAL PROFITS 1.00 £4,167.3 £3,000.0 Land Bid Budget £48,438,777 12.65 £84,095 £971.3 £43,090,375 Build Cost Change 0 1.00 GROSS DEVELOPMENT VALUE £383,013,777 155 118 Build Cost Change 0 1.00 165 Building Costs, External Works & Extra Works £207,823,234 54.26 £360,804 £4,167.3 £158,682,000 119 --------------------------------------------------------------------------------------------------------------------156 All Market Housing For Sale GDV £5,000.0 166 All Professional Fees & SDLTax £36,369,959 9.50 £63,142 £729.3 119 LAND COSTS [Gross] 120 £0 157 All Market Housing For Rent GDV 167 BUILDING COSTS & EXTERNAL WORKS Planning Obligations & Other Contributions £7,023,800 1.83 £12,194 £140.8 £2,000.0 Building Costs including Contingencies £155,045,249 LAND + FINANCE + FEES £64,841,225 121 LAND COSTS [Gross] 120 168 Interest Charges on Loans £38,770,062 10.12 £67,309 £777.4 Affordable Housing [For Sale[Shared Equity] GDV £15,090,000 158 BUILDING COSTS & EXTERNAL WORKS £27,686,652 Finance (interests on loans) £10,467,880 122 169 External Works £44,587,946 11.64 £77,410 £894.1 Building Costs including Contingencies £155,045,249 LAND + FINANCE + FEES 121 Capital Profits £29,900,544 159 All Affordable For Rent [GDV] £13,954,072 LAND + FEES £54,373,344 123 Professional Fees 170 Gross Development Value (GDV) 100.00 £664,954 £7,680.2 £27,686,652 Finance (interests on loans) 122 External Works£383,013,777 Legal Fees £935,168 124 SUB‐TOTAL BUILDING COSTS & EXTERNAL WORKS 160 All Commercial Development Value £196,685,973 £179,341,233 £4,000.0 171 Capital Profits as a % on All Scheme Costs £13,954,072 LAND + FEES 123 Professional Fees 13.18% 163 117 Financial Environmen £0 172 126 TOTAL BUILDING COSTS & EXTERNAL WORKS £21,761,485 161 £218,447,458 124 SUB‐TOTAL BUILDING COSTS & EXTERNAL WORKS 162 Finance (interests on loans) 125 Stamp Duty Land Tax LAND BID BUDGET[£ lump sum] Land bid budget [£/m²] £1,000.0 £6,326,331 >>>>>>>>>>>> £196,685,973 £21,761,485 £47,111,845 Legal Fees 126 163 TOTAL BUILDING COSTS & EXTERNAL WORKSFINANCIAL SUMMARY £1,975,625 127 164 £0 Land Bid Budget 139 NHBC Fees 173 Marketing/Advertising 135 174 Selling Agents' fees [for housing] 136 141 Sales' Legal Fees 175 Selling Agents' fees [business] 142 Finance (interests on loans) 137 143 TOTAL FEES for MARKETING, PLANNING, SALES, etc 176 Planning Fees 138 140 Bank Intro and Exit Fees plus Monitoring Fee £489,600 £1,755,021 £432,000 £1,926,720 £8,000.0 £1,642,549 £42,441 £13,898,627 £156,924 £7,453,372 144 177 NHBC Fees 139 145 PLANNING OBLIGATIONS & OTHER CONTRIBUTIONS 178 140 Bank Intro and Exit Fees plus Monitoring Fee £1,001,780 146 Planning Obligations 147 Community Infrastructure Levy 148 Affordable Housing Contribution in Lieu 150 Finance [interest on loans] 141 Sales' Legal Fees £7,453,372 145 PLANNING OBLIGATIONS & OTHER CONTRIBUTIONS 146 Planning Obligations 147 Community Infrastructure Levy 157 All Market Housing For Rent GDV 149 Other Contributions 158 Affordable Housing [For Sale[Shared Equity] GDV 150 Finance [interest on loans] 163 164 165 166 167 168 169 170 171 £141.2 £5,000.0 £0 £0 £4,000.0 £1,361,622 £26,241,024 151 TOTAL OBLIGATIONS & CONTRIBUTIONS 177 178 £6,000.0 £286,163,032 Average £/m² £940.6 £3,687.6 £668.2 £141.2 £709.7 £860.3 £7,007.6 £3,000.0 Legal Fees on Sales 1.00 NHBC Fees & Bank Fees 1.00 0.00 1.00 Acres £894.1 6.000 164 165 167 168 £64,841,225 £10,467,880 £54,373,344 £935,168 £6,326,331 £47,111,845 £4,167.3 £448.68 £0 <<<< Insert Value 10/11/2016 £4,486,842 £0 0.00 £3,687.6 £5,000.0 Planning Obligations & Other Contributions All Professional Fees & SDLTax Building Costs, External Works & Extra Works £709.7 £141.2 £668.2 £178,032,000 £2,000.0 £0 £4,000.0 £14,640,000 £26,241,024 £132,091,233 £1,000.0 £940.6 FINANCIAL SUMMARY £ Land Bid Budget £47,111,845 Building Costs, External Works & Extra Works £184,707,526 All Professional Fees & SDLTax £33,471,650 Planning Obligations & Other Contributions £7,072,680 Interest Charges on Loans £35,550,181 Capital Profits £351,004,257 162 166 Copyright: Professor Stephen Walker Obligations, Contributio 0.00 Interest Charges on Loans £860.3 £8,434,302 £132,091,233 161 163 £7,000.0 £0 £14,640,000 154 FINANCIAL SUMMARY £ % of GDV Average £/unit Land Bid Budget £47,111,845 13.42 £81,791 GROSS DEVELOPMENT VALUE 155 Building Costs, External Works & Extra Works £184,707,526 52.62 £320,673 156 All Market Housing For Sale GDV All Professional Fees & SDLTax £33,471,650 9.54 £58,111 157 All Market Housing For Rent GDV Planning Obligations & Other Contributions £7,072,680 2.01 £12,279 Interest Charges on Loans £35,550,181 10.13 £61,719 158 Affordable Housing [For Sale[Shared Equity] GDV Capital Profits £43,090,375 12.28 £74,810 159 All Affordable For Rent [GDV] Gross Development Value (GDV) £351,004,257 100.00 £609,382 160 All Commercial Development Value Capital Profits as a % on All Scheme Costs 13.99% 172 173 174 175 176 Stamp Duty Land Tax 1.00 £8,000.0 £668.2 £6,070,900 153 TOTAL SCHEME COSTS [including profit, excluding land] 162 1.00 £709.7 £1,001,780 £351,004,257 148 Affordable Housing Contribution in Lieu £178,032,000 161 £6,000.0 £13,898,627 £286,163,032 156 All Market Housing For Sale GDV 152 £860.3 £8,434,302 153 TOTAL SCHEME COSTS [including profit, excluding land] 160 All Commercial Development Value SCHEME SUMMARY: Land Acquisition Legal F Estate Agents Fees Average Cost Components [£/ 1.00 0.50 0.75 £1,642,549 £1,361,622 152 159 All Affordable For Rent [GDV] Marketing/Advertising Planning/survey Fees SCHEME SUMMARY: 1 Average Cost Components [£/ £0.0 £1,755,021 £0 142 Finance (interests on loans) 144 155 GROSS DEVELOPMENT VALUE 4.5 either £971.3 £7,000.0 £6,070,900 151 TOTAL OBLIGATIONS & CONTRIBUTIONS 154 Building Costs Professional Fees or Average Cost Components [£/m²] £489,600 £0 Copyright: Professor143 Stephen Walker TOTAL FEES for MARKETING, PLANNING, SALES, etc 149 Other Contributions Finance Charge Wei 0.00 £43,090,375 £448.68 £971.3 Stamp Duty Land Tax £218,447,458 Average £/unit LAND BID BUDGET[£ lump sum] >>>>>>>>>>>> £Existing Use Value of Development Site [Lump Sum] % of GDV Average £/m² £0 <<<< Insert Value £0.0 £3,000.0 Land bid budget [£/m²] £48,438,777 12.65 £84,095 £971.3 1 128 165 EXTRA WORKS Building Costs, External Works & Extra Works £316,645 LAND BID /HECTARE [£] £207,823,234 54.26 £360,804 £4,167.3 £1,975,625 129 166 Extra Works All Professional Fees & SDLTax £36,369,959 9.50 £63,142 £4,486,842 £729.3 Existing Use Value of Development Site [Lump Sum] Future Use Value £2,292,270 132 TOTAL EXTRA WORKS Figure 17.2 Extracted data from iteration 3 £0 130 167 Professional Fees Planning Obligations & Other Contributions £7,023,800 1.83 £12,194 £0 £140.8 Existing Use Value 133 £2,000.0 Copyright: Professor Stephen Walker 2. 168 Finance (interest on loans) LAND BID /HECTARE [£] 131 Interest Charges on Loans option £38,770,062 10.12£316,645 £67,309 Uplift Multiplier 0.00 £777.4 134 FEES for MARKETING, PLANNING & LETTINGS 169 Capital Profits For £44,587,946 11.64please refer £77,410 £894.1 £432,000 135 Marketing/Advertising full spreadsheet to Appendix 4 Future Use Value £2,292,270 132 TOTAL EXTRA WORKS £1,926,720 136 Selling Agents' fees [for housing] 170 Gross Development Value (GDV) £383,013,777 100.00 £664,954 £7,680.2 Existing Use Value £42,441 137 Selling Agents' fees [business] 133 171 Capital Profits as a % on All Scheme Costs 13.18% SCHEME SUMMARY: £156,924 138 Planning Fees £1,000.0 Uplift Multiplier 172 FEES for MARKETING, PLANNING & LETTINGS 134 128 EXTRA WORKS 175 129 Extra Works 176 130 Professional Fees 177 131 178 Finance (interest on loans) 0 Hectares19.05 Other Contributions 1 Acre 0.404686 All Professional Fees & 6.383 £777.4 sq feet SDLTax 10.132 10.763910 1 sq metre £140.8 Building Costs, External sq metres Works & Extra Works 1 sq foot 0.092903 £729.3 by 5%. By doing this and replacing the house types with market house types we 173 calculations we found that our RLV per ha would increase to £4,486,842 which 127 174 Interest rate (%pa) £4,613,217 --------------------------------------------------------------------------------------------------------------------- enter into negotiations with the council to allow the reduction of affordable housing believe that we will be able to reach the target land value. Through running the 125 Finance (interests on loans) 1.00 £7,000.0Value]Planning Obligations & Commercial Sector [% of Gross Development 6.000 1 Hectare 2.471059.200 £4,000.0 Housing: AH Sector [% on All Costs] Commercial Sector [% on All Costs] Capital Profits Housing: AH Sector [% of Gross DevelopmentConversion Value] Table 16.000 £5,000.0 52.8 [% of Gross Development 52.8 Value] £0 Housing: AH Sector 164 In order to retain the council offices and to meet our target land 118 value, we would again is closer than the previous iteration. Housing £0 Specify <<<< Insert Value other… Housing: Market Sector [% of Gross Development Value] 16.000 £729.3 Interest Charges on Loans £6,026,400 PROFIT RATE 48.0 48.0 £0 Housing: Market Sector [% of Gross Development Value] £0 48.0 Cost Adjustment 114 TOTAL OBLIGATIONS & CONTRIBUTIONS 151 Local 152 115 £997,400 1.00 0.88 LAND BID /HECTARE [£] options that will allow us to achieve the target of £4,500,000 per hectare. target than previous iterations. £48,438,777 Industrial £461.32 Offices SCHEME SUMMARY: Average Cost Components [£/m²] The site includes a plot of land for the council to develop their new offices on, 0.85 £351,004,257 £1,975,625 129 92 Extra Works Type as lump-sum Existing Use Value of Development Site [Lump Sum] >>>>>>> 86 TOTAL EXTRA WORKS £4,613,217 Future Use Value £2,292,270 132 £0£1,975,625 130 87 Abnormal Costs TOTAL EXTRA WORKS >>>>>>>>>>>>>>>>>>> CALCULATOR 93 Professional Fees £0 Efficiency Ratio Existing Use Value 133 88 River Embankment Construction Type as lump-sum >>>>>>> £567,125 Retail 0.85 NUMBER Finance (interest on loans) £316,645 131 £Rate/m² 94 Planning Obligations and Other Contributions environment Total Payable Professional Uplift Multiplier 0.00 134 FEES for MARKETING, PLANNING & LETTINGS 89 Archaeological Survey Type as lump-sum >>>>>>> £45,000 Industrial 1.00 Plus % £432,000 135 Marketing/Advertising 95 Planning Obligation Contribution [£] [Combined] £20.00 Professional fees [%] (architects...) £1,001,780 12 90 Demolition Costs Type as lump-sum >>>>>>> Offices 0.88 Minus % Future Use Value TOTAL EXTRA WORKS £2,292,270£1,363,500 132 £1,737,720 136 Selling Agents' fees [for housing] 96 Community Infrastructure Levy [£] on Market Homes onlyType as lump-sum >>>>>>> £3,429,000 Legal fees [%] (site acquisition) 1.00 £100.00 1.75 91 Housing RESULT Existing Use Value £56,616 137 Selling Agents' fees [business] 133 92 Type as lump-sum >>>>>>> Specify £294,720 97 Community Infrastructure Levy [£] Offices £20.00 Legal fees [%]other… (sales of units) 0.5 £173,024 138 Planning Fees 93 Uplift Multiplier FEES for MARKETING, PLANNING & LETTINGS 134 98 Community Infrastructure Levy [£] Retail Selling Agents' fees [%] (housing) £100.00 £2,151,300 1 £489,600 139 NHBC Fees £Rate/m² 94 Planning Obligations and Other Contributions Financial Environment Total Payable Professional environment Marketing/Advertising 135 140 Bank Intro and Exit Fees plus Monitoring Fee 99 Community Infrastructure Levy [£]£8,377,825 Industral/Warehousing Selling Agents' fees [%] (business) £100.00£432,000 £106,200 0.75 95 Planning Obligation Contribution [£] [Combined] £20.00 Professional fees [%] (architects...) Interest rate (%pa) 4.5 £1,001,780 12 Selling Agents' fees [for housing] £1,737,720 136 Community £9,000.0 141 Sales' Legal Fees 100 Infrastructure Levy£100.00 [£]£1,915,069 Others [combined] Marketing/Advertising fees [%] <<< £20.00 £89,680 96 Community Infrastructure Levy [£] on Market £3,429,000 Legal fees [%] (site acquisition) Homes only 1.75 £1,823,623 142 Finance (interests on loans) £56,616 137 Selling Agents' fees [business] 101 Marketing/Advertising lump sum [£] <<< £Rate/Unit £432,000 £294,720 97 Community Infrastructure Levy [£] Offices £20.00 Legal fees [%] (sales of units) 0.5 Finance Charge Weighting £15,005,477 143 TOTAL FEES for MARKETING, PLANNING, SALES, etc Planning Fees 138 AH 98 Community Infrastructure Levy [£] Retail 102 Selling Agents' fees [%] (housing) Building Costs £100.00 £2,151,300 1 Financial Contribution in Lieu [£] £0 NHBC Fees £0.0 £173,024 £489,600 144 99 Community Infrastructure Levy [£] Industral/Warehousing Selling Agents' fees [%] (business) Professional Fees £100.00 £106,200 NHBC Fees £489,600 0.75 139 £8,000.0 103 Planning Fees [£] £156,924 145 PLANNING OBLIGATIONS & OTHER CONTRIBUTIONS 100 Community Infrastructure Levy [£] Others [combined] Marketing/Advertising fees [%] <<< either Marketing/Advertising Fees £20.00 £89,680 £8,377,825 140 Bank Intro and Exit Fees plus Monitoring Fee £997,400 146 Planning Obligations 104 £6,326,331 101 Marketing/Advertising lump sum [£] <<< or Stamp Duty Land Tax [%]Planning/survey Fees £Rate/Unit £432,000 £6,026,400 147 Community Infrastructure Levy Sales' Legal Fees £1,915,069 141 102 AH Financial Contribution in Lieu [£] £0 NHBC Fees Land Acquisition Legal Fees £0.0 £489,600 2.00% 105 Land Bank Intro Fee £894.1 £0 148 Affordable Housing Contribution in Lieu £1,823,623 £156,924 142 Finance (interests on loans) 103 Planning Fees [£] Estate Agents Fees £7,000.0 £0 149 Other Contributions 106 Total Site Area (m²) 105,000 Bank Exit Fee 2.00% 104 Stamp Duty Land Tax [%] Stamp Duty Land Tax £15,005,477£6,326,331 143 TOTAL FEES for MARKETING, PLANNING, SALES, etc £1,352,212 150 Finance [interest on loans] 107 Total Site Area for Housing (m²) 71,310 Bank Monitoring Fee £25,000.00 2.00% 105 Land Bank Intro Fee Obligations, Contributions & Other Levies 144 £777.4 £8,376,012 151 TOTAL OBLIGATIONS & CONTRIBUTIONS 80.77 108 Housing Density 106 Total Site Area (m²) 105,000 Bank Exit Fee Legal Fees on Sales 2.00% 152 145 PLANNING OBLIGATIONS & OTHER CONTRIBUTIONS £6,000.0 £140.8 107 Site Area for Housing (m²) 71,310 Bank Monitoring Fee £25,000.00 NHBC Fees & Bank Fees PROFIT RATE 109 TOTAL SCHEME COSTS [including profit, excluding land] £316,342,913 153 Total In order to increase the residual land value further we have come up with two Option 1 £10,223,301 £961,556 £132,091,233 £6,507,276 Retail Type as lump-sum >>>>>>> LAND BID /HECTARE [£] £27,686,652 20.0 £162.00 Sub-Total £461.32 Type as lump-sum >>>>>>> Stamp Duty Land Tax Type as lump-sum >>>>>>> LAND BID BUDGET[£ lump sum] % of GDV £0.0 13.42 52.62 9.54 2.01 10.13 Average £/unit £81,791 £320,673 £58,111 £12,279 £61,719 Average £/m² £940.6 1 £3,687.6 £668.2 £141.2 £709.7 £3,000.0 £3,687.6 17 £2,000.0 10/11/2016