Viability Analysis
Design Study
Whether it's using your own architectural drawings or by producing an in-house feasibility proposal, the first and most important stage of any feasibility study is to analyse the design. We're looking to answer two questions in this stage: what makes the property stand out, and is it well-suited for its purpose? These are critical considerations that we need to have answered to inform our market study.
Market Assessment
To understand whether a project is right for you means ascertaining whether you'll be better off at the end of it - and an important part of that is assessing what impact it'll have on the value, freehold or leasehold, of your property. We'll conduct a comprehensive search of comparable properties to obtain current market data, and obtain historic price paid statistics - coupled with our extensive market knowledge and any design study we've undertaken, we'll use this to make a professional assessment of the market value of your proposal.
For leaseholds...
- Maintenance costs:
- How old is the boiler?
- What's the condition of the roof?
- Is there a sinking fund?
- Tenancy management:
- Preparing Schedules of Condition & Dilapidation
- Negotiating dilapidation liabilities
- Marketing & negotiating new tenancies
For freeholds and new projects...
- Solicitors' & agents' fees
- Finance costs - fees and interest
- Party Wall Act fees
- Remediation of contamination
- Flood risk modelling & abatement costs
- New or altered access or service routes and capacities
- Landscaping
- Asbestos management surveys & disposal
- Per square metre build and conversion rates
- Green technologies
- Business Rates
- Building Control & Warranties
Costs Study
The final component of any robust viability study is an assessment of the costs that come with a project - even if that project is a simple continuing tenancy. We'll bring our extensive knowledge of a wide variety of property issues to bear, backed up by industry experience and data, and anticipate the costs you're likely to face. Some of the things we'll consider are:
