RTPI London Young Planners, in association with Lambert Smith Hampton hosted a CPD breakfast event Viability for Beginners on Friday 26th April. The session was presented by James Brierley, Director of LSH’s Residential Advisory Team. James presented on key themes and assumptions in viability in relation to the planning process and development schemes.
James started off with the background to viability in planning with its roots in the 1990 Planning Act and the proposed utilisation of planning gain from increased land value to deliver infrastructure, affordable housing and other improvements. This was then followed with an overview of changes in the economic climate which have lead to the increasing importance of viability testing for development schemes which are unable to fulfill planning policy requirements whilst also providing adequate developer profit.
James touched on the importance of establishing the Market Value rather than Existing Use Value of a development site as part of the viability assessment. The presentation concluded with some key tips to consider when reviewing the viability of a scheme from a planning perspective:
The presentation was followed by a question and answer session with questions focused on CIL and potential pitfalls and challenges which James suggested included the geographical boundaries which will inevitably include areas of discrepancies. There was an excellent turnout for the event with approximately 90 delegates turning up to enjoy the presentation and also the breakfast provided.
We would like to extend our gratitude to the LSH Planning and Development Consultancy Division for sponsoring the event. Thank you also to all of the delegates who attended.
If you would like to view James’ well-illustrated presentation, please follow this link.