A Financial Viability Assessment (FVA) is typically required for residential planning applications, to assess the level of affordable housing and other developer contributions a site can viably support.
It can also be used to make a case to vary an existing Planning Obligation (Section 106 requirement).
Many Local Planning Authorities will require a viability assessment during the pre-application planning consultation stage, or as part of planning application validation requirements.
Evaluating a scheme’s viability is a highly technical exercise, involving several specialist property disciplines.
At Vail Williams we have extensive experience in providing viability assessments throughout England for a wide range of developments, including:
- Large multi-phase housing developments of 1,000+ dwellings
- City centre mixed use and regeneration schemes
- Smaller developments from single plots
- “Super Prime” housing conversions and developments in central London
- Specialist ‘Build to Rent’ development.
We harness the collective experience and market intelligence of our expert team to gauge viability – from building consultancy through to our construction project managers, rights of light experts and our sector-focussed transactional teams.
Our site-specific viability appraisals can:
- Support promotion of sites for allocation via the Local Plan process
- Provide pre-acquisition due diligence and support bids
- Provide the case to negotiate planning obligations including affordable housing
- Support enabling development, assess options for re-use, redevelopment or significant intervention to listed buildings
- Renegotiate existing planning obligations; and
- Secure Exceptional Circumstances Relief from CIL liability
We also provide independent third-party review of site-specific viability cases prepared by others, as well as acting as Expert Witness on deliverability and viability at Appeal and Local Plan Examinations.