Viability assessments
Cluttons in Maidstone was instructed by London Borough of Croydon to undertake viability assessments of three major schemes in Croydon, including a large mixed-use scheme adjacent to East Croydon station known as the ‘Menta’ towers.
The architect, MAKE, designed this highly sophisticated scheme to Sustainable Code Level 4, to include 1,042 residential apartments and 430,000 sq ft of office accommodation, in four high rise towers.
Cluttons’ work included examining over 100 plans and drawings, detailed schedules of accommodation, collecting and checking comparable evidence, and considering the current use values of principally office, warehouse and car park units, in order to determine in lieu payments for affordable housing quotas and generally assessing the impact of affordable housing on land values.
Detailed discussions were held with the borough planning officers and the applicant’s representatives, and we submitted formal reports, for both public and private consumption; the former deleting reference to commercially sensitive figures.
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