Affordable Housing and Viability
Affordable housing is now a policy requirement on most residential developments in the UK
We provide our clients with an in-depth understanding of the financial viability position of their development proposals; the subsequent S106 obligations and the affordable housing packages that these can support; and how this lines up with the local authority’s requirements.
Establish the feasibility of residential development
The twin pressures of undersupply and affordability in the UK’s housing market has made a policy seeking affordable housing an inevitable consequence for the majority of residential development schemes. It is therefore essential for land owners developers and planners when establishing the feasibility of any scheme to understand what is required by the policies of the local authorities concerned. It is equally important for planning authorities to be assured that schemes provide an optimum level or mix of affordable housing.
Our team advises both local authorities and developers
BNP Paribas Real Estate is widely regarded as the number one adviser for providing expert advice regarding S106 obligations and affordable housing requirements, and plays an active role in the formulation of viability best practice guidance and appraisal toolkits in the market. The BNP Paribas Real Estate team advises both local authorities and developers, and has extensive experience in producing financial appraisals based on constantly evolving guidelines.
BNP Paribas Real Estate also have extensive experience in developing robust viability evidence bases to support emerging planning policy. Following the introduction of the Community Infrastructure Levy (CIL) BNP Paribas Real Estate has advised 71% of the local authorities in London and a significant number of other local authorities across the UK.
The team also specialise in negotiating S106 agreements and advising on the requirements of different Registered Providers and the level of specification needed to deliver best value.
The BNP Paribas Real Estate team advises both developers and Registered Providers on the sale or acquisition of affordable housing within new developments.
At BNP Paribas Real Estate, our residential viability offer is holistic
- S106 Negotiation
- Viability Appraisals
- Disposal & Acquisition of S106 Affordable Housing
- Expert Witness
- CIL Viability Evidence Base Production and Advice
- Local Plan Viability Evidence Base Production and Advice
- Affordable Housing Policy Viability Testing
- Masterplan Viability
- Option Appraisals