Feasibility, Residential Development – Bishops Avenue, London N2
Client: Confidential (Dubai investment fund)
Contract Value: £50 million
Our client sought to acquire four properties, known as The Collection, with the intention of demolishing the existing houses and constructing four larger higher specification properties with the intent to sell.
We put together a team of experienced consultants and contractors to undertake a detailed feasibility to enable the client to prepare a competitive market bid for the properties.
Due to market competition, the timescale for delivery of the feasibility report was compressed into a two-week period.
The sites came with existing planning consent, however, the pre-start conditions imposed onerous liabilities on the developer which affected the viability of the programme for the proposed works.
The detailed feasibility enabled the client to fully assess the risks and value the scheme viability, which ultimately led to the withdrawal of the offer to purchase.