Project
Eddisons has been appointed by Portsmouth City Council to provide development & CPO consultancy advice on City North.
This 37-acre regeneration site proposes 3,000 residential units and approximately 10,000m2 commercial space.
It will include investigating CPO cost estimates to progress site acquisitions and reviewing the City Centre North SPD.
Approach
Eddisons’ key tasks include:
- Completing a Viability Assessment
- Identifying development options e.g., sale/JV/direct, etc.
- Conducting development appraisals
- Acquisition advice via CPO
Eddisons is supporting the site assembly, which will be followed by a review of market interests.
Results
We identified project risks/mitigations to ensure a clean title, and influenced the development density for the planning brief to improve viability and added value through:
- Early engagement with statutory consultees
- Early preparation of site due diligence/surveys to inform abnormal costs and improve bidders’ capital receipt forecast
- Robust values underpinned by research on demand and capital market deals ensured the master plan was aligned with market sentiment
- Navigating through development sites to achieve maximum value and deliver positive regenerative/social value outcomes
- Preparing a Land Acquisition Strategy Report to outline the CPO process and its interrelationship between ongoing voluntary acquisitions, scheme planning/viability, and development delivery structure