Project: Peugeot Garage, Clapham Road, London SW4
Client: Notting Hill Housing
Date: Q1 of 2014
JLL provided valuation advice to facilitate the acquisition of the freehold interest in the land. The proposal is for a mixed-use development of 79 residential units, circa 33,000 sq ft of commercial floorspace (A1, A3 and B1 Use), associated amenity space and 21 car parking spaces. The scheme has a gross value of c. £52m.
To provide a formal Red Book valuation of each unit (private and affordable housing), and establish the Market Value of the site and the expected Gross Development Value of the completed development. In addition, we provided Market Rents for some units which could potentially be utilised as PRS accommodation.
- Instructed in January 2014 and NHH successfully acquired the site in March 2014.
- Valued the scheme on the basis of Market Value, Market Rent and Existing Use Value for Social Housing to ascertain the anticipated Gross Development Value.
- Prepared a full valuation report / comprehensive schedule of values / rents for NHH’s internal use.
- Ongoing advice in respect of update valuations.