Some developments, such as residential developments, are often subject to planning obligations and payments secured via a Section 106 agreement.
Such agreements secure affordable housing units, contributions to open space, cycling, local schools etc. and are often key to providing infrastructure to support a new development within the locality.
There are, however, some issues to monitor as obligations can soon add up and can place some developments in danger of being unviable and therefore undeliverable for a developer.
We can advise as to the impact of contributions, drafting of section 106 agreements, levels of Community Infrastructure Levy (CIL) in an area and when bringing a site forward.
As registered valuers we are well placed to advise on the viability of proposals considering individual schemes and the level of contributions proposed.