LONDON DEVELOPMENT PROJECT As a member of the Development Team for WestProp Developments Ltd you have been asked to search for, select and assess a suitable site to be purchased by the company in Central London. The site should be located within one of the Inner London boroughs. You are required to assess the site’s suitability for a new mixed-use development to include a primary element of min. 10,000 to max. 20,000 sq ft of new office space and ancillary residential or retail use. The budget allocated for this new development is maximum £50m based on equity and debt including the purchase of the site and completion of the proposed development. ASSIGNMENT 1: DEVELOPMENT FEASIBILITY REPORT Initially WestProp are looking to find a suitable site and require a written report that covers the following aspects: • Client Context – risk appetite and development objectives; • A Site Overview including but not limited to – current use, planning history, clear location and maps, etc; • Evaluation of the national, regional and local policy relating to planning, transport and environmental matters relevant to the commercial sector and likely to affect decisions on your selected development site. • Market analysis supporting choice of site and the use types (office, residential and/or retail); • Massing Proposal including proposed layout (footprint + number of floors – these do not require a detailed architectural layout or drawings) taking into considering options to demolish existent building and redevelop the site or keep part of the structure and refurbish/expand with a modern sustainable building concept that meets the planning requirements of the local authority; • A Project Time Line; • Conclusions and Recommendations (full information attached)
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