Southwark Development Appraisal

BOROUGH

DESIGN REPORT

UNIVERSITY OF WESTMINSTER | AURD717 DEVELOPMENT PROCESS | SIMONE GOBBER

29

BOROUGH INTRODUCTION TO THE SITE PLANNING FOR THE COMMUNITY EXPLOITABLE AREA DEFINING THE SITE DESIGN PRINCIPLES MASSING AND SCALE PARAMETERS SPATIAL LAYOUT SUN AND SHADOW GROUND FLOOR PLAN FUNCTIONS SECTIONS OPEN SPACES FUTURE ARMATURE

30

FINANCIAL APPRAISAL

31

SITE1 SITE2 SITE1 + SITE2 DIFFERENT OPTIONS

3 4 5 6 7 8 9 13 16 18 19 20 23 27

36 40 40

INDEX page 2

BOROUGH

N page 3

SCALE 1:1250

0

10

20

30

40

50

100

View of the area

A city in transformation As part of Southbank, the Borough area is undergoing a massive process of transformation, that will in the close future completely redefine its character. The present study is testing different development options, aiming to provide fruitful indication for the time to come.

INTRODUCTION TO THE SITE page 4

One of the sign at the “March for Homes� that took place in London iin 2015.

Children demonstration against the redevelopment of Brandon House

Common issues, community solutions Any radical urban transformation risks to compromise the life of the community of residents. The main challenge of the redevelopment is to respond to the strong demand of new housing in the area, without compromising the provision of green areas and public open space.

PLANNING FOR THE COMMUNITY page 5

0

50

100

150

200

DEMOLITION

ET HS TRE

T

STR E

no restriction

HIG

ON

ET

BOR OU GH

STRE E

UNI

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

SOUTHWARK STREET

height restriction use restriction

0

MA

RSH A

RESTRICTIONS

0

N

LSEA

0

50

100

100

15

ROA D

SCALE 1:2500 50

50

100

0

50 150

100

150

200

200

Where to intervene?

Matters of fragmented land ownership and pre-existing restriction often compromise the viability of radical development schemes. For this reason in this study it was chosen to intervene only on the sites that have been identified as more likely to be changing in the next future.

Most of the buildings demolished will be redeveloped in place maintaining the same function. As for the former Brandon House, in this scheme it has been adopted the redevelopment by Allies and Morrison, whose planning consensus has already been given by the local authority.

EXPLOITABLE AREA page 6

0

SOUTHWARK STREET

site2 0.97 HA

ET

5.2 HA

HS TRE

T

site3 0.24 HA

STR E

HIG

ON

ET

BOR OU GH

STRE E

UNI

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

site 1 site 2

site1

0.97 HA

(net area of intervention)

2.5 HA

site 3

0.24 HA

MA

RSH A

0

N

LSEA

ROA D

SCALE 1:2500 50

100

0

50 150

100

150

200

200

One area, different sites.

Due to the current complexity and fragmentation of the area, it was chosen to divide what has been identified as exploitable area into three different sites. As for the main one, the evaluation will consider both the entire site and the net area of intervention.

The proposed scheme allows the redevelopement of the three sites as different operetions in terms of time and management. Nevertheless, this brief suggests design elements and principles in order to achieve a cohesive transformation for the entire area.

DEFINING THE SITE page 7

1

Increased 1 permeability

2

Community 2 open space 0

50

100

150

200

0

50

100

150

200

4

3

Densifying 3 the urban fabric

Shared private 4 open space 0

50

100

150

200

5

0

50

100

150

200

6

A wider 5 public realm

Agopunctural 6 infill 0

50

100

150

200

0

50

100

Development guidelines The transformation of the area is led by few simple principles making the new development cohesive with the pattern of buildings and spaces of the exsisting urban fabric, and refer ing at the same time to forms and typologies occurring in similar contemporary development in London

DESIGN PRINCIPLES page 8

150

200

View of the study model

Considering options The area currently presents buildings and spaces that vary dramatically from the two stories Red Cross cottages to the planned eight stories redevelopment of Brandon House. At the same time, it belongs to a broader area in London where skyscrapers coexist with suburban-like elements.

The different options presented in this study take in consideration the diverse context of the area, proposing on a similar spatial layout three different approaches in terms of the scale and the impact of the new development.

MASSING AND SCALE page 9

View of the study digital model

Climbing over the top The current guidance from the local planning authority suggests that the ideal height for any new development should be between six and eight stories, reflecting the current state of the area. At the same time several high rise buildings appeared recently in the surroundings of the sites.

This created a precedent in the area for development over the guidance standards, changing the local character and expanding the range of height difference between buildings. The first option takes this into account, testing the impact of medium rise elements up to fifteen stories height.

MASSING AND SCALE: OPTION 1 page 10

View of the study digital model

Six to seven storeys The second option presented sets a limit of six stories for the new development, allowing an extra level for roof top houses. The general height varies according to the context, down to two to four stories for new building adjacent to listed buildings such as the Red Cross cottages.

MASSING AND SCALE: OPTION 2 page 11

View of the study digital model

Refurbishment vs demolition In the third presented option the two existing housing estates on the site (formerly social housing) are retained and refurbished. While mitigating the visual an social impact of the new development, this option drastically redefine the amount of total units that the scheme can deliver.

MASSING AND SCALE: OPTION 3 page 12

9000 sqm

currently on site 17% of total area

Pubblicly accessible open space currently on site 0

50

100

150

200

ET HS TRE

T

STR E

HIG

ON

ET

BOR OU GH

STRE E

UNI

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

SOUTHWARK STREET

17,400 sqm

+93% 1/3 of the entire site

MA

RSH A

0

N

LSEA

ROA D

SCALE 1:2500 50

100

0

50 150

100

150

200

200

Publicly accessible open space Developing an area with a high proportion of unbuilt space is always perceived as a loss from the residents.

It is therefore of extreme importance to distinguish generic unbuilt space from the open space that is publicly accessible and presents a high environmental quality.

The new scheme takes this into maximum consideration, not only maintaining and increasing the area dedicated to gardens and urban squares, but also improving the streetscape by introducing shared surfaces and enlarged pavements, reclaiming the streets as public space.

PARAMETERS: PUBLIC SPACE page 13

ET HS TRE

T

STR E

HIG

ON

ET

BOR OU GH

STRE E

UNI

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

SOUTHWARK STREET

2,700 sqm benchmark for 270 children

MA

RSH A

0

N

LSEA

ROA D

SCALE 1:2500 50

0

50

100

150

100

150

200

200

Space for everyone Parallel to the increasing of public open space, the current scheme redefines the amount and the quality for the provision of shared private space.

This constitutes not only a strategic environmental component of the scheme, but also a significant visual amenity for the residents.

At the same time, it provides an amount of doorstep open space that can potentially be turned into playground for up to 270 new children in the area. The access to these spaces, limited to the residents of the singular blocks, guarantees safety and controlled maintainance costs.

PARAMETERS: DOORSTEP GARDENS page 14

ET HS TRE

T

STR E

HIG

ON

ET

BOR OU GH

STRE E

UNI

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

SOUTHWARK STREET

16,000

30% of the entire site is permeable surface

MA

RSH A

0

N

LSEA

ROA D

SCALE 1:2500 50

100

0

50 150

100

150

200

200

A breathing city Permeable surfaces are a key factor in preventing the overloading of the city drainage system in case of heavy rain.

At the same time, they contribute in collecting and filtering pollutant elements from the air, they mitigate the heath-island effects and provide habitat for urban wildlife.

Green roofs have been adopted on most of the scheme in order to compensate the limited provision of permeable surface at ground level, due to the buildings footprint and matters of maintainance and cost for the paving of the circulation areas.

PARAMETERS: PERMEABILITY page 15

SOUTHWARK STREET

ET HS TRE

ON

STR E

HIG

UNI

ET

BOR OU GH

T STRE E

C

G

AYRE S

SOUTHWARK BRIDGE

ROAD

RED C

ROS S

WA Y

F

H A B

D

E

MA

RSH A

N

LSEA

ROA D

SCALE 1:2500

0

50

100

150

200

Different blocks, different scale The definition of the form and scale of the proposed new blocks takes in consideration the fragmented and diverse carachter of the area. Where possible, big scale blocks where introduced, in order to allow the introduction of different functions and flexibility in the range of units.

Completing the scheme is a series of small scale infill interventions, filling the gaps in between existing and new buildings, contributing not only to achieve higher density standards, but also to redefine the spatial layout of the area.

SPATIAL LAYOUT page 16

A

B

C

D

E

F

G

H

SPATIAL LAYOUT: BLOCKS page 17

MORNING

NOON

More open space, more light The increased public and private open space, and the general orientation of the buildings, guarantees an optimal provision of direct sun light to the area. The impact of the medium-rise buildings is limited by their location and position setting back from the main street front.

AFTERNOON sun and shadow simulation - equinox (mid march - mid september)

SUN AND SHADOW page 18

SOUTHWARK STRE

RED CRO SS W AY

AYRE S ST REET

UNI

ON

STR E

ET

0.21

UGH

HIG

HS TRE ET

parking space ratio 139 places/651 units

BOR O

SOUTHWARK BRIDGE

ROAD

ET

Active streets, active city In the general outline for the development of the area, a great attention has been given to deliver a constantly active ground floor, embracing the gardens and the other public spaces with active building fronts, limiting back service areas and avoiding blind spaces.

GROUND FLOOR 0PLAN

MA

RSH A

50

LSEA

ROA D

100

page 19

N

SCALE 1:1250 150

0

10

20

30

40

200

50

100

SOUTHWARK STRE

RED CRO SS W AY

AYRE S ST REET

UNI

STR E

ET

GH

HIG

HS TRE

ET

ON

BOR OU

SOUTHWARK BRIDGE

ROAD

ET

RETAIL LEISURE

A viable and liveable city While suggesting a development largely based on residential space (as suggeste by the general guidelines for the area and the outcome of market analysis), the introduction of mixed use blocks guarantees a viable and liveable mix of activities, attractions for visitors and job opportunities

FUNCTIONS: GROUND FLOOR 0

HIGH GRADE OFFICE OTHER COMMERCIAL MA

RSH A

LSEA

HOTELS

ROA D

RESIDENTIAL COMMUNITY FACILITY 50

100

page 20

N

SCALE 1:1250 150

0

10

20

30

40

200

50

100

SOUTHWARK STRE

RED CRO SS W AY

AYRE S ST REET

UNI

STR E

ET

GH

HIG

HS TRE

ET

ON

BOR OU

SOUTHWARK BRIDGE

ROAD

ET

RETAIL LEISURE

A place called home The provision of residential space is an answer to the current high demand for homes in the area, and a legacy to the carachter of the area. Nevertheless, new office and hotel space has been inserted in proximity to the most active sides of the site, such as Borough High Street and London Bridge.

FUNCTIONS: TYPICAL FLOOR 0

HIGH GRADE OFFICE OTHER COMMERCIAL MA

RSH A

LSEA

HOTELS

ROA D

RESIDENTIAL COMMUNITY FACILITY 50

100

page 21

N

SCALE 1:1250 150

0

10

20

30

40

200

50

100

SOUTHWARK STRE

UNI

ON

STR E

ET

BOR OU

GH

HIG

HS TRE

ET

SOUTHWARK BRIDGE

AYRE S ST REET

ROAD

RED CRO SS W AY

ET

RETAIL LEISURE

Over the top Rather than just being a roof, the use of the top of most of the buildings have been optimised by introducing extra concentrated residential space and rows of penthouse, at the same time an ironic tribute to a typical typology of the area and a response to a local high demand for luxury units.

FUNCTIONS: TOP0FLOORS

HIGH GRADE OFFICE OTHER COMMERCIAL MA

RSH A

LSEA

HOTELS

ROA D

RESIDENTIAL COMMUNITY FACILITY 50

100

page 22

N

SCALE 1:1250 150

0

10

20

30

40

200

50

100

SCALE 1:500

0 2 4 6 8 10

15

20

30

40

The scale of the new intervention reduces

Inserted at the core of the central mixed

The school is enclosed by double storey

drastically in proximity of listed buildings,

use block, the new school and the residential

maisonettes, allowing a continuously active

such as the Red Cross cottages.

upper floors share the same courtyard at

front on the perimetral street.

different levels.

SCALE 1:1250

0

10

20

30

40

50

100

RETAIL LEISURE HIGH GRADE OFFICE OTHER COMMERCIAL HOTELS RESIDENTIAL 0

50

100

150

200

COMMUNITY FACILITY SECTION 1 page 23

SCALE 1:500

0 2 4 6 8 10

15

20

30

40

Small scale infill interventions mediate

Roof top penthouses contribute to define

Another role of the infill intervention is

the relationship between the new

the character of the area. The North-

to complete existing blocks, redefining

development and the existing context.

South orientation of the streets provides

their fronts.

sufficient sun light even in the narrower sections.

SCALE 1:1250

0

10

20

30

40

50

100

RETAIL LEISURE HIGH GRADE OFFICE OTHER COMMERCIAL HOTELS RESIDENTIAL 0

50

100

150

200

COMMUNITY FACILITY SECTION 2 page 24

SCALE 1:500

0 2 4 6 8 10

15

20

30

40

By covering the main parking areas inside

Stepping back facades allows taller buildings

The block hosting the hotel in the northern

the blocks, it increases the permeable

to fit in the original streetscape of Union

site embraces the existing building, redefining

surface and the provision of doorstep

Street

an otherwise blind wall.

outdoor space.

SCALE 1:1250

0

10

20

30

40

50

100

RETAIL LEISURE HIGH GRADE OFFICE OTHER COMMERCIAL HOTELS RESIDENTIAL 0

50

100

150

200

COMMUNITY FACILITY SECTION 3 page 25

SCALE 1:500

0 2 4 6 8 10

15

20

30

40

Enclosed by new buildings opening to

A new mixed use infill intervention, hosting

At the South side of the development,

the garden, the Crossbones cemetery is

at its lower level community facilities,

lower buildings interact with the existing

landscaped and open to the public.

provides a new access to Union street.

ones.

SCALE 1:1250

0

10

20

30

40

50

100

RETAIL LEISURE HIGH GRADE OFFICE OTHER COMMERCIAL HOTELS RESIDENTIAL 0

50

100

150

200

COMMUNITY FACILITY SECTION 4 page 26

SOUTHWARK STRE

RED CRO SS W AY

AYRE S ST REET

UNI

STR E

ET

GH

HIG

HS TRE

ET

ON

BOR OU

SOUTHWARK BRIDGE

ROAD

ET

SHARED SURFACE LIMITED CAR ACCESS VEHICULAR MOVEMENT

An enhanced public realm A combination of traditional streets and shared surfaces with limited car access guarantees a fully functional distribution in the area and an improved streetscape for people walking accross the area and all the different users of the open space.

GROUND FLOOR PRIVATE SPACE GREEN AREAS MA

RSH A

LSEA

PLAYGROUND

ROA D

OTHER OPEN SPACE EXISTING BUILDINGS

OPEN SPACES

N page 27

SCALE 1:1250

0

10

20

30

40

50

100

OPEN SPACES: DETAILS

SCALE 1:500 page 28

0 2 4 6 8 10

15

20

30

40

Future armature for the area

Visions for the future The proposed development scheme is a fundamental step supporting the transformation of the entire Borough area. It will promote the regeneration of the High Street by consolidating the inner part of the block, providing more living space and new commercial space in strategic locations.

At the same time, it will enrich the local environment through the redesign of the existing open spaces, the creation of new ones, and the promotion of Union Street as part of a network of quality leisure urban spaces for residents and visitors.

FUTURE ARMATURE page 29

9th 9thFloor Floor

9th Floor

9th 9thFloor Floor

9th Floor

8th 8thFloor Floor

8th Floor

8th 8thFloor Floor

8th Floor

7th 7thFloor Floor

7th Floor

7th 7thFloor Floor

7th Floor

6th 6thFloor Floor

6th Floor

6th 6thFloor Floor

6th Floor

5th 5thFloor Floor

5th Floor

5th 5thFloor Floor

5th Floor

roof roof

roof

6th 6thFloor Floor

4th 4thFloor Floor

3rd 3rdFloor Floor

2nd 2ndFloor Floor

1st 1stFloor Floor

Ground GroundFloor Floor

4th Floor

3rd Floor

2nd Floor

1st Floor

Ground Floor

4th 4thFloor Floor

3rd 3rdFloor Floor

2nd 2ndFloor Floor

1st 1stFloor Floor

Ground GroundFloor Floor

6th Floor

4th Floor

3rd Floor

14th 14thFloor Floor

14th Floor

13th 13thFloor Floor

13th Floor

12th 12thFloor Floor

12th Floor

10th 10thFloor Floor

10th Floor

9th 9thFloor Floor

9th Floor

8th 8thFloor Floor

8th Floor

7th 7thFloor Floor

7th Floor

1st 1stFloor Floor

1st Floor

6th 6thFloor Floor

6th Floor

roof roof

roof

6th 6thFloor Floor

6th Floor

5th 5thFloor Floor

5th Floor

5th 5thFloor Floor

5th Floor

5th 5thFloor Floor

5th Floor

5th 5thFloor Floor

5th Floor

ROOF ROOF

R

4th 4thFloor Floor

4th Floor

4th 4thFloor Floor

4th Floor

4th 4thFloor Floor

4th Floor

4th 4thFloor Floor

4th Floor

4th 4thFloor Floor

4

3rd 3rdFloor Floor

3rd Floor

3rd 3rdFloor Floor

3rd Floor

3rd 3rdFloor Floor

3rd Floor

3rd 3rdFloor Floor

3rd Floor

3rd 3rdFloor Floor

3

2nd 2ndFloor Floor

2nd Floor

2nd 2ndFloor Floor

2nd Floor

2nd 2ndFloor Floor

2nd Floor

2nd 2ndFloor Floor

2nd Floor

2nd 2ndFloor Floor

2

1st 1stFloor Floor

1st Floor

1st 1stFloor Floor

1st Floor

1st 1stFloor Floor

1st Floor

1st 1stFloor Floor

1st Floor

1st 1stFloor Floor

1

Ground Ground Floor Floor

Ground Floor

Ground Ground Floor Floor

Ground Floor

Ground GroundFloor Floor

Ground Floor

Ground GroundFloor Floor

Ground Floor

Ground GroundFloor Floor

G

2nd Floor

1st Floor

Ground Floor

Financial appraisal The one outlined in the following pages is the financial appraisal for the proposed development scheme, and the comparison of the three different options.

FINANCIAL APPRAISAL page 30

OPTION1 Non-residential uses Floorspace by use:

Retail Leisure or secondary retail High grade Office/Commercial Other commercial use Hotels Brandon House redevelopment Refurbished buildings Total area of retained non-residential bldgs.

Community facilities (inc sect 106) New gross commercial floor area

Gross:

Net:

rental value/ sq.m:

1514 662 4098 588 0 4800 0 25475 4036 6862

1287

£ 250

6.00%

£ 5,362,083

563

£ 180

6.50%

£ 1,558,246

3483

£ 600

5.00%

£ 41,799,600

500

£ 450

6.00%

£ 3,748,500

n/a

n/a

n/a

£0

4080

£ 425

5.50%

£ 31,527,273

0

£ 200

10.00%

£0

21654

n/a

n/a

£ 141,565,934

0

n/a

n/a

yield:

Total value:

Residential: all dwellings Flats for sale

1-bed flats 2-bed flats 3-bed flats 4-bed+ flats Brandon House redevelopment Sub-total Houses for sale

2-bed 3-bed Sub-total Flats for rent (affordable)

1-bed flats 2-bed flats 3-bed flats 4-bed flats Brandon House redevelopment Existing retained residential total area Sub-total

Total units:

84 182 58 6 1

£ 850,000

75

£ 1,100,000

100 110

£ 1,200,000

4284

£ 8,500

5435 16059 6835

£ 63,910,000

5040

£ 36,414,000

Total units:

Gross floor area total: Area/unit sales value/unit: 80

£ 950,000

1120

105

£ 1,200,000

4410

Total value: £ 13,300,000 £ 50,400,000

56

5530

Total units:

Area/unit

sales Gross floor area value/sq.m: total:

36 84 43 3 1 1

50

£ 4,250

2118

£ 7,650,000

75

£ 4,250

7412

£ 26,775,000

100

£ 4,250

5047

£ 18,232,500

100

£ 4,700

318

£ 1,269,000

1836

£ 4,250

2160

£ 7,803,000

9155

£ 6,375

10770

£ 58,359,938

168 units

Flats for sale with park view sub-basement parking spaces - total sub-basement parking spaces - for sale

122 76 66

sqmt/unit

Add'l sales value/unit

Total value:

£ 25,000

£ 3,050,000

25

1900

25

£ 660,000

£ 10,000

554

Hotels:

Total value:

19747

Gross floor area total:

Total value:

56769

£ 726,045,074 29%

Affordable housing as proportion of total (including retained buildings)

Dwelling unit sizes (social housing and typica

FINANCIAL APPRAISAL: SITE1 page 31

Capital value/room @ 80% occupancy rates

£ 154,700,000 £ 7,560,000

34185

14 42

Total value: £ 50,400,000

815

330

Extras

Total (new dwelling units only)

Area/unit sales value/unit: £ 600,000 55

Gross area total:

£ 200,000

bed-spaces studio

all units 30-50m

2

m2 40

h

554148

£ 425units 5.50% £ 31,527,273 Residential: all dwellings lings welling Total only) (new dwelling units only) 554 ) its only buildings) 29%

56769

£ 726,045,074 56769 £ 726,045,074

24

0 Gross area n/a Flats £ as 141,565,934 787 Area/unit ousing Affordable as proportion housing of total proportion (including retained of total (including buildings) retained buildings) 29% 29% as proportion of to Total units: sales value/unit: Total units: total: for salen/a Total value: £ 600,000 £ 50,400,000 n/a 1-bed n/a sizes (social housing and typical market Dwelling unit units) et units) 5435 flats 84 55 84 £ 850,000 £ 154,700,000 16059 2-bed flats 182 75 182 2 £ 1,100,000 £ 63,910,000 Hotels: Dwelling unit100 sizes Dwelling (social unit housing sizesand (social typical housing market and units) typical 6835 3-bed flats 58 58 bed-spaces all units m houses £ 1,200,000 £ 7,560,000 6 studio 40 30-50m2 815 4-bed+ flats 6 110 2 2 1-bed 55 bed-spaces all units all5040 m units houses m 1h 40-60m2 Brandon redevelopment 1 4284 bed-spaces £ 8,500 £ 36,414,000 velopment GrossHouse area 2 2 £ 200,000 2 al value/room Capital occupancy value/room rates @value: 80% occupancy rates studio studio oom @ 80% occupanc £65-100m 200,000 40 2 40 30-50m 30-50m 2-bed @ 80% 80 Abitable ue/unit: rooms: total: Total 60-90m Sub-total 330 34185 330 £ 200

£0

10.00%

2 2 of 00,000 £450,400,000 Hotel3-bed quality (no5435 of stars Hotel 2, 380-120m quality or 5)(no stars 2,4 3 4 or 90 5) 1-bed 1-bed quality (no of stars 55 2 2, 55 3 40-60m 40-60m 42 85 90-130m Gross floor area2 2 2 2 2 50,000 4-bed £ 154,700,000 Gross area of bedroom Gross floors area of bedroom 0 floors 2-bed 0 2-bed Gross area of bedroom 80 80 65-1 60-90m 60-90m 110 16059 365 Area/unit sales value/unit: Total 100-150m 110-180m Total units: units: total: 65-100m Total value: Houses for sale 2 2 00,000 Gross area 63,910,000 of bedroom£Gross floors area of bedroom 0 floors 3-bed 0175 of 3-bed bedroom Gross area 90 2 90 £ 13,300,000 90-1 80-120m 2-bed 6835 14 80 80-120m £ 950,000 1120 90-130m 14 2 2 2 00,000 Average £Average 7,560,000 Average bedroom suite size bedroom20suite size 4-bed 20 26 4-bed bedroom su 110 110-180m 110 110-1 £ 50,400,000 100-150m 815 GDV/sq.m (Gross Development Value for social housing) ing) 3-bed 42 105 100-150m £ 1,200,000 4410 42 No of bedrooms 0 £ 4,250 0 No of bed £ 8,500 Sub-total £ 36,414,000 No of bedrooms 56100 5530 56 Social rent 5040 Gross floor area of Gross hotel Gross floor area 0 of hotel 0 floor area o £ 4,700 GDV/sq.m (GrossGDV/sq.m Development (Gross Value Development for social housing) Value for socia 34185 Shared ownership sales Gross floor area Ground and upper floor Ground ancillary and areas upper floor ancillary 0 areas 0 £ 4,250 £ 4,250 nd upper floor Social rent ancillary Total units:rent Area/unit Social Total units: value/sq.m: total: Flats rent (affordable) Total value: Grossfor floor area valuevalue: Capital £ 0 value Abitable £ 0 ownership £ 4,700 £ 4,700 Capita ue/unit: 1-bed flats rooms: total: CapitalTotal Shared 36 50 Shared ownership £ 4,250 2118 £ 7,650,000 36 £ 13,300,000 50,000 2-bed flats 1120 84 29 75 £ 4,250 7412 £ 26,775,000 84 £ 50,400,000 00,000 4410 43127 100 £ 4,250 5047 £ 18,232,500 43 mber of 3-bed flats

1

2

units Number of units (total): otal): 5530 Abitable units: (total): 4-bed flats 3 100 £ 4,700rooms ratio: 318 £ 1,269,000 3 Number of of 108 redevelopment 1 Number 1836 £ 4,250 2160 £ 7,803,000 1 velopment sales Brandon Gross floorHouse area Gross floor area Typology: units: Typology: units: Abitable rooms: rooms: £ 58,359,938 Ratio:1 e/sq.m: total: Total value: 194 Existing retained residential total area 1 9155 £ 6,375total: Abitable 10770 dential total area 1B 108 1B 108 £ 4,250 £ 7,650,000 63 Sub-total 2118 168 37 19747 168 2B 194 2B 194 £ 4,250 7412 £ 26,775,000 169 49569 1152 43 9 key: Add'l sales m B = bedroom 3B 3B 63 units130 sqmt/unit 63 £ 4,250 5047 £ 18,232,500 14 Extras units value/unit Total value: H = house 4B 4B9 122 9 9 £ 4,700 318 with park £ 1,269,000 42 view Flats for sale view £ 25,000 £122 3,050,000 k V = view 2160 parking 2BH 2BH 14 14 £ 4,250 £ 7,803,000 12spaces sub-basement spaces 76 43 25 1900 g - - total total 76 3BH 3BH 42 42 £ 6,375 10770 parking £ 58,359,938 72spaces sub-basement spaces sale 66213 25 £ 10,000 £ 660,000 g - - for for sale 66 1BV 1BV 12 12 19747 38 Gross floor area total: Total value: 2BV 2BV 72 72 d'l 552 sales Total (new dwelling units only) 554 56769 £ 726,045,074 slue/unit only) 554 3BV 3BV 38 38 Total value: TOTAL 552 TOTAL 552 25,000 £ 3,050,000 Affordable housing as proportion of total (including retained buildings) 29% s proportion of total (including reta 1900 £ 660,000

10,000 Gross floor area Hotels: total: 56769

Total value:

Total abitable rooms:

£ 726,045,074

2407

note 1

Dwelling unit sizes (social housing and typical The total amount of new units is listed 101776

separately in this database, that is used all units m2 h in the main spreadsheet to generate 2 m £ 200,000 40 30-50m automatically the2 number of affordaHotel quality stars (no of stars 2, 3 4 or2, 5) ality (no of 3 44 or 1-bed 5) 55 4 40-60m ble and for sale units, according to 80 the 0 2 area bedroom of bedroom floors 0 floors 2-bed oss area Gross of 65-1 60-90m rate of the rate of2 affordable housing Gross area bedroom of bedroom floors units) 0 floors 3-bed oss of 90 0 ng unit sizesarea (social housing and typical market 90-1 80-120m given as an input.

This allows a quick2 23/03/2015 Postfraduate Urba Average bedroom suite size suite 20 4-bed Average bedroom size 20 110 110-1 100-150m er and more flexible way to evaluate 2 0 No of bedrooms 0 es all units m No of bedrooms houses different options.

2 f Westminster University of Westminster 40 23/03/2015 23/03/2015 minster 30-50m

d

bed-spaces value/room @occupancy 80% occupancy rates studio @ Capital 80% rates £ 200,000 29%

Gross

Gross floor areaarea of hotel floor

0 of

hotel GDV/sq.m

0 (Gross Development Value for socia

55 ancillary 40-60mGround and upper floor ancillary areas 0 areas upper floor Social rent 2 2 note 2 80 65-100m 60-90m Capital value £0 Capital value Shared ownership 2

80-120m

2

90

90-130m2

100-150m

2

110

110-180m2

Number of units (total): al): q.m (Gross Development Value for social housing) £ 4,250

nt

wnership

£ 4,700

key:FINANCIAL APPRAISAL: SITE1 B = bedroom H = house

Typology:

1B 2B 3B 4B

Number of units:

page 32

108 194 63 9

£ 4,250 0

£ 4,700 £ 0

The abitable rooms ratio was used to calculate the amount of abitable rooms for the retained residential area.

Typology:

1B 2B 3B 4B

Detailed Development Apprais Floorspace/units building costs Gross floorspace by use.:

sq.m

building cost/sq.m

Total building cost

Retail

1514

£ 800

£ 1,211,200

662

£ 1,000

£ 662,000

8898

£ 1,900

£ 16,906,200

588

£ 1,450

£ 852,600

Leisure or secondary retail High grade Office/Commercial Other commercial use Existing non-res buidings retained

25475

Hotels

0

£ 2,000

£0

Refurb buildings

0

£ 500

£0

34185

£ 1,800

£ 61,532,471

5530

£ 1,600

£ 8,848,000

High rise residential: extra cost*

10027

£ 450

£ 4,512,150

Affordable housing: flats

17054

£ 1,500

£ 25,581,176

Existing Residential

10770

Community Facilities

4036

£ 1,500

£ 6,054,000

Underground/garage parking

1900

£ 750

£ 1,425,000

Residential for sale: flats Residential for sale: houses

Total building area and cost

£ 127,584,797

110612

*not to be included in the total area

CIL

sq.m

CIL/sq.m

Total CIL

OFFICE

9486

£0

£0

0

£125

£0

77566

£200

£15,513,165

2176

£125

£272,000

25475

£30

£764,250

HOTEL RESIDENTIAL ALL OTHER RETAIL ALL OTHER USES Total building area and cost

£ 16,549,415

114703 CIL

A new spreadshit was introduced, providing automatically the CIL calculation for the site.

FINANCIAL APPRAISAL: SITE1 page 33

Residual site value calculation

£ 726,045,074

Total value of development Building costs

£ 127,584,797

Infratructure costs and basic landscaping @ 10% Basic landscaping costs @ 5%

£ 12,758,480 £ 6,379,240

Additional site treatement 5%

£ 6,379,240

Total construction cost

£ 153,101,756

Additional costs

£0

Professional fees @ 12.5%

£ 19,137,720

Contingencies @ 5%

£ 7,655,088

Sub total

£ 179,894,564

Short-term finance @ 8% p.a.

£ 14,391,565

(Assumes 2-year development programme) Sub-total

£ 194,286,129

Developer's 20% profit

20%

£ 38,857,226

(Level of profit depends on perceived risk) Sub-total

£ 233,143,355

CIL at £35 psm

£ 240,170

Agents and selling fees @ 3%

£ 6,994,301

£ 240,377,825

Total development cost Southwark CIL

£ 16,549,415

£ 469,117,834

Residual value Site Area (HA)

5.2

Net Site Area (HA)

4.6

Value/Ha Plot ratio Residential density (habitable rooms/ha) Affordable housing as proportion of total new development

FINANCIAL APPRAISAL: SITE1 page 34

£ 90,214,968 2.40 463 30%

Developer's 20% profit Building (Level ofcosts profit depends on perceived risk)

20%

Infratructure costs and basic RETAINED landscaping @ 10% - 5.2 HA ENTIRE SITE (INCLUDING BUILDINGS) Sub-total Basic landscaping costs @ 5% Residual site value calculation CIL at £35 psm Additional site treatement 5% Total value of development Agents and selling fees @ 3% Total construction cost

£ 38,857,226 £ 106,152,797 10,615,280 ££233,143,355 £ 5,307,640 £ 240,170

£ 6,994,301 5,307,640 £ 726,045,074 £ £ 127,383,356

Additional costs Building costs Total development cost Professional fees @ 12.5% Infratructure costs and basic landscaping @ 10%

£0 £ 127,584,797 £ 240,377,825 £ £ 15,922,920 12,758,480

Basic landscaping costs @ 5% Southwark CIL Additional site treatement 5% Contingencies @ 5% Residual value

£

6,379,240 ££16,549,415 £ £ 6,369,168 6,379,240 469,117,834

Total construction cost Sub total (HA) Additional costs Site Area

£ 153,101,756 £ 149,675,444 £0 5.2

Professional Net Site Areafees (HA)@ 12.5% Short-term Value/Ha finance @ 8% p.a.

£ 19,137,720 4.6 £ 11,974,036 90,214,968

£

(Assumes programme) Contingencies @ development 5% Plot ratio 2-year Sub-total Residential density (habitable rooms/ha)

£ 7,655,088 2.40 £ 161,649,479 463

Sub total housing as proportion of total new development Affordable Developer's 20% profit

£ 179,894,564 30% £ 32,329,896

20%

(Level of profit depends onp.a. perceived risk) Short-term finance @ 8% REDEVELOPED SITE (ONLY NEW DEVELOPMENT) - 2.5 HA Sub-total (Assumes 2-year development programme)

£ 14,391,565 £ 193,979,375

Residual site value calculation CIL at £35 psm Sub-total Total value of development Agents and selling fees @ 3%

Developer's 20% profit Building Total development coston perceived risk) (Level ofcosts profit depends

20%

Infratructure costs and basic landscaping @ 10% Sub-total Basic landscaping costs @ 5% Southwark CIL CIL at £35 psm Additional site treatement 5% Residual value Agents and selling fees @ 3% Total construction cost

£ 6,994,301 5,307,640 £ 238,144,838 £ £ 127,383,356 £ 0 2.5 £ 240,377,825

Professional Net Site Areafees (HA)@ 12.5%

£ 15,922,920 2.5

£ 95,257,935 £ 16,549,415 £ 6,369,168 2.49 £ 469,117,834 546 £ 149,675,444 30% 5.2

Value/Ha Southwark CIL Contingencies Plot ratio value@ 5% Residual Residential density (habitable rooms/ha) Sub total (HA) Affordable housing as proportion of total new development Site Area Net Site Area (HA) Short-term Value/Ha finance @ 8% p.a.

£

4.6 £ 11,974,036 90,214,968

Net site to Gross site

(Assumes Plot ratio 2-year development programme) Sub-total Residential density (habitable rooms/ha) Affordable housing as proportion of total new development Developer's 20% profit (Level of profit depends on perceived risk) Sub-total FINANCIAL APPRAISAL: SITE1 Agents and selling fees @ 3%

£

£ 38,857,226 £ 106,152,797 200,038,926 10,615,280 ££233,143,355 5,307,640 ££12,191,165 £ 240,170

Additional costs Site (HA) TotalArea development cost

CIL at £35 psm

£

£ 240,170 £ 194,286,129 450,374,929 £ 5,819,381

20%

2.40 £ 161,649,479 463 Different evaluation were made comparing the overall30% site (including the

retained£buildings) and only the area 32,329,896 directly interested by the redevelopment.

£ 193,979,375

page 35

£ 240,170 £ 5,819,381

OPTION1 Non-residential uses Floorspace by use:

Retail Leisure or secondary retail High grade Office/Commercial Other commercial use Hotels Brandon House redevelopment Refurbished buildings Total area of retained non-residential bldgs.

Community facilities (inc sect 106) New gross commercial floor area

Gross:

Net:

rental value/ sq.m:

1084 223 9024 0 5957 0 0 1360 288 16288

921

£ 250

6.00%

£ 3,839,167

190

£ 180

6.50%

£ 524,908

7670

£ 600

5.00%

£ 92,044,800

0

£ 450

6.00%

£0

n/a

n/a

n/a

£ 20,000,000

0

£ 425

5.50%

£0

0

£ 200

10.00%

£0

1156

n/a

n/a

£ 8,613,333

0

n/a

n/a

yield:

Total value:

Residential: all dwellings Flats for sale

1-bed flats 2-bed flats 3-bed flats 4-bed+ flats Brandon House redevelopment Sub-total Houses for sale

2-bed 3-bed Sub-total Flats for rent (affordable)

1-bed flats 2-bed flats 3-bed flats 4-bed flats Brandon House redevelopment Existing retained residential total area Sub-total

Total units:

36 20 13 0 0

Flats for sale with park view sub-basement parking spaces - total sub-basement parking spaces - for sale

Total (new dwelling units only)

£ 850,000

75

£ 1,100,000

100 110

£ 1,200,000

0

£ 8,500

2310 1729 1482

£ 13,860,000

0

£0

Total units:

Gross floor area total: Area/unit sales value/unit: 80

£ 950,000

0

105

£ 1,200,000

0

Total value: £0 £0

0

0

Total units:

Area/unit

sales Gross floor area value/sq.m: total:

15 8 5 0 0 0

50

£ 4,250

900

£ 3,251,250

75

£ 4,250

741

£ 2,677,500

100

£ 4,250

635

£ 2,295,000

100

£ 4,700

0

£0

0

£ 4,250

0

£0

0

£ 6,375

0

£0

29

97 0 0

sqmt/unit

Add'l sales value/unit

Total value:

£ 25,000

£ 2,425,000

25

0

25

£0

£ 10,000

97

Hotels:

Total value:

2276

Gross floor area total:

Total value:

7798

£ 187,610,957 29%

Affordable housing as proportion of total (including retained buildings)

Dwelling unit sizes (social housing and typica

FINANCIAL APPRAISAL: SITE2 page 36

Capital value/room @ 80% occupancy rates

£ 16,660,000 £0

5522

0 0

Total value: £ 21,420,000

0

68

units

Extras

Area/unit sales value/unit: £ 600,000 55

Gross area total:

£ 200,000

bed-spaces studio

all units 30-50m

2

m2 40

h

Detailed Development Apprais Floorspace/units building costs Gross floorspace by use.:

sq.m

building cost/sq.m

Total building cost

Retail

1084

£ 800

£ 867,200

223

£ 1,000

£ 223,000

9024

£ 1,900

£ 17,145,600

0

£ 1,450

£0

Leisure or secondary retail High grade Office/Commercial Other commercial use Existing non-res buidings retained

1360

Hotels

5957

£ 2,000

£ 11,914,000

0

£ 500

£0

5522

£ 1,800

£ 9,939,176

0

£ 1,600

£0

High rise residential: extra cost*

5522

£ 450

£ 2,484,794

Affordable housing: flats

2276

£ 1,500

£ 3,414,706

288

£ 1,500

£ 432,000

0

£ 750

£0

Refurb buildings Residential for sale: flats Residential for sale: houses

Existing Residential

0

Community Facilities Underground/garage parking Total building area and cost

£ 46,420,476

25734

*not to be included in the total area

CIL

sq.m

CIL/sq.m

Total CIL

OFFICE

9024

£70

£631,680

HOTEL

5957

£250

£1,489,250

13320

£400

£5,328,000

ALL OTHER RETAIL

1307

£125

£163,375

ALL OTHER USES

1360

£30

£40,800

RESIDENTIAL

Total building area and cost

30968

FINANCIAL APPRAISAL: SITE2 page 37

£ 7,653,105

Residual site value calculation

£ 187,610,957

Total value of development Building costs

£ 46,420,476

Infratructure costs and basic landscaping @ 10% Basic landscaping costs @ 5%

£ 4,642,048

Additional site treatement 5%

£ 2,321,024

£ 2,321,024

Total construction cost

£ 55,704,572

Additional costs

£0

Professional fees @ 12.5%

£ 6,963,071

Contingencies @ 5%

£ 2,785,229

Sub total

£ 65,452,872

Short-term finance @ 8% p.a.

£ 5,236,230

(Assumes 2-year development programme) Sub-total

£ 70,689,102

Developer's 20% profit

20%

£ 14,137,820

(Level of profit depends on perceived risk) Sub-total

£ 84,826,922

CIL at £35 psm

£ 570,080

Agents and selling fees @ 3%

£ 2,544,808

£ 87,941,810

Total development cost Southwark CIL

£ 7,653,105

£ 92,016,043

Residual value Site Area (HA)

0.97

Net Site Area (HA)

0.97

Value/Ha Plot ratio Residential density (habitable rooms/ha) Affordable housing as proportion of total new development

FINANCIAL APPRAISAL: SITE2 page 38

£ 94,861,900 2.65 549 30%

£ 52,995,046

£ 43,888,699

£ 38,425,041

Total value of development

SITE1 £ 726,045,074

SITE2 £ 187,610,957

TOTAL £ 913,656,031

Total development cost

£ 240,377,825

£ 87,941,810

£ 328,319,635

£ 16,549,415

£ 7,653,105

£ 24,202,520

£ 469,117,834

£ 92,016,043

£ 561,133,876

Site Area Ha

5.2

0.97

6.17

Net Site Area (HA)

4.6

0.97

5.57

Residential density (habitable rooms/ha)

£ 90,214,968 2.40 463

£ 94,861,900 2.65 549

£ 90,945,523 2.45 476

SUMMARY

OPTION1

OPTION2

OPTION3

Developer's profit

SUMMARY

Southwark CIL Residual value

Value/Ha Plot ratio

Total value of development

£ 913,656,031

£ 805,381,264

£ 749,414,836

Total development cost

£ 328,319,635

£ 272,127,287

£ 238,345,707

Residual value

£ 561,133,876

£ 509,051,457

£ 486,866,609

Site Area Ha

6.17

6.17

6.17

Net Site Area (HA)

5.57

5.57

5.57

£ 90,945,523 2.45 476

£ 82,504,288 2.20 430

£ 78,908,689 2.08 404

30% 29%

30% 29%

30% 37%

£ 52,995,046

£ 43,888,699

£ 38,425,041

Total value of development

SITE1 £ 726,045,074

SITE2 £ 187,610,957

TOTAL £ 913,656,031

Total development cost

£ 240,377,825

£ 87,941,810

£ 328,319,635

Value/Ha Plot ratio Residential density (habitable rooms/ha) Affordable housing / New development Affordable housing as proportion of total Developer's profit

SUMMARY

Southwark CIL Residual value

£ 16,549,415

£ 469,117,834

Different options

The different development options £ 7,653,105 £ 24,202,520 proposed were evaluated form a fi£ 92,016,043 £ 561,133,876 nancial perspective.

Site Area Ha

5.2

0.97

6.17

Net Site Area (HA)

4.6

0.97

5.57

£ 90,214,968 page 39 2.40 463

£ 94,861,900 2.65 549

£ 90,945,523 2.45 476

FINANCIAL APPRAISAL: SITE1 + SITE2

Value/Ha Plot ratio

Residential density (habitable rooms/ha)

SUMMARY

OPTION1

OPTION2

OPTION3

Total value of development

£ 858,434,831

£ 805,381,264

£ 775,140,711

Total development cost

£ 322,546,079

£ 272,127,287

£ 241,033,926

Residual value

£ 511,686,233

£ 509,051,457

£ 509,904,264

Site Area Ha

6.17

6.17

6.17

Net Site Area (HA)

5.57

5.57

5.57

£ 82,931,318 2.45 476

£ 82,504,288 2.20 430

£ 82,642,506 2.08 404

46% 41%

30% 29%

16% 29%

£ 52,060,814

£ 43,888,699

£ 38,860,028

Total value of development

SITE1 £ 726,045,074

SITE2 £ 187,610,957

TOTAL £ 913,656,031

Total development cost

£ 240,377,825

£ 87,941,810

£ 328,319,635

£ 16,549,415

£ 7,653,105

£ 24,202,520

£ 469,117,834

£ 92,016,043

£ 561,133,876

Value/Ha Plot ratio Residential density (habitable rooms/ha) Affordable housing / New development Affordable housing as proportion of total Developer's profit

SUMMARY

Southwark CIL Residual value Site Area Ha

5.2

Net Site Area (HA)

4.6

Value/Ha Plot ratio Residential density (habitable rooms/ha)

£ 90,214,968 2.40 463

Playing0.97 with the numbers 0.97

6.17 5.57

£ 94,861,900 £ 90,945,523 Having linked all the calculations to 2.65 2.45 the rate of affordable housing allowed 549 476 an easy comparison of the different options. In particular, it is interesting to note the different amount of affordable housing allowed by the three schemes, having as a result the same value per hectare for the area.

FINANCIAL APPRAISAL: DIFFERENT OPTIONS page 40

BOROUGH

DESIGN REPORT

UNIVERSITY OF WESTMINSTER | AURD717 DEVELOPMENT PROCESS | SIMONE GOBBER