Valuation of Northfleet Embankment for 598 Homes in Kent

About

Homes England (the name adopted by the Homes and Communities Agency) awarded a contract to GVA T/A Avison Young for the appointment of an Independent Valuation Firm from its national Property Panel.

The appointed Valuer was required to provide an initial Red Book valuation for the development of 598 homes at the Northfleet Embankment site in Kent.

The reports were for lending security purposes in relation to a proposed recoverable investment facility from the Home Building Fund and were used by Homes England as part of their initial and on-going due diligence.

The scope included an initial Red Book valuation report by 21st October 2019, covering commentary on land value (residual valuation), GDV, market absorption rates and competition, and the Borrower assumptions in their sales and marketing strategy.

Ongoing annual re-valuations may have been required and were quoted for.

The contract value was £14,650.