Vastern Road, Reading
A site appraisal prepared for Berkeley Homes used in the acquisition and development of a regeneration site in Reading.
- Location: Vastern Road, Reading
- Client: Berkeley Homes
- Development Size: 208 flats, a house, and a retail unit across six buildings
- Objective: Valuation analysis to support acquisition and development decisions
Our Role
LRG provided Berkeley Homes with a comprehensive valuation analysis for their regeneration site at Vastern Road. This involved:
Key aspects of our assessment included:
- Residual Valuation: Assessing construction costs, professional fees, and anticipated revenues from residential sales and retail leases to determine project feasibility.
- Market Assessment: Conducting a detailed analysis of Reading’s property market trends to ensure financial projections were aligned with current and forecasted conditions.
- Existing Use Valuation: Evaluating the commercial buildings on-site, considering their current state, rental income potential, and market conditions.
- Comparative Analysis: Demonstrating the financial uplift achievable through redevelopment by comparing the site’s existing use value with its residual value under the proposed scheme.
The Results
- Provided Berkeley Homes with a clear financial framework to inform their investment strategy and negotiations.
- Highlighted the economic viability of the proposed scheme, reinforcing its potential for urban regeneration.
- Supported Berkeley Homes in advancing the project with confidence, balancing risk and reward effectively.
Conclusion
The insights delivered by LRG were instrumental in helping Berkeley Homes move forward with their redevelopment plans at Vastern Road. Our detailed valuation approach ensured the project was financially viable and aligned with Reading’s evolving property landscape.
For more information on how LRG can support your development projects, please contact us today.
