Vickery Holman were instructed by a Lender to carry out a Red Book valuation of a residential development site comprising 1-, 2-, 3- and 4-bedroom properties, each benefitting from energy saving designs.
Our objective was to advise on the Freehold interest of the property for Secured Lending purposes.
As one of the first UK ‘Zero Energy Bills’ initiative, the development presented unique challenges and opportunities, due to its incorporation of state-of-the-art renewable energy technologies including air source heat pumps, storage batteries and solar panels.
Our approach was to carry out a Red Book valuation, drawing on our expertise in the residential development market and understanding of sustainable technologies that distinguishes Nexa Fields from traditional residential sites.
We carried our thorough analysis which included providing advice on Market Rent, Market Value and Gross Development Value taking into consideration the ‘added value’ the product would achieve.
We were able to provide a Red Book valuation which enabled our client to confidently proceed with secured lending, knowing that the project was not only going above the standard building requirements, in terms of sustainability but also met the criteria for the lender and Lending was secured by the Borrower.
Our experienced team is ready to assist with unparalleled regional advice.
