Cambridge House, Woolwich

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Client: The Hyde Group
Location: Woolwish
Discipline(s):

GL Hearn’s Planning team provided the Hyde Group with valuation and planning advice in respect of Cambridge House.

We were initially instructed by the Hyde Group in early-2010 to provide initial valuation advice in respect of Cambridge House, a 1930’s building which was used as affordable housing but which had high void levels. Hyde was considering alternative uses for the site including refurbishment or a redevelopment of the site.

There were rights of way across the site which came to light as part of our valuation work. Viability of the scheme was also a concern as values were relatively low.

We considered the impact of the rights of way in order to assist with a deed of release of the easement which Hyde was negotiating.

In early 2013 we prepared a Financial Viability Assessment in connection with the Group’s planning application for a redevelopment of the site. Although the proposed scheme was for 100% affordable housing, our report was required to negotiate the level of Section 106 Agreement contributions to maintain a viable and deliverable scheme.

Our Planning team also provided the Group with planning advice. Planning permission for a redevelopment of the site to provide 49 residential units was granted on 21 August 2013.

Most recently we have been instructed by Hyde New Homes, Hyde’s sales and marketing specialist, to value the shared ownership units at the scheme, now known as Cannons Corner, for sale purposes.

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