Land Value. The underlying real property owned by the State shall be auctioned at public oral auction and sold for not less than the appraised value of the land, which shall be the minimum opening bid at the auction: Appraised Value of the Land: $ Any amount bid in excess of the above appraised value of the land shall only be attributed to the amount to be paid for the land.
Land Value. Following various appeal cases it is well established that viability assessments are carried out in order to calculate the residual land value that the scheme can afford which is then compared to the existing use value (EUV) of the site plus an incentive to bring forward land for development taking account of the latest NPPF guidance and the RICS Guidance note, Financial Viability in Planning, 1st edition (Benchmark Land Value). The site is currently occupied by an existing 3 storey building extending to approximately 860m2. It has been run as a public house and premises for more than 20 years and is still operational, and therefore assumed to be structurally sound and in reasonable condition internally. Our office records show that the property was acquired by the applicant on 2nd August 2013 for the sum of £420,000. This is believed to be an open market transaction bought by the developer for potential redevelopment, and it is therefore our opinion that the price paid reflected any seller incentive. At this point no comparable sales evidence for the existing property has been provided by the applicant’s agent and they have adopted the purchase price of £420,000 within their appraisal. Whilst we have not been provided with recent trading figures, it is understood to be a popular venue with regular rock and metal music events taking place. Therefore we have adopted £420,000 as a benchmark land value for the purpose of viability testing within our appraisal in line with the applicant. In addition, we have included for SDLT fees at the current rate together with agents and legal fees at 1.8%. Overall assessment: Following our desktop research and assessment we are of the opinion that a 100% private scheme incorporating a site value of £420,000 with CIL contributions totalling £218,265 is not viable and cannot provide any contribution towards affordable housing. Our appraisal shows a deficit figure of -£143,131 (see Appendix 1). The applicant’s submitted viability report is reasonably well evidenced and we broadly agree with many of their figures. The minor differences between our figures are as follows: Gross Development Value (ground rents only) Construction costs (build contingency only) Developer profit Our appraisal indicates that the scheme will achieve a profit level of approximately 15.5% on GDV which is at the lower end of the range generally required for the purpose of debt finance. On this basis we consider that the scheme can provide full CI...
Land Value. The value of the land to be purchased by Xxxxxx-Xxxxx has been determined by the Appraisal Report of Xxxxx & Company, dated February 24, 2023 (the “Appraisal,” Attachment B). The value is appraised at $24.62 per square foot or $118,510. The balance due from Xxxxxx-Xxxxx to CBJ is $118,510 (One Hundred- Eighteen Thousand, Five Hundred Ten Dollars).
Land Value. 14.1 The Master Developers have a business case for taking forward land for development based on an anticipated target land value receipt. The target land value receipt is required to cover existing land values and costs incurred or to be incurred to bring the site forward for development (“Master Developers Allowable Costs”). In the Collaboration Agreement between the Master Developers there is a mechanism to distribute future land receipts based on mechanisms for pro-rata shares.
Land Value. Following submittal of the Financial Plan, Agency and Brookfield shall negotiate and agree upon the land value of the Site for the Residential Improvements in the time set forth in the Schedule of Performance.
Land Value. Brookfield Homes and the Agency shall agree on the value of the land of the residential project. No later than November 1, 2010 No. Provision/Description Schedule/Timing
Land Value. Following various appeal cases it is well established that viability assessments are carried out in order to calculate the residual land value that the scheme can afford which is then compared to the market value of the site (Benchmark) taking account of The RICS Guidance note, Financial viability in planning, 1st edition. The applicant has provided a Benchmark Land Value of £9,294,000 This includes for the following:
Land Value. Land value per square foot Land value per FAR square foot Purchase price (if applicable) payable to WMATA The analysis must be presented in current dollars with an annual escalation rate or present value discount, if applicable, of three percent (3%). All financial models must be submitted to WMATA on disk as well as hard copy. All financial information must be linked in a single spreadsheet, and all files must be in Microsoft Excel and retain all cell relationships.
Land Value. “Land Value” is determined by the City annually based upon the appraised market value of raw acreage that has imminent development potential.
Land Value. The Aggregate Land Value for a particular strata will be as set out in the following table. VR Aggregate Land Value VR1343 $61,721,915 VR2096 $54,062,950 VR1112 $29,709,917 VR1157 $34,571,387 VR691 $25,695,416 VR514 $22,098,300 VR442 $28,779,436 VR419 $30,046,720 VR588 $19,487,339 VR466 $27,666,225 VR551 & VR552 $32,907,939 VR909 $1,360,254 VR916 $1,369,758 Increase of Prepayments. There will be no increase in Prepayments prior to the first anniversary of the Effective Date, whereupon the Prepayment will increase by 5%, and will increase in every month thereafter by 0.41% (compounded) until the fifth anniversary of the Effective Date.
