Upload
mothusi-lekgowe
View
561
Download
1
Embed Size (px)
DESCRIPTION
We were given instructions as a group to advice on re-development of a town center.
Citation preview
Weston Super Mare: Dolphin Square Development Proposal
By-Kevin NealisAdam ForsterMothusi Lekgowe
Introduction
Weston Super Mare Summary.
Dolphin Square Site Summary.
Planning Policies & Strategies.
Redevelopment & Regeneration.
Restrictions/Constraints.
Introduction Cont........
Proposed Uses of Site
Proposed Site Layout
Valuations: Market Evidence & Development Appraisal
Options available to client
Final Recommendations
Conclusions
Weston Super Mare Town SummaryPrimarily, famous as a British Seaside Resort.
Nearby towns include Bristol, Bath and Taunton.
Primary focus for tourists in the North Somerset. (Holiday periods see increased economic growth)
Since the 1970’s the town has seen decline in its popularity. (Loss of the Pier in 2008)
Weston Super Mare Cont......Current Population: 71,000 (2001 Census).35% of the town’s residents are classified as Mangers or Professionals (LDF, 2008).Has one of the highest national percentages of elderly residents; 20% compared to 16% national average. 70% of total population are aged between 16-74 yrs.
Source: 2001 Population Census
Public Transportation Various modes of transport
operate within the Weston-Super-Mare area.
Buses and Trains provide hourly services to Bristol, Bath and direct services to London. (First Great Western and First Somerset)
Weston is close to the M5 Motorway.
Bristol International Airport is located 10 miles away.
Source: North Somerset Council, 2010
Dolphin Square• 2.62 Hectares in size.
Predominately in Council Ownership, subject to a long leasehold interest by Kilmartin and other private owners.
Ownership Structure:
4. Sands Night Club: Private Ownership.
5. Dolphin Square: 125yr Leasehold to Kilmartin from 1987
6. Beach Road Car Park: Jointly owned by NSC and Kilmartin
7. Oxford Cafe: Private Ownership
8. Corner of Oxford Street/Beach Road: NSC
Source: Google Maps 2009
Source: SPD Dolphin Square 2008
12
3
45
Dolphin Square
Residential Flats
Car park and bowling alley
Dolpin Square Retail
Listed church building
Retail Anchor Tenant
Exit to High Street
Weston-Super Mare LDF The Core Strategy sets out North Somerset Council's spatial vision and strategic objectives for the development of Weston Super Mare in the future.
:Key areas outlined
’ , Is s ue s problems &challengesDemand for housing, in particular affordable housing.The preservation of Weston Super Mare's ecology is essential, therefore this must be considered when new developments are being introduced.Specific parts of the town centre requires redevelopment to meet modern standards.
Spatial Vis ion &Strategic ObjectivesEnvironmental Objective- To ensure sustainable development and enhance the quality of life and improve environmental, social and economic opportunities Social Objective- create a range of housing developments, both affordable and special needs housing. Economic Objective- promoting development that would provide job opportunities.
Regeneration & Redevelopment
Policy E1/A of the North Somerset Replacement Local Plan-
Make a positive and distinctive contribution to the exising built environment.
Promote more efficent use and re-use.
Increase the diversity of land use activities.
Provide investment opportunities.
Contribute to improving the environmental quality and strenghten transport and other linkages.
Capitalise on the coastal setting.
Source: North Somerset Replacement Local Plan, Adopted March 2007.
Restrictions/ Constraints
Maintain access for Electricity Sub-StationCertain Areas of the Site are within the Flood
Plain.Certain buildings are Grade II Listed.Building Heights (Max Five storey)
Potential Site Usage
Potential Uses Proposed Uses
Luxury Apartments Affordable Housing
Affordable Housing Leisure
Leisure Retail
Retail Multi-Storey Car Parking
Underground parking/Street Parking Offices
Offices Cafes/Restaurants
Cafes/Restaurants Gallery/Museum
Gallery/Museum Library
Library Children's Play Park
Open Spaces Pedestrianised Access
Landscaping
Revised Children's Play Area
Roundabouts to ease Traffic
Revised Site LayoutOpen Space
Roundabout
Focal Point
Apartments
Residential Car Parking
Multi-Storey Office
Museum car space
Multi-Storey Car-Park
Museum
Tree’s/Landscaping
Restaurants/Cafes
Roadways
Library
Play Area
Museum over-ground car parking
Cinema
Swot Analysis of Revised Site Layout
Strengths Weaknesses Opportunities ThreatsNew Town Focal Point. Overcrowding during summer
months.Future Investment Competition from nearby
towns
Benefit to local Economy: Increase town centre footfall.
Increased levels of road traffic.
Market opportunities Locals repelling planning consent
Increased Parking. Threat to local businesses. Improve Transport Links Competition for footfall from established retail centres, e.g. Flower Down Retail Park and Weston Retail Park
Access Improvement. Two way road system. Seaside Location Increased Anti-Social Behaviour
Increased Evening-Time Entertainment.
Employment-led Regeneration.
Acquisition difficulties from private owners with interest in the site.
Primary focus for tourists Increase Tourism
Planning IssuesConcern of loss of car-parking.All roads are adopted.Volume of traffic along Oxford Road and Beach
Road.Acquisition of private interests (Planning and
Compulsory Purchase Act 2004). Sustainability.Change of use to a different use class.Tenants relocation for developments.
Planning Policy Documentation/Strategies
PPS1: Sustainable Developments
PPS3:Affordable Housing
PPS4:Sustainable Economic Growth
North Somerset Replacement Local Plan.
Local Development Framework(LDF)
SPD for Dolphin Square
Landlord and Tenant Act/Legislation
Section 106
Planning Policy StatementsPlanning Policy Statements Prepared by government to give Local Authorities guidance on planning policy and the planning system.
Three main PPS-Planning Policy Statement 1: Delivering Sustainable DevelopmentLPA’s should promote outcomes in which economical, social and environmental objectives are achievedtogether overtime. Development plans must contribute to global sustainability, reduction of energy consumption, climate change should be considered in Location & Design of Development. Planning Policy Statement 3: HousingGreater opportunities for home ownership. Improved affordability by increasing the ssupply of housing. Also the creation of sustainable and mixed communities. Planning Policy Statement 4: Promoting Economic Growth.Local planning authorities should, through the core strategy development plan document, set out spatial vision and strategy for the network and hierarchy of centres, including local centres.
1. Agreement with local planning authority to address
negative impacts caused by the development
2. Make a payment contribution towards:
Improvements to the streetscape,
Improvements to the open space and
Public transport improvements
to counteract negative effects of having increased
town centre footfall.
SECTION 106
Development Appraisal
Total Rental Income £5,562,000
yp perp@10% 10
£55,620,000
Total Sales
45 Units (34 afffordable) £4,445,000
Gross Development Value £60,065,000
less purchasers costs @ 5.4% £3,243,510
Net Development Value £56,821,490
Expenditure Purchase Price £ 11,750,000 Aquisition Costs @ 5.75% £ 675,625 Cost of Sands Nightclub £ 1,100,000 Cost of Oxford Cafe £ 170,000 Aquisition Costs @ 5.75% £ 73,025 Total Site Cost £ 13,768,650 Development Cost Construction Cost 21914 @ 924 per m2 £ 20,256,863 plus 5% piling foundations £ 1,012,843 Contingency @ 7% £ 1,417,980 Section 278 Works £ 75,000 Section 106 contributions £ 1,950,000 Preliminary Site Surveys £ 10,000 Total Construction Costs £ 24,722,687
Development Appraisal
Expenditure Purchase Price £ 11,750,000 Aquisition Costs @ 5.75% £ 675,625 Cost of Sands Nightclub £ 1,100,000 Cost of Oxford Cafe £ 170,000 Aquisition Costs @ 5.75% £ 73,025 Total Site Cost £ 13,768,650 Development Cost Construction Cost 21914 @ 924 per m2 £ 20,256,863 plus 5% piling foundations £ 1,012,843 Contingency @ 7% £ 1,417,980 Section 278 Works £ 75,000 Section 106 contributions £ 1,950,000 Preliminary Site Surveys £ 10,000 Total Construction Costs £ 24,722,687 Cost of Construction finance 18 months @ 5% £ 927,101 Professional Fees (12.5% build costs) £ 3,206,223 Letting, Sales & Legals Letting @ 10% £ 556,200 Sales @ 1.5% £ 66,675 Legals @ £750 per unit sold £ 33,750 Total £ 656,625
Finance on Fees 18 months @ 5% £ 53,437.06 Contingency 7% including interest £ 2,065,884.53
Developm
ent Appraisal
GDV £60,065,000
NDV £56,821,490Total Cost £45,400,608
Profit £11,420,882
Analysis Profit on Cost 25.16%Profit on NDV 20.10%Development Yield 12.25%Profit on GDV 19.01%
Profitability Calculation & Analysis
Options available to client
Take No Action Now – uncertain economic circumstances, allow for economy to settle down until it is more predictable.
Form a Joint Venture- provide financial backing and spread risk.
Build in Phases- spread cost by building through phases.
Conclusions & Final RecommendationsPresently, due to financial constraints amongst other uncertainties, we would advise that redevelopment in Dolphin Square is phased.
Our proposal will create employment, meet the needs of both current and new residents whilst addressing issues raised in the UDP and LDF.
Our proposal will also aim to create a centre point for the community.
Improvement in vitality of the area