Frankham Projects was appointed by the London Borough of Hounslow to look at a number of disposal sites owned by the council to enhance land value prior to sale. This formed part of the first phase of four properties that were part of a wider strategic review of all surplus stock owned by the council looking at options to increase sales receipt through the development process prior to disposal.
The Feltham Dene site, a care home previously operated by the Council but no longer operationally viable, was in a residential area approximately one mile from Feltham High Street.
A detailed analysis of key value drivers in the local area was undertaken to inform the development scheme that would create the optimum land value. Frankham Projects was appointed for design and development consultancy services, and managed the design team and supply chain throughout the planning process, including regular meetings with local stakeholders in the scheme, to ensure that a detailed consent for 43 residential units was achieved at a local level in the target timescale. Despite a tough project programme, this enabled the projects to reach market before the end of the financial year.
The site was disposed of to a local housing association for £1.85m, an increase of £600,000 on the original land value equating to a 48% increase on red book valuation.