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 existing Hanworth Library building occupies a small corner plot on a busy intersection on the outskirts of Hounslow Town centre flanked by residential properties and secondary retail frontages.
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 an outline consent for a mixed use scheme comprising of ground floor retail units and 24 residential units above 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 previously valued internally at £900,000, which was revised to £1.45m following the value enhancement works and the establishment of an outline planning consent. The increase represented an increase in land value of 61%.