Frankham Projects, the development consultancy and management company within the Group, has recently undertaken a project with Maidstone Hospital to realise the enhanced development value of the site prior to the Trust’s disposal. An in-depth analysis of key value drivers delivered a strategy to allow the Trust to benefit from a c.35% uplift in residual land value through the outline planning process and we are now part way through the design and disposal stages to ensure the Trust are in a position to dispose of the site and receive sales receipts before the close of the financial year.
This site is currently under offer. Particulars can be found here.
A detailed study was undertaken to inform the Trust’s preferred disposal route prior to commencement of value enhancement works. It was agreed that a phased disposal process of the sites, benefitting from the development precedence of outline planning permission for a large residential scheme delivered in stages, would provide the Trust with the optimum return on their land and in excess of previous red-book asset valuation exercises.