Service: Asset Valuation & Advisory | Sector: Residential
We were instructed by the Guinness Partnership to provide a Red Book valuation for strategic marketing and pricing of 500 new build flats in their Leaside Lock development in Bromley-by-Bow.
The subject of the valuation comprises the first phase of a three-phase 900-unit development, known as Leaside Lock, located in Bromley-by-Bow in East London.
The 500 residential flats within the first phase were under construction and contained within five buildings of between 9 and 26 storeys.
The valuation of the 500 individual flats involved reviewing planning documents, floor plans and unit schedules, carrying out detailed market analysis of comparable new developments and the creation of a complex formulaic pricing schedule. We set base values for each unit type and made adjustments based on factors such as; unit size, layout, outlook, views, balconies, sunlight and external impacts such as road and rail noise.
The valuation was used to set the launch prices for the completed units and was updated through the later block releases.