A GDV of £6.7m for an 8 storey block in a contaminated site in Brent.

Study: Brent petrol station.

Today we’re looking at a redevelopment opportunity on a corner site in Brent. The site is clear of listed buildings, conservation areas or flood zones, and surrounding buildings go up to ten stories. First we test a five-story building with mostly studios and one-beds, with a construction cost of 3,500 pounds per square meter, to account for any remedial works. We then try an eight-story block, to match the other surrounding buildings. This means we need a larger core to accommodate a second stairs . Financial projections indicate a GDV of 6.7 million pounds against a build cost of 3 million pounds.

Transcript (auto generated)

0:01 Today we're going to look at the potential development capacity of a petrol station in Brent, which is coming up for redevelopment. 0:09 It's a quite a tight corner site on Church Road. I'll quickly find the site here. This is it here. You can see the development here. 0:19 I'm going to quickly check to see if there's any important constraints that we need to know about, whether they're conservation areas, listed buildings, flood zones, and I don't think there doesn't seem to be much, so that's useful. 0:30 The heights of buildings in the area seem to kind of range from 4 to 6 with some slightly taller buildings here of up to kind of between 7 to 10 storeys, just north of the site. 0:40 So given it's a small site and it's a corner site, I think we can probably push for a slightly taller building there. 0:47 Let's just make double sure. That we know exactly what the property boundaries are, so this is the site here. And we can see it again, as I mentioned, it's quite a small site. 0:59 But let's see if we can put something, so let's stick to a relatively small floor plate, around 3 units per core, but let's see if we can push something around kind of 5 stories, with a kind of mostly studios in one bed. 1:11 I'm going to keep the sales values as pre-populated here, but build cost, I think we'll put something, because it's an old petrol station, there might be some contamination, I think we'll put something around. 1:21 3,500 pounds per square meter, just in case there's anything underground which we don't know about. And so I'm going to then put the block here on the site and see what we can get, so you can see, it's a bit tight but we can fit this, we can see this, we can fit this at at five stories, three units per 1:40 core, we can get 15 homes there relatively easily. I wonder what happens if we were to increase the height to something like eight stories. 1:50 Now it's a good bit taller and obviously as you can see here now we need to increase the height. to provide for two stairs so the footprint's a little bit bigger but it looks like we'd still be able to put something like that on. 2:00 Given the fact that it's kind of quite a prominent corner site with relatively tall buildings on the other side, I think this still feels reasonable. 2:08 Play around with different orientations. I think that's probably the best orientation kind of here. It leaves us a little bit of space left over on the site, according to this, 108 square meters where we can put a couple of parking spaces if need be. 2:25 And a GDV of about 6.7 million with a construction cost, again, based on kind of an assumption of about 3,500 pounds per square meter, a build cost of about 3 million pounds. 2:37 So, so there you go, so that seems like a viable site, another 20,000 pounds per square meter, a build cost of about 3 million pounds. So, so there you go, so that seems like a viable site,Test your first layout

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