The city council has prepared a strategic assessment of the financial viability of residential development within Salford.
It has been undertaken to inform the policy approach within Salford’s draft local Plan, particularly policy H7 (affordable housing). Regard has been had to the relevant parts of the national planning policy framework (NPPF) and the associated online national planning practice guidance (PPG) in its production.
The assessment takes into account a wide range of assumptions that influence viability, including the capital value of a development (primarily the selling of new dwellings), the cost of developing a site (such as buying the land, and build costs), the profit a developer expects from a particular site, and finance costs.
It is important to note that this assessment has been produced to support the draft local plan; the policies within the draft plan carry only very limited weight when making decisions on planning applications. Given this, the requirements of the adopted planning obligations SPD will continue to be applied until the local plan has progressed to a stage where significant weight can be placed in it.
The Salford local plan assessment of residential viability can be downloaded below.
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