The city council has prepared an updated strategic assessment of the financial viability of residential development within Salford (January 2019).
The updated assessment has been undertaken to inform the policy approach within Salford’s revised draft local plan, particularly policy H7 (affordable housing). It takes into account comments received to an earlier assessment that was published in November 2016 in support of the draft local plan. The comments received to the 2016 assessment, and the city council’s response to them, can be downloaded below.
The 2019 assessment has also informed a review of the adopted planning obligations supplementary planning document (SPD). Regard has been had to the relevant parts of the national planning policy framework and the associated online national planning practice guidance 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 as part of the evidence base to support the revised draft local plan and the draft planning obligations SPD; the policies within the revised draft local plan/draft SPD 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/SPD have progressed to a stage where significant weight can be placed in them.
The Salford revised draft local plan assessment of residential viability can be downloaded below.
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This page was last updated on 25 January 2019