Case Studies


Case Study 1 Milton Keynes

809 Silbury Boulevard, Milton Keynes

High Street Group
GDV: £33 million

  • The site was sourced off-market opportunity in August 2016 and the acquisition negotiated on behalf of the client. The site was the subject of an historic failed planning application for an 8-storey building of 144 residential units.
  • The following initial analysis was carried out on behalf of the developer:
  • – Market Analysis – to include a full review of the market, rental/sales data, supply & demand, amenities etc.- Project Design Overview – efficiencies identified at all stages of the process- Planning Review – historic and existing planning analysis- Build to Rent “Value Engineering” – worked with operators and architects to design the optimum scheme for the local market, ensuring an “institutionally acceptable” scheme was designed

    – Development Costs – all costs reviewed and negotiated, to ensure development risk mitigated as much as possible.

  • A confidential marketing process was undertaken, and a forward funding transaction agreed with Grainger PLC, on a subject to planning basis.
  • We managed the professional team to successfully achieve a new planning permission consisting 139 PRS units, over 7 storeys. The scheme was the first ever bespoke PRS designed scheme granted planning permission in Milton Keynes.
  • We identified the contractor United Living with covenant strength to meet Grainger’s strict requirements and negotiated the build contact with the contractor.
  • The scheme is currently under construction with PC expected in August 2019

Financial Summary

Site Price Acquisition £5,000,000
Site Value on planning £7,000,000
Build Costs £22,000,000
Grainger Forward Funding Price £30,500,000
Profit on Capital (from initial purchase) 33%
Expected Completion 06/19