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Using the information below and an appropriate methodology, calculate how much your client could afford to bid for the site. The scheme to be appraised

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Using the information below and an appropriate methodology, calculate how much your client could afford to bid for the site. The scheme to be appraised provides 60 residential units, of which 15 are to be affordable. It is to be built in three phases: Phase 1 will include 15 private units and all the affordable units; Phases 2 and 3 will provide 15 private units each. The average unit size will be 135m? Costs Build cost Residential Parking and roads Professional fees Meadow Contamination remediation Residential sale costs Finance rate 950/m 120/m2 9% 100,000 500,000 1.5% 7.5% per annum Revenue Sale price Private residential Affordable 580,000 per unit (average) 1,500,000 total 3 Timescale 6 months Activity Pre-construction Construction Phase Phase 2 Phase 3 Sales for each phase - private Sale of affordable 1.2 months 9 months (beginning on completion of Phase 1) 9 months (beginning on completion of Phase 2) 3 months after completion of the build phase Income received in three equal tranches in Periods 3,5 and 7 The residual appraisal is to be prepared using an Excel spreadsheet. Results prepared using Using the information below and an appropriate methodology, calculate how much your client could afford to bid for the site. The scheme to be appraised provides 60 residential units, of which 15 are to be affordable. It is to be built in three phases: Phase 1 will include 15 private units and all the affordable units; Phases 2 and 3 will provide 15 private units each. The average unit size will be 135m? Costs Build cost Residential Parking and roads Professional fees Meadow Contamination remediation Residential sale costs Finance rate 950/m 120/m2 9% 100,000 500,000 1.5% 7.5% per annum Revenue Sale price Private residential Affordable 580,000 per unit (average) 1,500,000 total 3 Timescale 6 months Activity Pre-construction Construction Phase Phase 2 Phase 3 Sales for each phase - private Sale of affordable 1.2 months 9 months (beginning on completion of Phase 1) 9 months (beginning on completion of Phase 2) 3 months after completion of the build phase Income received in three equal tranches in Periods 3,5 and 7 The residual appraisal is to be prepared using an Excel spreadsheet. Results prepared using

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