Plan Mid Devon Viability Assessment

1. Viability assessment is a process of assessing whether development is financially viable, by looking at whether the value generated by a development is more than the cost of developing it and whether the resulting value is sufficient to bring the site to market. This includes looking at the key elements of gross development value, costs, land value, landowner premium, and developer return. The purpose of this viability assessment is to provide Mid Devon District Council with robust viability evidence to support the preparation and adoption of the district’s new Local Plan (“Plan Mid Devon”). The assessment will provide advice on the viability of new development within the district taking into account relevant national and local factors such as: sales and rental values, construction costs, planning obligations or standards applied as a result of local and national policies, building regulations and other relevant regulatory requirements. A key output will be advice on provision of affordable housing from housing sites. The Assessment will test whether proposed site allocations and policies can realistically be delivered and therefore whether the local plan meets the relevant soundness test.