Development advisory
Development Land & Public Conveyance
Assessment of a parcel’s contribution to a wider residential development before proposed conveyance.
The assignment
gsi prepared a market value appraisal of land proposed for conveyance to a municipality within a broader residential development. The assignment considered the parcel in relation to the development potential of the adjoining lands.
Key considerations
The subject parcel formed part of a wider planning context in which land area and density provisions were relevant to redevelopment. Its contribution could not be understood solely by considering the proposed public ownership in isolation. The valuation also depended on specified assumptions concerning planning approvals and timing. Those assumptions needed to be distinguished from the property’s actual position at the time of the appraisal.
Our approach
gsi reviewed the planning information and the relationship between the parcel and the surrounding development lands. Highest and best use analysis considered the proposed residential development and the contribution of the subject lands. Relevant market evidence was examined to develop an opinion of value on the instructed basis, taking account of the development context and the terms under which the valuation was required.
Purpose of the advice
The report provided independent valuation support for the proposed conveyance. It explained the relationship between the land being transferred, the broader development and the assumptions underlying the market value opinion, giving the parties a basis for reviewing the proposed transaction.
Related expertise
Assignment details have been generalized to protect client and property confidentiality.