Hou04a : Appendices

D|S|P Housing & Development Consultants

Appendix I Development Appraisal Assumptions

D|S|P Housing and Development Consultants

Mid Devon District Council- (Draft) Appendix I - Local Plan & CIL Viability Assessment - Residential Assumptions Overview Sheet

Percentage Affordable Percentage Affordable Housing & Tenure Mix Percentage Affordable Housing & Tenure Mix Percentage Affordable Housing & Tenure Mix Percentage Affordable Housing & Tenure Mix Percentage Affordable Housing & Tenure Mix Housing & Tenure Mix 0% Affordable Housing* 20% Affordable Housing* 25% Affordable Housing* 30% Affordable Housing* 35% Affordable Housing* 40% Affordable Housing*

Dwelling Mix Affordable Mix: Tenure Affordable Mix: Tenure Affordable Mix: Tenure Affordable Mix: Tenure Affordable Mix: Tenure Scenario type Appraised Site type (BF = Bed Flat; Split 60% Rent; 40% Split 60% Rent; 40% Split 60% Rent; 40% Split 60% Rent; 40% Split 60% Rent; 40% Private Mix Private Mix Private Mix Private Mix Private Mix Private Mix Build Period (Months) BH = Bed House) Intermediate (shared Intermediate (shared Intermediate (shared Intermediate (shared Intermediate (shared ownership) ownership) ownership) ownership) ownership)

1 House** PDL / Existing Residential 1 x 4BH 1 x 4BH 1 x 4BH n/a 1 x 4BH n/a n/a n/a n/a n/a n/a n/a 6 2 Houses** PDL / Existing Residential 1 x 3BH, 1 x 4BH 1 x 3BH, 1 x 4BH 1 x 3BH, 1 x 4BH n/a 1 x 3BH, 1 x 4BH n/a n/a n/a n/a n/a n/a n/a 6 1 x 2BH, 2 x 3BH, 1 4 Houses** PDL / Existing Residential 1 x 2BH, 2x 3BH, 1 x 4BH 2x 3BH, 1 x 4BH 1 x 2BH n/a n/a n/a n/a n/a n/a n/a n/a 6 x 4BH 6 x 2BH, 2 x 3BH, 1 3 x 2BH, 2 x 3BH, 1 x 2 x 2BH, 2 x 3BH, 1 x 9 Houses** Greenfield / PDL 5 x 2BH, 3 x 3BH, 1 x 4BH 3 x 2BH, 2 x 3BH, 2 x 4BH 1 x 2BH AR; 1 x 2BH SO 3 x 2BH, 2 x 3BH, 2 x 4BH 1 x 2BH AR; 1 x 2BH SO 3 x 2BH, 2 x 3BH, 1 x 4BH 2 x 2BH AR; 1 x 2BH SO 2 x 2BH AR; 1 x 2BH SO 2 x 2BH AR; 2 x 2BH SO 9 x 4BH 4BH 4BH 7 x 2BH, 2 x 3BH, 1 3 x 2BH, 2 x 3BH, 1 x 3 x 2BH, 2 x 3BH, 1 x 10 Houses** Greenfield / PDL n/a 4 x 2BH, 2 x 3BH, 2 x 4BH 1 x 2BH AR; 1 x 2BH SO 4 x 2BH, 2 x 3BH, 1 x 4BH 2 x 2BH AR; 1 x 2BH SO 4 x 2BH, 2 x 3BH, 1 x 4BH 2 x 2BH AR; 1 x 2BH SO 3 x 2BH AR; 1 x 2BH SO 3 x 2BH AR; 1 x 2BH SO 9 x 4BH 4BH 4BH 2 x 1BF, 3 x 2BF, 5 1 x 2BF, 1 x 2BH, 1 x 1 x 1BF, 2 x 2BF, 4 x 2BH, 1 x 1BF, 1 x 2BF AR; 1 x 1 x 1BF, 2 x 2BF, 3 x 2BH, 1 x 1BF, 1 x 2BF, 1 x 2BH 1 x 1BF, 1 x 2BF, 3 x 2BH, 4 x 1 x 2BF, 2 x 2BH AR; 1 x 1 x 1BF, 1 x 2BF, 3 x 2BH, 1 x 2BF, 2 x 2BH AR; 1 x 1 x 1BF, 1 x 2BF, 4 x 15 Mixed Greenfield / PDL x 2BH, 4 x 3BH, 1 x n/a 3BH, AR; 1 x 1BF, 1 x 12 4 x 3BH, 1 x 4BH 2BH SO 4 x 3BH, 1 x 4BH AR; 1 x 2BH SO 3BH, 1 x 4BH 1BF, 1 x 2BF SO 4 x 3BH, 1 x 4BH 1BF, 1 x 2BF SO 2BH, 3 x 3BH, 1 x 4BH 4BH 2BF SO 1 x 1BF, 1 x 2BF, 1 x 1 x 1BF, 1 x 2BF, 2 x 4 x 1BF, 6 x 2BF, 10 1 x 1BF, 1 x 2BF, 1 x 2BH, 1 x 1BF, 1 x 2BF, 1 x 2BH, 1 x 1BF, 1 x 2BF, 2 x 2BH, 2 x 1BF, 5 x 2BF, 8 x 2BH, 2 x 1BF, 4 x 2BF, 8 x 2BH, 2 x 1BF, 4 x 2BF, 7 x 2BH, 6 x 2BH, 1 x 3BH, 1 x 4BH 2 x 1BF, 4 x 2BF, 6 x 2BH, 1 x 1BF, 3 x 2BF, 7 x 2BH, 2 x 3BH 1 x 4BH 30 Mixed Greenfield / PDL x 2BH, 7 x 3BH, 3 x n/a 1 x 3BH AR; 1 x 1 BF, 1 x 1 x 3BH, 1 x 4BH AR; 1 x 1 1 x 3BH, 1 x 4BH AR; 1 x 1 18 6 x 3BH, 3 x 4BH 6 x 3BH, 2 x 4BH 3BH, 2 x 4BH AR; 1 x 1 BF, 1 x 2BF, 2 x 6 x 3BH, 2 x 4BH 2BH, 5 x 3BH, 2 x 4BH AR; 2 x 1BF, 2 x 2BF, 1 x 4BH 2BH SO BF, 1 x 2BF, 1 x 2BH SO BF, 1 x 2BF, 2 x 2BH SO 2BH SO 2BH SO 3 x 1BF, 1 x 2BF AR; 1 x 3 x 1BF, 1 x 2BF AR; 2 x 3 x 1BF, 2 x 2BF AR; 3 x 5 x 1BF, 1 x 2BF AR; 3 x 5 x 1BF, 2 x 2BF AR; 4 x 30 Flats (Sheltered) Greenfield / PDL 22 x 1BF, 8 x 2BF n/a 18 x 1BF, 6 x 2BF 17 x 1BF, 6 x 2BF 16 x 1BF, 5 x 2BF 14 x 1BF, 6 x 2BF 13 x 1BF, 5 x 2BF 18 1BF, 1 x 2BF SO 1BF, 1 x 2BF SO 1BF, 1 x 2BF SO 1BF, 1 x 2BF SO 1BF, 1 x 2BF SO 4 x 1BF, 2 x 2BF, 4 x 5 x 1BF, 3 x 2BF, 5 x 11 x 1BF, 16 x 2BF, 4 x 1BF, 2 x 2BF, 2 x 2BH, 4 x 1BF, 2 x 2BF, 2 x 2BH, 5 x 1BF, 3 x 2BF, 3 x 2BH, 6 x 1BF, 11 x 2BF, 30 x 5 x 1BF, 10 x 2BF, 30 x 5 x 1BF, 10 x 2BF, 27 x 2BH, 2BH, 4 x 3BH, 4 x 4BH 4 x 1BF, 8 x 2BF, 27 x 4 x 1BF, 8 x 2BF, 24 x 2BH, 8 x 3BH, 5 x 4BH 100 Mixed Greenfield / PDL 36 x 2BH, 26 x n/a 2 x 3BH, 2 x 4BH AR, 1 x 4 x 3BH, 3 x 4BH AR, 2 x 6 x 3BH, 5 x 4BH AR, 2 x 24 2BH, 24 x 3BH, 9 x 4BH 2BH, 22 x 3BH, 8 x 4BH 22 x 3BH, 7 x 4BH AR, 2 x 1BF, 4 x 2BF, 5 x 2BH, 20 x 3BH, 6 x 4BH 2BH, 18 x 3BH, 6 x 4BH AR, 2 x 1BF, 5 x 2BF, 7 x 3BH, 11 x 4BH 1BF, 3 x 2BF, 4 x 2BH SO 1BF, 4 x 2BF, 4 x 2BH SO 1BF, 5 x 2BF, 6 x 2BH SO 2BH SO 2BH SO 20 x 1BF, 10 x 2BF, 10 x 20 x 1BF, 10 x 2BF, 10 x 20 x 1BF, 15 x 2BF, 20 x 25 x 1BF, 15 x 2BF, 15 x 25 x 1BF, 15 x 2BF, 25 x 55 x 1BF, 80 x 2BF, 30 x 1BF, 55 x 2BF, 150 x 20 x 1BF, 40 x 2BF, 135 x 20 x 1BF, 40 x 2BF, 120 2BH, 10 x 3BH, 10 x 4BH 25 x 1BF, 50 x 2BF, 150 x 2BH, 20 x 3BH, 15 x 4BH 25 x 1BF, 45 x 2BF, 135 x 2BH, 20 x 3BH, 20 x 4BH 2BH, 30 x 3BH, 25 x 4BH 2BH, 40 x 3BH, 25 x 4BH 500 Mixed Greenfield 180 x 2BH, 130 x n/a 2BH, 120 x 3BH, 45 x 2BH, 100 x 3BH, 30 x x 2BH, 90 x 3BH, 30 x 60*** AR, 5 x 1BF, 15 x 2BF, 20 2BH, 110 x 3BH, 40 x 4BH AR, 10 x 1BF, 20 x 2BF, 20 2BH, 110 x 3BH, 35 x 4BH AR, 10 x 1BF, 20 x 2BF, AR, 10 x 1BF, 25 x 2BF, 30 AR, 10 x 1BF, 25 x 2BF, 3BH, 55 x 4BH 4BH 4BH 4BH x 2BH SO x 2BH SO 25 x 2BH SO x 2BH SO 35 x 2BH SO 110 x 1BF, 160 x 40 x 1BF, 20 x 2BF, 20 x 40 x 1BF, 20 x 2BF, 20 x 40 x 1BF, 30 x 2BF, 40 x 50 x 1BF, 30 x 2BF, 30 x 50 x 1BF, 30 x 2BF, 50 x 60 x 1BF, 110 x 2BF, 300 40 x 1BF, 80 x 2BF, 270 x 40 x 1BF, 80 x 2BF, 240 2BF, 360 x 2BH, 2BH, 20 x 3BH, 20 x 4BH 50 x 1BF, 100 x 2BF, 300 x 2BH, 40 x 3BH, 30 x 4BH 50 x 1BF, 90 x 2BF, 270 x 2BH, 40 x 3BH, 40 x 4BH 2BH, 60 x 3BH, 50 x 4BH 2BH, 80 x 3BH, 50 x 4BH 1,000 Mixed (CU1) Greenfield n/a x 2BH, 240 x 3BH, 90 x 2BH, 200 x 3BH, 60 x x 2BH, 180 x 3BH, 60 x 78*** 260 x 3BH, 110 x AR, 10 x 1BF, 30 x 2BF, 2BH, 220 x 3BH, 80 x 4BH AR, 20 x 1BF, 40 x 2BF, 40 2BH, 220 x 3BH, 70 x 4BH AR, 20 x 1BF, 40 x 2BF, AR, 20 x 1BF, 50 x 2BF, 60 AR, 20 x 1BF, 50 x 2BF, 4BH 4BH 4BH 4BH 40 x 2BH SO x 2BH SO 50 x 2BH SO x 2BH SO 70 x 2BH SO 165 x 1BF, 240 x 60 x 1BF, 30 x 2BF, 30 x 60 x 1BF, 30 x 2BF, 30 x 60 x 1BF, 45 x 2BF, 60 x 75 x 1BF, 45 x 2BF, 45 x 75 x 1BF, 45 x 2BF, 75 x 90 x 1BF, 165 x 2BF, 450 75 x 1BF, 150 x 2BF, 450 x 60 x 1BF, 120 x 2BF, 405 60 x 1BF, 120 x 2BF, 2BF, 540 x 2BH, 2BH, 30 x 3BH, 30 x 4BH 2BH, 60 x 3BH, 45 x 4BH 75 x 1BF, 135 x 2BF, 405 x 2BH, 60 x 3BH, 60 x 4BH 2BH, 90 x 3BH, 75 x 4BH 2BH, 120 x 3BH, 75 x 1,500 Mixed (TIV1) Greenfield n/a x 2BH, 360 x 3BH, 135 x 2BH, 330 x 3BH, 120 x x 2BH, 300 x 3BH, 90 x 360 x 2BH, 270 x 3BH, 120*** 390 x 3BH, 165 x AR, 15 x 1BF, 45 x 2BF, AR, 30 x 1BF, 60 x 2BF, 60 2BH, 330 x 3BH, 105 x 4BH AR, 30 x 1BF, 60 x 2BF, AR, 30 x 1BF, 75 x 2BF, 90 4BH AR, 30 x 1BF, 75 x 4BH 4BH 4BH 90 x 4BH 4BH 60 x 2BH SO x 2BH SO 75 x 2BH SO x 2BH SO 2BF, 105 x 2BH SO 330 x 1BF, 480 x 120 x 1BF, 60 x 2BF, 60 x 120 x 1BF, 60 x 2BF, 60 x 120 x 1BF, 90 x 2BF, 120 150 x 1BF, 90 x 2BF, 90 x 150 x 1BF, 90 x 2BF, 180 x 1BF, 330 x 2BF, 150 x 1BF, 300 x 2BF, 900 120 x 1BF, 240 x 2BF, 120 x 1BF, 240 x 2BF, 2BF, 1080 x 2BH, 2BH, 60 x 3BH, 60 x 4BH 2BH, 120 x 3BH, 90 x 4BH 150 x 1BF, 270 x 2BF, 810 x x 2BH, 120 x 3BH, 120 x 2BH, 180 x 3BH, 150 x 150 x 2BH, 240 x 3BH, 3,000 Mixed (CU11) Greenfield n/a 900 x 2BH, 720 x 3BH, x 2BH, 660 x 3BH, 240 x 810 x 2BH, 600 x 3BH, 720 x 2BH, 540 x 3BH, 180*** 780 x 3BH, 330 x AR, 30 x 1BF, 90 x 2BF, AR, 60 x 1BF, 120 x 2BF, 2BH, 660 x 3BH, 210 x 4BH 4BH AR, 60 x 1BF, 120 x 4BH AR, 60 x 1BF, 150 x 150 x 4BH AR, 60 x 1BF, 270 x 4BH 4BH 180 x 4BH 180 x 4BH 4BH 120 x 2BH SO 120 x 2BH SO 2BF, 150 x 2BH SO 2BF, 180 x 2BH SO 150 x 2BF, 210 x 2BH SO

330 x 1BF, 480 x 120 x 1BF, 60 x 2BF, 60 x 120 x 1BF, 60 x 2BF, 60 x 120 x 1BF, 90 x 2BF, 120 150 x 1BF, 90 x 2BF, 90 x 150 x 1BF, 90 x 2BF, 180 x 1BF, 330 x 2BF, 150 x 1BF, 300 x 2BF, 900 120 x 1BF, 240 x 2BF, 120 x 1BF, 240 x 2BF, 2BF, 1080 x 2BH, 2BH, 60 x 3BH, 60 x 4BH 2BH, 120 x 3BH, 90 x 4BH 150 x 1BF, 270 x 2BF, 810 x x 2BH, 120 x 3BH, 120 x 2BH, 180 x 3BH, 150 x 150 x 2BH, 240 x 3BH, 3,000 Mixed (J27) Greenfield n/a 900 x 2BH, 720 x 3BH, x 2BH, 660 x 3BH, 240 x 810 x 2BH, 600 x 3BH, 720 x 2BH, 540 x 3BH, 180*** 780 x 3BH, 330 x AR, 30 x 1BF, 90 x 2BF, AR, 60 x 1BF, 120 x 2BF, 2BH, 660 x 3BH, 210 x 4BH 4BH AR, 60 x 1BF, 120 x 4BH AR, 60 x 1BF, 150 x 150 x 4BH AR, 60 x 1BF, 270 x 4BH 4BH 180 x 4BH 180 x 4BH 4BH 120 x 2BH SO 120 x 2BH SO 2BF, 150 x 2BH SO 2BF, 180 x 2BH SO 150 x 2BF, 210 x 2BH SO

*Fully applied policy position. Actual percentage will vary due to numbers rounding.

**zero% affordable housing also tested (sensitivity testing) to reflect current Government consultation on affordable housing thresholds.

Possibility of exploring financial contributions on smallest sites - mechanism TBC

Affordable housing mix based on MDDC Meeting Housing Needs SPD. *** Assumes multiple developers NOTE: Densities vary from 25 to 55 dph

Unit Sizes (sq. m)* Affordable Private 1-bed flat 50 45 2-bed flat 67 60 2-bed house 75 75 3-bed house 85 95 4-bed house 110 125

Open Market Value VL1 VL2 VL3 VL4 VL5 VL6 VL7+ Rural Mid Devon Location (Range) Bampton Upper MDDC+ Lowest MDDC (Tiverton, Cullumpton, Crediton) 1 Bed Flat £90,000 £101,250 £112,500 £123,750 £135,000 £146,250 £157,500 2 Bed Flat £120,000 £135,000 £150,000 £165,000 £180,000 £195,000 £210,000 2 Bed House £150,000 £168,750 £187,500 £206,250 £225,000 £243,750 £262,500 3 Bed House £190,000 £213,750 £237,500 £261,250 £285,000 £308,750 £332,500 4 Bed House £250,000 £281,250 £312,500 £343,750 £375,000 £406,250 £437,500 Value House (£/m2) £2,000 £2,250 £2,500 £2,750 £3,000 £3,250 £3,500

Affordable Housing Revenue: Affordable Rented - capitalisation based on up to 80% of net market rent. Average of the four BRMA LHA rates applied for 1 & 2-bed properties (£98 & £125 per week respectively) and £148 & £188 per week respectively for 3 and 4 beds.

Affordable Rent Value: 1-bed flat = £71,378; 2-bed flat = £91,043; 2-bed house = £91,043; 3-bed house = £107,795; 4-bed house = £136,929 Shared Ownership Value: Average of 60% of market value

Appendix I - Development Assumptions D|S|P Housing and Development Consultants

Development / Policy Costs RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs Mixed Developments - generally (£/sq. m) 1 £1,011 Build Costs Estate Housing - generally (£/sq. m) £953 Build Costs Flats - generally (£/sq. m) £1,136 Build Costs (Sheltered Housing - 3-storey) (£/sq.m) 1 £1,151 Build Costs Houses (One-off housing - =<3 units) (£/sq. m) 1 £1,401

Site Prep & Survey Costs (£ / unit) £4,500 £300,000/gross hectare - strategic scale development

Contingencies (% of build cost) 5% Professional & Other Fees (% of build cost) 10.0%

Sustainable Design / Construction Standards (average £ per £1,932 unit E/O cost) - CfSH L42 Sustainable Design / Construction Standards - zero carbon £60/m² Sensitivity Test Only compliance (£/m²)2 Renewable Energy Costs 3 (per unit) (on schemes of 10 or more units only) £1,800 Lifetime Homes (20% of dwellings)4 £1,975 Residual s.106 /non-CIL costs (£ per unit) - small scale PDL / Greenfield sites £1,000 In addition to CIL trial rates applied - taken from s106 costs assumed still to apply after introduction of CIL (site specific mitigation) Residual s.106 /non-CIL costs (£ per unit) - large scale strategic greenfield sites £10,000 (TIV1) TIV1 based on information submitted by the Council otherwise determined through modelling surplus as output of appraisals. Marketing & Sales Costs (%of GDV) 3% Legal Fees on sale (£ per unit) £750

DEVELOPER'S RETURN FOR RISK AND PROFIT Open Market Housing Profit (% of GDV) 20.0% Affordable Housing Profit (% of GDV) 6.0%

FINANCE & ACQUISITION COSTS Arrangement Fees - (% of loan) 2.0% Agents Fees (% of site value) 1.50% Legal Fees (% of site value) 0.75% Stamp Duty Land Tax (% of site value) 0% to 5% HMRC scale Finance Rate - Build (%) 6.5% Finance Rate - Land (%) 6.5%

Notes:

1 Build cost taken as Lower Quartile (Median - sensitivity test) figure from BCIS for that build type - e.g. flats ; houses storey heights etc. and then rounded. Median figure gives a better figure than the Mean as it is not so influenced by rogue figures that can distort the mean on small sample sizes. The BCIS figure for Tiverton has been used (location index 1.04). BCIS data: GIA: Mixed Development (generally): £919/sq. m GIA. Sheltered housing - £1,046/m²; one-off housing (detached): £1,274/m².

BCIS build costs rebased to Average figure of Tiverton Location Factor (compared with national base 100) including preliminaries and contractor's profit but without externals, contingencies or fees.

Above build costs include external works at 10% (added to BCIS basis).

2 The above costs are based on the DCLG Housing Standards Review Impact Assessment costings assuming CfSH L4 base. Appraisals assume cost uplift in line with figures above assuming average cost uplift from each unit type (£1,932 per unit average). Sensitivity testing on Zero Carbon compliance - data taken from Zero Carbon Hub / Sweett - Cost Analysis: Meeting the Zero Carbon Standard (February 2014). Cost of meeting zero carbon against Part L 2010 baseline (note reduced costs against Part L 2013 baseline) - £76/m² (detached houses), £62/m² (semi-detached houses), £57/m² (terraced houses), £43/m² (flats). For the purposes of this study and given that modelling is based on bedroom numbers rather than dwelling type, an average of those costs has been used - £60/m².

3Renewable energy - MDDC require at least 10% of the energy to be used on the development to come from decentralised on-site renewable of LC sources, rising incrementally to 20% by 2020. For the purposes of this study DSP have assumed a cost equivalent to generating 10% on-site renewable energy with costs taken from DCLG Housing Standards Review - average of approximately £1,800 per unit.

4 Allowance to achieve Lifetime Homes Standards acknowledged within report as potential variable cost issue (depending on design etc.).DCLG Housing Standards Review Impact Assessment costings indicate average extra over cost to be £1,045 (works cost) and £930 (additional space cost). Total average for LTH = £1,975 per unit. Building for Life requirements assumed not to add any additional cost over those included.

Appendix I - MD DC - Development Appraisal Assumptions v9.xlsx

Appendix I - Development Assumptions D|S|P Housing and Development Consultants

Mid Devon District Council - (Draft) Appendix I - Local Plan & CIL Viability Assessment - Commercial Assumptions Overview Sheet

Values Range - Annual Rents £/sq. m (unless External works Total Build Cost Development Use Type / Use Class indication Example Scheme Type GIA (sq. m) Site Coverage Site Size (Ha) Build Period (Months)** stated otherwise) Notes: Build Cost cost addition (£/sq. m excl Low Mid High (£/sq. m)* (%) fees etc) Retail - larger format (A1) - convenience Large Supermarket - Town centre 2500 40% 0.63 12 £165 £205 £245 £1,094 20% £1,313 BCIS - Hypermarkets / Supermarkets - generally Retail - larger format (A1) - comparison Retail Warehousing - edge of centre 1500 25% 0.60 7 £100 £125 £150 £607 20% £728 BCIS - Retail Warehousing - up to 1000 sq. m A1- A5 - Small Retail Other retail - town centre 300 70% 0.04 6 £75 £100 £125 £755 20% £906 BCIS - Shops - Generally A1-A5 - Small retail Convenience Stores - Crediton / Cullompton / Tiverton / other areas 300 50% 0.06 6 £70 £100 £130 £774 20% £929 BCIS - Shops - Generally A1-A5 - Small Retail Farm shop, rural unit, café or similar 200 40% 0.05 6 £30 £45 £60 £774 20% £929 BCIS - Shops - Generally B1(a) Offices - Town Centre Office Building 500 60% 0.08 6 £90 £110 £130 £1,374 20% £1,649 BCIS - Offices - 3-5 stories; air-conditioned B1(a) Offices - Out of town centre Office Building (business park type - various) 2500 40% 0.63 12 £90 £110 £130 £1,243 20% £1,492 BCIS - Offices generally

B1(a) Offices - Rural Farm diversification, rural business centres, ancillary to other rural area uses 250 40% 0.06 6 £50 £80 £110 £1,243 20% £1,492 BCIS - Offices generally

B1, B2, B8 - Industrial / Warehousing Start-up / move-on unit 500 40% 0.13 6 £50 £70 £90 £855 20% £1,026 BCIS - Advance factories / offices - mixed facilities (B1) 500 - 2,000 sq. m B1, B2, B8 - Industrial / Warehousing Larger industrial / warehousing unit including offices - edge of centre £642 20% £770 BCIS - Advance factories / offices - mixed facilities (B1) > 2,000 sq. m 2000 40% 0.50 9 £35 £50 £65

C1 - Hotel Hotel - various types - tourism-led (range dependant on market / type). 60-bed. 2800 80% 0.35 14 3000*** 4000*** 5000*** Variable - £1,224 - £1,712/sq. m total BCIS data (specific sites and information review). C2 - Residential Institution Nursing home / care home 3000 60% 0.50 16 £110 £130 £150 £1,400 20% £1,680 BCIS - Nursing Homes, convalescent homes, short stay medical homes Variable - considered on strength of values / costs relationship basis for a range of other development uses including agricultural / horticultural / clinics / fitness / Value / costs relationship strength considered in report leisure / Rural diversification / Farm Shops? Other / Sui Generis Agricultural storage?(D Class uses) etc. * Convenience stores with sales area of less than 3,000 sq ft (280 sq m), assuming longer opening hours.

Development Costs BREAAM / other enhancements addtion contingency (% of cost)1 8% Professional Fees (% of cost) 10% Contingencies (% of cost) 5% Planning / Building Regs etc / insurances (% of cost) 2.0% Site survey / preparation costs / S106 Variable

Finance Costs Finance rate p.a. (including over lead-in and letting / sales period) 6.5% Arrangement / other fees (% of cost) 2.0%

Marketing Costs Advertising Fees (% of annual income) 1% Letting Fees (% of annual income) 10% Purchaser's costs 5.75%

Developer Profit (% of GDV) 20%

Yields Variable applicability - tested across range at 5.0% to 8.0%

Site Acquisition Costs Agents Fees (% of site value) 1.50% Legal Fees (% of site value) 0.75% Stamp Duty (% of value - HMRC scale) 0 to 5%

*BCIS Median - Location Factor for Tiverton (104; compared with 100 base) **BCIS Construction Duration Calculator Appendix I - MD DC - Development Appraisal Assumptions v9.xlsx 1 For non-residential developments requirement for BREEAM Very Good from 2013; Excellent from 2016 plus 10% - 20% on-site renewable / low carbon sources. Cost addition estimate only.

Appendix I - Development Assumptions MDDC Average Local Housing Allowance Rates

Exeter BRMA Mid & East Devon BRMA North Devon BRMA Taunton & West Somerset BRMA Average One Bedroom Rate: £114.23 £92.31 £90.58 £94.34 £97.87 Two Bedrooms Rate: £138.46 £123.82 £115.38 £121.15 £124.70 Three Bedrooms Rate: £161.54 £150.00 £137.31 £144.23 £148.27 Four Bedrooms Rate: £219.23 £190.38 £160.38 £183.46 £188.36 D|S|P Housing & Development Consultants

Appendix IIa Residential Appraisal Results Summary Table 1a: Residual Land Value Results by Value Level & CIL Rate - 1 Unit Scheme - Houses

Residual Land Value (£)

Development Market Floor Typical Location1 & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL Value - £100/m² CIL Value - £120/m² CIL Value - £140/m² CIL Value - £160/m² CIL Value - £180/m² CIL

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £19,330 £16,988 £14,646 £12,305 £9,963 £7,621 £5,280 £2,938 £596 Negative RLV 4 £2,750 £40,961 £38,620 £36,278 £33,936 £31,595 £29,253 £26,911 £24,570 £22,228 £19,886 5 £3,000 £62,593 £60,251 £57,909 £55,568 £53,226 £50,884 £48,543 £46,201 £43,859 £41,518 6 £3,250 £84,224 £81,883 £79,541 £77,199 £74,858 £72,516 £70,174 £67,833 £65,491 £63,149 7 £3,500 £105,856 £103,514 £101,173 £98,831 £96,489 £94,148 £91,806 £89,464 £87,123 £84,781 House PDL / Existing Residual Land Value (£/Ha) 1 125 30 0% AH Residential 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £579,889 £509,639 £439,389 £369,139 £298,889 £228,639 £158,389 £88,140 £17,890 Negative RLV 4 £2,750 £1,228,836 £1,158,586 £1,088,336 £1,018,086 £947,836 £877,586 £807,336 £737,087 £666,837 £596,587 5 £3,000 £1,877,783 £1,807,533 £1,737,283 £1,667,033 £1,596,783 £1,526,533 £1,456,283 £1,386,033 £1,315,784 £1,245,534 6 £3,250 £2,526,729 £2,456,480 £2,386,230 £2,315,980 £2,245,730 £2,175,480 £2,105,230 £2,034,980 £1,964,730 £1,894,481 7 £3,500 £3,175,676 £3,105,427 £3,035,177 £2,964,927 £2,894,677 £2,824,427 £2,754,177 £2,683,927 £2,613,677 £2,543,428 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1b: Residual Land Value Results by Value Level & CIL Rate - 2 Unit Scheme - Houses

Residual Land Value (£)

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £32,017 £27,895 £23,774 £19,653 £15,531 £11,410 £7,289 £3,167 Negative RLV 4 £2,750 £70,088 £65,967 £61,846 £57,724 £53,603 £49,482 £45,360 £41,239 £37,118 £32,996 5 £3,000 £106,780 £102,706 £99,917 £95,796 £91,675 £87,553 £83,432 £79,311 £75,189 £71,068 6 £3,250 £144,401 £140,327 £136,254 £132,180 £128,106 £124,032 £119,959 £115,885 £111,811 £107,738 7 £3,500 £182,022 £177,948 £173,874 £169,801 £165,727 £161,653 £157,579 £153,506 £149,432 £145,358 House PDL / Existing Residual Land Value (£/Ha) 2 220 30 0% AH Residential 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £480,251 £418,431 £356,611 £294,791 £232,971 £171,151 £109,332 £47,512 Negative RLV 4 £2,750 £1,051,324 £989,504 £927,684 £865,864 £804,045 £742,225 £680,405 £618,585 £556,765 £494,945 5 £3,000 £1,601,702 £1,540,596 £1,498,758 £1,436,938 £1,375,118 £1,313,298 £1,251,478 £1,189,658 £1,127,838 £1,066,018 6 £3,250 £2,166,014 £2,104,908 £2,043,803 £1,982,697 £1,921,591 £1,860,486 £1,799,380 £1,738,275 £1,677,169 £1,616,064 7 £3,500 £2,730,326 £2,669,220 £2,608,115 £2,547,009 £2,485,904 £2,424,798 £2,363,692 £2,302,587 £2,241,481 £2,180,376 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1c: Residual Land Value Results by Value Level & CIL Rate - 4 Unit Scheme - Houses

Residual Land Value (£)

Development Market Floor Typical Location1 & Value Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL Value - £100/m² CIL Value - £120/m² CIL Value - £140/m² CIL Value - £160/m² CIL Value - £180/m² CIL

1 £2,000 £96,942 £89,636 £89,636 £75,024 £67,718 £60,412 £53,106 £45,800 £38,494 £31,188 2 £2,250 £162,359 £155,138 £155,138 £140,695 £133,473 £126,252 £119,030 £111,808 £104,587 £98,678 3 £2,500 £223,307 £216,255 £216,255 £207,386 £200,165 £192,943 £185,721 £178,500 £171,278 £164,057 4 £2,750 £288,401 £281,348 £281,348 £267,242 £260,190 £253,137 £246,084 £239,032 £231,979 £224,926 5 £3,000 £353,494 £346,441 £346,441 £332,336 £325,283 £318,230 £311,178 £304,125 £297,072 £290,019 6 £3,250 £418,587 £411,535 £411,535 £397,429 £390,376 £383,324 £376,271 £369,218 £362,166 £355,113 7 £3,500 £477,613 £470,644 £470,644 £456,708 £449,739 £442,771 £435,803 £428,835 £421,866 £420,206 Houses PDL / Existing Residual Land Value (£/Ha) 4 390 30 0% AH Residential 1 £2,000 £727,063 £672,268 £672,268 £562,678 £507,884 £453,089 £398,294 £343,499 £288,704 £233,909 2 £2,250 £1,217,696 £1,163,534 £1,163,534 £1,055,211 £1,001,049 £946,887 £892,725 £838,564 £784,402 £740,088 3 £2,500 £1,674,804 £1,621,909 £1,621,909 £1,555,396 £1,501,235 £1,447,073 £1,392,911 £1,338,749 £1,284,588 £1,230,426 4 £2,750 £2,163,005 £2,110,109 £2,110,109 £2,004,318 £1,951,423 £1,898,527 £1,845,632 £1,792,736 £1,739,841 £1,686,946 5 £3,000 £2,651,205 £2,598,309 £2,598,309 £2,492,518 £2,439,623 £2,386,728 £2,333,832 £2,280,937 £2,228,041 £2,175,146 6 £3,250 £3,139,405 £3,086,509 £3,086,509 £2,980,719 £2,927,823 £2,874,928 £2,822,032 £2,769,137 £2,716,241 £2,663,346 7 £3,500 £3,582,095 £3,529,833 £3,529,833 £3,425,308 £3,373,046 £3,320,784 £3,268,521 £3,216,259 £3,163,997 £3,151,546 Residual Land Value (£)

1 £2,000 £67,607 £61,706 £61,706 £49,905 £44,004 £38,103 £32,202 £26,301 £20,400 £14,499 2 £2,250 £120,547 £114,715 £114,715 £103,049 £98,515 £92,614 £86,713 £80,812 £74,911 £69,010 3 £2,500 £174,413 £168,581 £168,581 £156,915 £151,082 £145,249 £139,417 £133,584 £127,751 £121,918 4 £2,750 £222,555 £216,858 £216,858 £210,781 £204,948 £199,116 £193,283 £187,450 £181,617 £175,784 5 £3,000 £275,130 £269,434 £269,434 £258,041 £252,344 £246,648 £240,952 £235,255 £229,559 £223,862 6 £3,250 £327,706 £322,009 £322,009 £310,616 £304,920 £299,223 £293,527 £287,831 £282,134 £276,438 Houses 7 £3,500 £380,281 £374,585 £374,585 £363,192 £357,495 £351,799 £346,102 £340,406 £334,709 £329,013 25% AH PDL / Existing Residual Land Value (£/Ha) 4 30% AH 315 30 Residential 35% AH 1 £2,000 £507,056 £462,799 £462,799 £374,284 £330,026 £285,769 £241,512 £197,254 £152,997 £108,739 40% AH 2 £2,250 £904,105 £860,359 £860,359 £772,867 £738,863 £694,606 £650,348 £606,091 £561,833 £517,576 3 £2,500 £1,308,101 £1,264,355 £1,264,355 £1,176,863 £1,133,117 £1,089,371 £1,045,625 £1,001,879 £958,133 £914,387 4 £2,750 £1,669,161 £1,626,437 £1,626,437 £1,580,859 £1,537,113 £1,493,367 £1,449,621 £1,405,875 £1,362,129 £1,318,383 5 £3,000 £2,063,476 £2,020,753 £2,020,753 £1,935,306 £1,892,583 £1,849,860 £1,807,137 £1,764,413 £1,721,690 £1,678,967 6 £3,250 £2,457,792 £2,415,068 £2,415,068 £2,329,622 £2,286,899 £2,244,175 £2,201,452 £2,158,729 £2,116,006 £2,073,282 7 £3,500 £2,852,107 £2,809,384 £2,809,384 £2,723,937 £2,681,214 £2,638,491 £2,595,768 £2,553,044 £2,510,321 £2,467,598 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV Test Lower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1d: Residual Land Value Results by Value Level & CIL Rate - 9 Unit Scheme - Houses

Residual Land Value (£)

1 £2,000 £173,148 £158,763 £158,763 £129,994 £115,609 £101,224 £86,839 £73,659 £59,100 £44,542 2 £2,250 £296,675 £282,638 £282,638 £254,564 £240,527 £226,490 £212,453 £198,416 £189,705 £175,320 3 £2,500 £419,359 £405,496 £405,496 £382,934 £368,897 £354,860 £340,823 £326,786 £312,750 £298,713 4 £2,750 £546,097 £532,233 £532,233 £504,507 £490,644 £476,781 £462,918 £449,055 £435,192 £421,329 5 £3,000 £672,834 £658,971 £658,971 £631,245 £617,382 £603,519 £589,656 £575,793 £561,930 £548,067 6 £3,250 £799,572 £785,709 £785,709 £757,983 £744,120 £730,257 £716,394 £702,531 £688,668 £674,805 7 £3,500 £926,310 £912,447 £912,447 £884,721 £870,858 £856,995 £843,132 £829,269 £815,406 £801,543 Houses Residual Land Value (£/Ha) 9 Greenfield / PDL 785 30 0% AH 1 £2,000 £577,159 £529,210 £529,210 £433,312 £385,363 £337,414 £289,465 £245,530 £197,001 £148,472 2 £2,250 £988,916 £942,126 £942,126 £848,547 £801,757 £754,967 £708,178 £661,388 £632,349 £584,400 3 £2,500 £1,397,862 £1,351,652 £1,351,652 £1,276,447 £1,229,658 £1,182,868 £1,136,078 £1,089,288 £1,042,499 £995,709 4 £2,750 £1,820,322 £1,774,112 £1,774,112 £1,681,691 £1,635,481 £1,589,271 £1,543,061 £1,496,851 £1,450,641 £1,404,431 5 £3,000 £2,242,781 £2,196,571 £2,196,571 £2,104,151 £2,057,941 £2,011,731 £1,965,521 £1,919,310 £1,873,100 £1,826,890 6 £3,250 £2,665,240 £2,619,030 £2,619,030 £2,526,610 £2,480,400 £2,434,190 £2,387,980 £2,341,770 £2,295,560 £2,249,350 7 £3,500 £3,087,700 £3,041,490 £3,041,490 £2,949,069 £2,902,859 £2,856,649 £2,810,439 £2,764,229 £2,718,019 £2,671,809 Residual Land Value (£)

1 £2,000 £124,905 £112,719 £112,719 £88,347 £77,405 £65,072 £52,739 £40,406 £28,073 £15,739 2 £2,250 £238,686 £226,794 £226,794 £203,012 £191,121 £184,409 £172,223 £160,037 £147,851 £135,666 3 £2,500 £356,132 £344,240 £344,240 £320,458 £308,567 £296,676 £284,785 £272,894 £261,002 £249,111 4 £2,750 £467,265 £455,521 £455,521 £432,033 £420,289 £408,546 £396,802 £390,340 £378,449 £366,557 5 £3,000 £583,217 £571,474 £571,474 £547,986 £536,242 £524,498 £512,754 £501,011 £489,267 £477,523 6 £3,250 £699,170 £687,426 £687,426 £663,939 £652,195 £640,451 £628,707 £616,963 £605,219 £593,476 7 £3,500 £815,123 £803,379 £803,379 £779,891 £768,147 £756,404 £744,660 £732,916 £721,172 £709,428 Houses Residual Land Value (£/Ha) 9 20% AH Greenfield / PDL 665 30 25% AH 1 £2,000 £416,349 £375,730 £375,730 £294,491 £258,016 £216,906 £175,796 £134,686 £93,575 £52,465 2 £2,250 £795,618 £755,981 £755,981 £676,707 £637,070 £614,696 £574,076 £533,457 £492,838 £452,219 3 £2,500 £1,187,105 £1,147,468 £1,147,468 £1,068,194 £1,028,557 £988,920 £949,282 £909,645 £870,008 £830,371 4 £2,750 £1,557,549 £1,518,403 £1,518,403 £1,440,111 £1,400,965 £1,361,819 £1,322,673 £1,301,132 £1,261,495 £1,221,858 5 £3,000 £1,944,058 £1,904,912 £1,904,912 £1,826,620 £1,787,474 £1,748,328 £1,709,181 £1,670,035 £1,630,889 £1,591,743 6 £3,250 £2,330,567 £2,291,421 £2,291,421 £2,213,129 £2,173,983 £2,134,836 £2,095,690 £2,056,544 £2,017,398 £1,978,252 7 £3,500 £2,717,076 £2,677,930 £2,677,930 £2,599,638 £2,560,491 £2,521,345 £2,482,199 £2,443,053 £2,403,907 £2,364,761 Residual Land Value (£)

1 £2,000 £82,044 £72,029 £72,029 £51,999 £41,984 £31,970 £21,955 £11,940 £1,925 Negative RLV 2 £2,250 £180,247 £170,351 £170,351 £150,561 £140,666 £130,770 £120,875 £110,980 £101,085 £91,190 3 £2,500 £272,246 £262,590 £262,590 £243,278 £233,622 £223,966 £214,310 £204,654 £194,998 £190,662 4 £2,750 £369,251 £359,595 £359,595 £340,283 £330,627 £320,971 £311,315 £301,659 £292,003 £282,347 5 £3,000 £460,053 £450,517 £450,517 £431,444 £421,907 £412,371 £402,835 £398,664 £389,008 £379,352 6 £3,250 £555,824 £546,288 £546,288 £527,215 £517,679 £508,143 £498,606 £489,070 £479,534 £469,997 Houses 7 £3,500 £651,596 £642,059 £642,059 £622,987 £613,450 £603,914 £594,378 £584,841 £575,305 £565,769 Residual Land Value (£/Ha) 9 30% AH Greenfield / PDL 540 30 35% AH 1 £2,000 £273,479 £240,096 £240,096 £173,331 £139,948 £106,565 £73,183 £39,800 £6,417 Negative RLV 2 £2,250 £600,822 £567,838 £567,838 £501,870 £468,886 £435,902 £402,918 £369,933 £336,949 £303,965 3 £2,500 £907,487 £875,300 £875,300 £810,927 £778,741 £746,554 £714,368 £682,181 £649,995 £635,539 4 £2,750 £1,230,837 £1,198,650 £1,198,650 £1,134,277 £1,102,091 £1,069,904 £1,037,718 £1,005,531 £973,344 £941,158 5 £3,000 £1,533,510 £1,501,722 £1,501,722 £1,438,146 £1,406,358 £1,374,570 £1,342,783 £1,328,881 £1,296,694 £1,264,508 6 £3,250 £1,852,748 £1,820,960 £1,820,960 £1,757,384 £1,725,596 £1,693,809 £1,662,021 £1,630,233 £1,598,445 £1,566,657 7 £3,500 £2,171,986 £2,140,198 £2,140,198 £2,076,623 £2,044,835 £2,013,047 £1,981,259 £1,949,471 £1,917,683 £1,885,896 Residual Land Value (£)

1 £2,000 £52,433 £43,809 £43,809 £26,561 £17,938 £9,314 £690 Negative RLV 2 £2,250 £147,343 £138,822 £138,822 £121,780 £113,259 £104,738 £96,217 £87,697 £80,446 £71,822 3 £2,500 £236,593 £228,279 £228,279 £211,649 £203,334 £195,019 £192,033 £183,513 £174,992 £166,471 4 £2,750 £330,033 £321,718 £321,718 £305,089 £296,774 £288,459 £280,144 £271,829 £263,514 £255,199 5 £3,000 £417,814 £409,602 £409,602 £398,528 £390,213 £381,898 £373,584 £365,269 £356,954 £348,639 6 £3,250 £510,065 £501,854 £501,854 £485,430 £477,218 £469,006 £460,794 £452,582 £444,371 £436,159 7 £3,500 £602,317 £594,105 £594,105 £577,681 £569,470 £561,258 £553,046 £544,834 £536,622 £528,410 Houses Residual Land Value (£/Ha) 9 Greenfield / PDL 465 30 40% AH 1 £2,000 £174,777 £146,031 £146,031 £88,538 £59,792 £31,046 £2,299 Negative RLV 2 £2,250 £491,143 £462,740 £462,740 £405,934 £377,531 £349,128 £320,725 £292,322 £268,154 £239,408 3 £2,500 £788,645 £760,929 £760,929 £705,496 £677,780 £650,064 £640,112 £611,709 £583,306 £554,903 4 £2,750 £1,100,110 £1,072,394 £1,072,394 £1,016,962 £989,246 £961,529 £933,813 £906,097 £878,381 £850,664 5 £3,000 £1,392,713 £1,365,340 £1,365,340 £1,328,427 £1,300,711 £1,272,995 £1,245,279 £1,217,563 £1,189,846 £1,162,130 6 £3,250 £1,700,218 £1,672,845 £1,672,845 £1,618,100 £1,590,727 £1,563,354 £1,535,981 £1,508,608 £1,481,235 £1,453,862 7 £3,500 £2,007,723 £1,980,350 £1,980,350 £1,925,605 £1,898,232 £1,870,859 £1,843,486 £1,816,113 £1,788,740 £1,761,368 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1e: Residual Land Value Results by Value Level & CIL Rate - 10 Unit Scheme - Houses

Residual Land Value (£)

1 £2,000 £123,811 £110,251 £110,251 £83,131 £70,766 £57,042 £43,318 £29,594 £15,870 £2,146 2 £2,250 £249,820 £236,588 £236,588 £210,124 £196,891 £189,020 £175,460 £161,900 £148,340 £134,780 3 £2,500 £379,531 £366,299 £366,299 £339,834 £326,602 £313,370 £300,138 £286,905 £273,673 £260,441 4 £2,750 £502,443 £489,375 £489,375 £463,238 £450,170 £437,101 £424,033 £410,965 £397,896 £390,152 5 £3,000 £630,504 £617,436 £617,436 £591,299 £578,231 £565,163 £552,094 £539,026 £525,958 £512,889 6 £3,250 £758,566 £745,497 £745,497 £719,361 £706,292 £693,224 £680,156 £667,087 £654,019 £640,951 7 £3,500 £886,627 £873,559 £873,559 £847,422 £834,354 £821,285 £808,217 £795,149 £782,080 £769,012 Houses 20% AH Residual Land Value (£/Ha) 10 Greenfield / PDL 740 30 1 £2,000 £371,434 £330,753 £330,753 £249,393 £212,297 £171,125 £129,953 £88,781 £47,609 £6,437 2 £2,250 £749,461 £709,765 £709,765 £630,371 £590,674 £567,061 £526,380 £485,700 £445,020 £404,339 3 £2,500 £1,138,594 £1,098,897 £1,098,897 £1,019,503 £979,807 £940,110 £900,413 £860,716 £821,019 £781,323 4 £2,750 £1,507,329 £1,468,124 £1,468,124 £1,389,714 £1,350,509 £1,311,304 £1,272,099 £1,232,894 £1,193,689 £1,170,455 5 £3,000 £1,891,513 £1,852,308 £1,852,308 £1,773,898 £1,734,693 £1,695,488 £1,656,283 £1,617,078 £1,577,873 £1,538,668 6 £3,250 £2,275,697 £2,236,492 £2,236,492 £2,158,082 £2,118,877 £2,079,672 £2,040,467 £2,001,262 £1,962,057 £1,922,852 7 £3,500 £2,659,881 £2,620,676 £2,620,676 £2,542,266 £2,503,061 £2,463,856 £2,424,651 £2,385,446 £2,346,241 £2,307,036 Residual Land Value (£)

1 £2,000 £80,968 £69,563 £69,563 £46,751 £35,345 £23,940 £12,534 £1,128 Negative RLV 2 £2,250 £191,730 £180,460 £180,460 £157,921 £146,651 £135,382 £124,112 £112,843 £101,573 £90,304 3 £2,500 £295,646 £284,649 £284,649 £262,654 £251,657 £240,660 £229,663 £218,666 £207,669 £196,672 4 £2,750 £399,460 £393,918 £393,918 £371,924 £360,927 £349,930 £338,933 £327,936 £316,939 £305,942 5 £3,000 £507,340 £496,479 £496,479 £474,757 £463,896 £453,036 £442,175 £431,314 £420,453 £409,592 6 £3,250 £615,220 £604,359 £604,359 £582,637 £571,777 £560,916 £550,055 £539,194 £528,333 £517,472 7 £3,500 £723,100 £712,239 £712,239 £690,518 £679,657 £668,796 £657,935 £647,074 £636,213 £625,353 Houses 25% AH Residual Land Value (£/Ha) 10 Greenfield / PDL 615 30 30% AH 1 £2,000 £242,905 £208,688 £208,688 £140,253 £106,036 £71,819 £37,601 £3,384 Negative RLV 2 £2,250 £575,189 £541,380 £541,380 £473,763 £439,954 £406,146 £372,337 £338,528 £304,720 £270,911 3 £2,500 £886,937 £853,946 £853,946 £787,963 £754,972 £721,981 £688,990 £655,998 £623,007 £590,016 4 £2,750 £1,198,379 £1,181,755 £1,181,755 £1,115,772 £1,082,781 £1,049,790 £1,016,799 £983,807 £950,816 £917,825 5 £3,000 £1,522,019 £1,489,437 £1,489,437 £1,424,272 £1,391,689 £1,359,107 £1,326,524 £1,293,942 £1,261,359 £1,228,777 6 £3,250 £1,845,660 £1,813,077 £1,813,077 £1,747,912 £1,715,330 £1,682,747 £1,650,165 £1,617,582 £1,585,000 £1,552,417 7 £3,500 £2,169,300 £2,136,718 £2,136,718 £2,071,553 £2,038,970 £2,006,388 £1,973,805 £1,941,223 £1,908,640 £1,876,058 Residual Land Value (£)

1 £2,000 £52,195 £42,180 £42,180 £22,151 £12,136 £2,121 Negative RLV 2 £2,250 £150,732 £140,837 £140,837 £121,047 £111,151 £101,256 £91,361 £82,797 £72,782 £62,767 3 £2,500 £243,401 £233,745 £233,745 £214,433 £204,777 £195,121 £190,833 £180,938 £171,043 £161,147 4 £2,750 £340,406 £330,750 £330,750 £311,438 £301,782 £292,126 £282,470 £272,814 £263,158 £253,502 5 £3,000 £431,542 £422,006 £422,006 £402,933 £398,787 £389,131 £379,475 £369,819 £360,163 £350,507 6 £3,250 £527,313 £517,777 £517,777 £498,704 £489,168 £479,632 £470,095 £460,559 £451,023 £441,486 7 £3,500 £623,085 £613,549 £613,549 £594,476 £584,939 £575,403 £565,867 £556,330 £546,794 £537,258 Houses Residual Land Value (£/Ha) 10 35% AH Greenfield / PDL 540 30 40% AH 1 £2,000 £156,585 £126,541 £126,541 £66,452 £36,407 £6,363 Negative RLV 2 £2,250 £452,197 £422,511 £422,511 £363,140 £333,454 £303,769 £274,083 £248,390 £218,346 £188,301 3 £2,500 £730,202 £701,234 £701,234 £643,298 £614,331 £585,363 £572,499 £542,813 £513,128 £483,442 4 £2,750 £1,021,217 £992,249 £992,249 £934,313 £905,345 £876,378 £847,410 £818,442 £789,474 £760,506 5 £3,000 £1,294,626 £1,266,017 £1,266,017 £1,208,799 £1,196,360 £1,167,392 £1,138,425 £1,109,457 £1,080,489 £1,051,521 6 £3,250 £1,581,940 £1,553,331 £1,553,331 £1,496,113 £1,467,504 £1,438,895 £1,410,286 £1,381,677 £1,353,068 £1,324,459 7 £3,500 £1,869,255 £1,840,646 £1,840,646 £1,783,427 £1,754,818 £1,726,209 £1,697,600 £1,668,991 £1,640,382 £1,611,773 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV Test Lower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set D|S|P Housing Development Consultants June 2014Appendix v2.xlsx IIa Table 1f: Residual Land Value Results by Value Level & CIL Rate - 15 Unit Scheme - Mixed

Residual Land Value (£)

1 £2,000 £101,663 £84,080 £84,080 £50,017 £32,214 £14,411 Negative RLV 2 £2,250 £262,008 £244,865 £244,865 £210,579 £193,435 £176,292 £164,353 £146,770 £129,187 £111,604 3 £2,500 £419,798 £402,874 £402,874 £374,448 £357,305 £340,161 £323,018 £305,875 £288,732 £271,589 4 £2,750 £581,508 £564,585 £564,585 £530,738 £513,815 £496,891 £479,968 £463,044 £446,121 £429,198 5 £3,000 £743,219 £726,295 £726,295 £692,448 £675,525 £658,602 £641,678 £624,755 £607,831 £590,908 6 £3,250 £904,929 £888,006 £888,006 £854,159 £837,235 £820,312 £803,389 £786,465 £769,542 £752,618 7 £3,500 £1,066,640 £1,049,716 £1,049,716 £1,015,869 £998,946 £982,023 £965,099 £948,176 £931,252 £914,329 Mixed Residual Land Value (£/Ha) 15 20% AH Greenfield / PDL 970 30 1 £2,000 £203,326 £168,160 £168,160 £100,034 £64,428 £28,823 Negative RLV 2 £2,250 £524,016 £489,730 £489,730 £421,157 £386,871 £352,584 £328,706 £293,540 £258,374 £223,208 3 £2,500 £839,595 £805,748 £805,748 £748,896 £714,609 £680,323 £646,037 £611,750 £577,464 £543,177 4 £2,750 £1,163,016 £1,129,169 £1,129,169 £1,061,476 £1,027,629 £993,782 £959,935 £926,089 £892,242 £858,395 5 £3,000 £1,486,437 £1,452,590 £1,452,590 £1,384,897 £1,351,050 £1,317,203 £1,283,356 £1,249,510 £1,215,663 £1,181,816 6 £3,250 £1,809,858 £1,776,011 £1,776,011 £1,708,318 £1,674,471 £1,640,624 £1,606,777 £1,572,931 £1,539,084 £1,505,237 7 £3,500 £2,133,279 £2,099,432 £2,099,432 £2,031,739 £1,997,892 £1,964,045 £1,930,198 £1,896,352 £1,862,505 £1,828,658 Residual Land Value (£)

1 £2,000 £73,808 £58,786 £58,786 £25,934 £9,507 Negative RLV 2 £2,250 £222,857 £207,039 £207,039 £175,404 £164,774 £148,550 £132,327 £116,103 £99,880 £83,657 3 £2,500 £374,715 £358,897 £358,897 £327,262 £311,444 £295,626 £279,808 £263,991 £248,173 £232,355 4 £2,750 £519,166 £503,551 £503,551 £472,322 £456,707 £441,092 £425,477 £409,862 £394,247 £378,632 5 £3,000 £669,023 £653,409 £653,409 £622,179 £606,564 £590,949 £575,334 £559,719 £544,104 £528,489 6 £3,250 £818,881 £803,266 £803,266 £772,036 £756,421 £740,806 £725,191 £709,576 £693,962 £678,347 7 £3,500 £968,738 £953,123 £953,123 £921,893 £906,278 £890,663 £875,049 £859,434 £843,819 £828,204 Mixed Residual Land Value (£/Ha) 15 25% AH Greenfield / PDL 895 30 1 £2,000 £147,616 £117,572 £117,572 £51,867 £19,015 Negative RLV 2 £2,250 £445,714 £414,078 £414,078 £350,808 £329,547 £297,100 £264,653 £232,207 £199,760 £167,313 3 £2,500 £749,430 £717,794 £717,794 £654,523 £622,888 £591,252 £559,617 £527,982 £496,346 £464,711 4 £2,750 £1,038,332 £1,007,103 £1,007,103 £944,643 £913,413 £882,184 £850,954 £819,724 £788,494 £757,265 5 £3,000 £1,338,047 £1,306,817 £1,306,817 £1,244,358 £1,213,128 £1,181,898 £1,150,668 £1,119,438 £1,088,209 £1,056,979 6 £3,250 £1,637,761 £1,606,531 £1,606,531 £1,544,072 £1,512,842 £1,481,612 £1,450,383 £1,419,153 £1,387,923 £1,356,693 7 £3,500 £1,937,476 £1,906,246 £1,906,246 £1,843,786 £1,812,557 £1,781,327 £1,750,097 £1,718,867 £1,687,637 £1,656,408 Residual Land Value (£)

1 £2,000 £62,720 £47,395 £47,395 £16,744 £1,419 Negative RLV 2 £2,250 £206,029 £191,271 £191,271 £166,969 £151,833 £136,698 £121,562 £106,426 £91,290 £76,154 3 £2,500 £353,049 £338,291 £338,291 £308,777 £294,020 £279,262 £264,505 £249,748 £234,990 £220,233 4 £2,750 £493,021 £478,453 £478,453 £449,317 £434,749 £420,181 £405,613 £391,045 £376,476 £367,253 5 £3,000 £638,104 £623,536 £623,536 £594,400 £579,832 £565,264 £550,696 £536,128 £521,560 £506,991 6 £3,250 £783,187 £768,619 £768,619 £739,483 £724,915 £710,347 £695,779 £681,211 £666,643 £652,075 7 £3,500 £928,270 £913,702 £913,702 £884,566 £869,998 £855,430 £840,862 £826,294 £811,726 £797,158 Mixed 30 AH Residual Land Value (£/Ha) 15 Greenfield / PDL 835 30 35% AH 1 £2,000 £125,439 £94,789 £94,789 £33,489 £2,839 Negative RLV 2 £2,250 £412,058 £382,543 £382,543 £333,938 £303,667 £273,395 £243,124 £212,852 £182,580 £152,309 3 £2,500 £706,098 £676,583 £676,583 £617,554 £588,039 £558,524 £529,010 £499,495 £469,981 £440,466 4 £2,750 £986,042 £956,906 £956,906 £898,634 £869,498 £840,361 £811,225 £782,089 £752,953 £734,506 5 £3,000 £1,276,208 £1,247,072 £1,247,072 £1,188,800 £1,159,664 £1,130,528 £1,101,391 £1,072,255 £1,043,119 £1,013,983 6 £3,250 £1,566,375 £1,537,238 £1,537,238 £1,478,966 £1,449,830 £1,420,694 £1,391,558 £1,362,421 £1,333,285 £1,304,149 7 £3,500 £1,856,541 £1,827,405 £1,827,405 £1,769,132 £1,739,996 £1,710,860 £1,681,724 £1,652,588 £1,623,451 £1,594,315 Residual Land Value (£)

1 £2,000 £20,825 £5,867 £5,867 Negative RLV 2 £2,250 £167,676 £152,903 £152,903 £123,356 £108,583 £93,810 £79,037 £65,620 £50,662 £35,704 3 £2,500 £306,194 £291,790 £291,790 £262,982 £248,578 £234,174 £219,770 £205,367 £190,963 £176,559 4 £2,750 £443,571 £429,352 £429,352 £400,914 £386,695 £372,475 £363,587 £349,184 £334,780 £320,376 5 £3,000 £585,493 £571,274 £571,274 £542,836 £528,617 £514,398 £500,178 £485,959 £471,740 £457,521 6 £3,250 £727,416 £713,196 £713,196 £684,758 £670,539 £656,320 £642,101 £627,882 £613,662 £599,443 7 £3,500 £869,338 £855,119 £855,119 £826,680 £812,461 £798,242 £784,023 £769,804 £755,585 £741,366 Mixed Residual Land Value (£/Ha) 15 40% AH Greenfield / PDL 815 30 1 £2,000 £41,650 £11,734 £11,734 Negative RLV 2 £2,250 £335,353 £305,806 £305,806 £246,713 £217,166 £187,620 £158,073 £131,241 £101,325 £71,409 3 £2,500 £612,387 £583,579 £583,579 £525,964 £497,156 £468,349 £439,541 £410,733 £381,925 £353,118 4 £2,750 £887,142 £858,704 £858,704 £801,827 £773,389 £744,951 £727,175 £698,367 £669,559 £640,752 5 £3,000 £1,170,987 £1,142,548 £1,142,548 £1,085,672 £1,057,234 £1,028,795 £1,000,357 £971,919 £943,480 £915,042 6 £3,250 £1,454,831 £1,426,393 £1,426,393 £1,369,516 £1,341,078 £1,312,640 £1,284,201 £1,255,763 £1,227,325 £1,198,887 7 £3,500 £1,738,676 £1,710,237 £1,710,237 £1,653,361 £1,624,922 £1,596,484 £1,568,046 £1,539,608 £1,511,169 £1,482,731 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1g: Residual Land Value Results by Value Level & CIL Rate - 30 Unit Scheme - Mixed

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £126,422 £97,841 £97,841 £29,285 Negative RLV 2 £2,250 £429,631 £396,728 £396,728 £330,923 £303,429 £270,067 £236,706 £203,345 £169,984 £136,623 3 £2,500 £735,689 £702,786 £702,786 £636,981 £604,078 £571,176 £538,273 £505,371 £472,468 £439,566 4 £2,750 £1,041,747 £1,008,844 £1,008,844 £943,039 £910,137 £877,234 £844,331 £811,429 £778,526 £745,624 5 £3,000 £1,347,805 £1,314,902 £1,314,902 £1,249,097 £1,216,195 £1,183,292 £1,150,390 £1,117,487 £1,084,584 £1,051,682 6 £3,250 £1,653,863 £1,620,961 £1,620,961 £1,555,155 £1,522,253 £1,489,350 £1,456,448 £1,423,545 £1,390,643 £1,357,740 7 £3,500 £1,959,921 £1,927,019 £1,927,019 £1,861,214 £1,828,311 £1,795,408 £1,762,506 £1,729,603 £1,696,701 £1,663,798 Mixed Residual Land Value (£/Ha) 30 20% AH Greenfield / PDL 1935 30 1 £2,000 £126,422 £97,841 £97,841 £29,285 Negative RLV 2 £2,250 £429,631 £396,728 £396,728 £330,923 £303,429 £270,067 £236,706 £203,345 £169,984 £136,623 3 £2,500 £735,689 £702,786 £702,786 £636,981 £604,078 £571,176 £538,273 £505,371 £472,468 £439,566 4 £2,750 £1,041,747 £1,008,844 £1,008,844 £943,039 £910,137 £877,234 £844,331 £811,429 £778,526 £745,624 5 £3,000 £1,347,805 £1,314,902 £1,314,902 £1,249,097 £1,216,195 £1,183,292 £1,150,390 £1,117,487 £1,084,584 £1,051,682 6 £3,250 £1,653,863 £1,620,961 £1,620,961 £1,555,155 £1,522,253 £1,489,350 £1,456,448 £1,423,545 £1,390,643 £1,357,740 7 £3,500 £1,959,921 £1,927,019 £1,927,019 £1,861,214 £1,828,311 £1,795,408 £1,762,506 £1,729,603 £1,696,701 £1,663,798 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 Negative RLV 2 £2,250 £231,614 £206,184 £206,184 £155,323 £129,892 £109,635 £83,505 £57,376 £31,246 £6,305 3 £2,500 £483,510 £458,429 £458,429 £408,268 £383,187 £358,106 £333,025 £313,510 £288,080 £262,649 4 £2,750 £739,740 £714,659 £714,659 £664,498 £639,417 £614,336 £589,256 £564,175 £539,094 £514,013 5 £3,000 £995,970 £970,890 £970,890 £920,728 £895,647 £870,567 £845,486 £820,405 £795,324 £770,244 6 £3,250 £1,252,201 £1,227,120 £1,227,120 £1,176,958 £1,151,878 £1,126,797 £1,101,716 £1,076,635 £1,051,555 £1,026,474 7 £3,500 £1,508,431 £1,483,350 £1,483,350 £1,433,189 £1,408,108 £1,383,027 £1,357,946 £1,332,866 £1,307,785 £1,282,704 Mixed Residual Land Value (£/Ha) 30 40% AH Greenfield / PDL 1475 30 1 £2,000 Negative RLV 2 £2,250 £231,614 £206,184 £206,184 £155,323 £129,892 £109,635 £83,505 £57,376 £31,246 £6,305 3 £2,500 £483,510 £458,429 £458,429 £408,268 £383,187 £358,106 £333,025 £313,510 £288,080 £262,649 4 £2,750 £739,740 £714,659 £714,659 £664,498 £639,417 £614,336 £589,256 £564,175 £539,094 £514,013 5 £3,000 £995,970 £970,890 £970,890 £920,728 £895,647 £870,567 £845,486 £820,405 £795,324 £770,244 6 £3,250 £1,252,201 £1,227,120 £1,227,120 £1,176,958 £1,151,878 £1,126,797 £1,101,716 £1,076,635 £1,051,555 £1,026,474 7 £3,500 £1,508,431 £1,483,350 £1,483,350 £1,433,189 £1,408,108 £1,383,027 £1,357,946 £1,332,866 £1,307,785 £1,282,704 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Appendix IIa - MDDCC Residential Results New Set Source: Dixon Searle LLP (2014) June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1h: Residual Land Value Results by Value Level & CIL Rate - 30 Unit Scheme - Flats (Sheltered)

Residual Land Value (£)

7 £3,500 £577,973 £548,608 £519,244 £489,879 £460,514 £431,149 £401,785 £372,420 £343,055 £313,691 8 £3,750 £985,214 £955,850 £926,484 £897,120 £867,755 £838,391 £809,026 £779,661 £750,296 £720,931 9 £4,000 £1,392,455 £1,363,090 £1,333,725 £1,304,360 £1,274,996 £1,245,631 £1,216,266 £1,186,902 £1,157,537 £1,128,172 10 £4,250 £1,799,695 £1,770,331 £1,740,966 £1,711,601 £1,682,237 £1,652,871 £1,623,507 £1,594,142 £1,564,778 £1,535,412 Flats 30 20% AH Greenfield / PDL 1175 125 Residual Land Value (£/Ha) 7 £3,500 £2,408,221 £2,285,869 £2,163,515 £2,041,163 £1,918,808 £1,796,455 £1,674,103 £1,551,750 £1,429,397 £1,307,044 8 £3,750 £4,105,057 £3,982,707 £3,860,350 £3,737,999 £3,615,647 £3,493,295 £3,370,940 £3,248,586 £3,126,233 £3,003,880 9 £4,000 £5,801,894 £5,679,542 £5,557,186 £5,434,834 £5,312,482 £5,190,128 £5,067,777 £4,945,425 £4,823,069 £4,700,716 10 £4,250 £7,498,730 £7,376,378 £7,254,025 £7,131,669 £7,009,319 £6,886,964 £6,764,612 £6,642,260 £6,519,907 £6,397,551 Residual Land Value (£)

7 £3,500 £540,039 £511,804 £483,568 £455,333 £427,098 £398,862 £370,627 £342,393 £314,157 £285,922 8 £3,750 £944,318 £916,082 £887,848 £859,612 £831,377 £803,142 £774,906 £746,671 £718,435 £690,200 9 £4,000 £1,348,597 £1,320,362 £1,292,126 £1,263,891 £1,235,656 £1,207,421 £1,179,185 £1,150,950 £1,122,714 £1,094,479 10 £4,250 £1,752,876 £1,724,641 £1,696,405 £1,668,170 £1,639,934 £1,611,700 £1,583,465 £1,555,229 £1,526,994 £1,498,758 Flats 30 25% AH Greenfield / PDL 1125 125 Residual Land Value (£/Ha) 7 £3,500 £2,250,162 £2,132,518 £2,014,868 £1,897,223 £1,779,575 £1,661,926 £1,544,280 £1,426,636 £1,308,987 £1,191,340 8 £3,750 £3,934,657 £3,817,010 £3,699,365 £3,581,716 £3,464,072 £3,346,424 £3,228,775 £3,111,128 £2,993,481 £2,875,833 9 £4,000 £5,619,154 £5,501,507 £5,383,859 £5,266,212 £5,148,567 £5,030,920 £4,913,271 £4,795,625 £4,677,976 £4,560,330 10 £4,250 £7,303,651 £7,186,002 £7,068,355 £6,950,710 £6,833,060 £6,715,416 £6,597,769 £6,480,121 £6,362,473 £6,244,826 Residual Land Value (£)

7 £3,500 £422,705 £397,105 £371,505 £345,905 £320,305 £294,705 £269,105 £243,505 £217,905 £192,305 8 £3,750 £804,533 £778,933 £753,333 £727,732 £702,133 £676,533 £650,933 £625,333 £599,732 £574,132 9 £4,000 £1,186,361 £1,160,760 £1,135,160 £1,109,560 £1,083,960 £1,058,360 £1,032,761 £1,007,161 £981,561 £955,960 10 £4,250 £1,568,188 £1,542,588 £1,516,988 £1,491,388 £1,465,788 £1,440,188 £1,414,588 £1,388,988 £1,363,388 £1,337,788 Flats 30 30% AH Greenfield / PDL 1020 125 Residual Land Value (£/Ha) 7 £3,500 £1,761,271 £1,654,606 £1,547,937 £1,441,271 £1,334,606 £1,227,938 £1,121,272 £1,014,605 £907,939 £801,273 8 £3,750 £3,352,221 £3,245,552 £3,138,885 £3,032,218 £2,925,552 £2,818,886 £2,712,221 £2,605,554 £2,498,884 £2,392,219 9 £4,000 £4,943,170 £4,836,500 £4,729,834 £4,623,167 £4,516,501 £4,409,834 £4,303,170 £4,196,503 £4,089,837 £3,983,167 10 £4,250 £6,534,115 £6,427,449 £6,320,784 £6,214,117 £6,107,451 £6,000,784 £5,894,115 £5,787,449 £5,680,784 £5,574,118 Residual Land Value (£)

7 £3,500 £386,312 £361,465 £336,618 £311,771 £286,924 £262,077 £237,230 £212,383 £187,536 £162,688 8 £3,750 £758,395 £733,548 £708,700 £683,853 £659,006 £634,160 £609,313 £584,466 £559,619 £534,771 9 £4,000 £1,130,478 £1,105,631 £1,080,783 £1,055,937 £1,031,090 £1,006,242 £981,395 £956,548 £931,702 £906,854 10 £4,250 £1,502,561 £1,477,713 £1,452,867 £1,428,020 £1,403,173 £1,378,326 £1,353,478 £1,328,631 £1,303,784 £1,278,937 Flats 30 35% AH Greenfield / PDL 990 125 Residual Land Value (£/Ha) 7 £3,500 £1,609,634 £1,506,103 £1,402,573 £1,299,047 £1,195,516 £1,091,988 £988,457 £884,927 £781,400 £677,869 8 £3,750 £3,159,977 £3,056,448 £2,952,919 £2,849,389 £2,745,859 £2,642,333 £2,538,804 £2,435,273 £2,331,744 £2,228,214 9 £4,000 £4,710,325 £4,606,794 £4,503,264 £4,399,738 £4,296,206 £4,192,677 £4,089,146 £3,985,617 £3,882,091 £3,778,560 10 £4,250 £6,260,671 £6,157,139 £6,053,613 £5,950,083 £5,846,553 £5,743,023 £5,639,492 £5,535,963 £5,432,435 £5,328,906 Residual Land Value (£)

7 £3,500 £268,978 £246,766 £224,555 £202,342 £180,131 £157,919 £135,707 £113,495 £91,283 £69,072 8 £3,750 £618,610 £596,397 £574,186 £551,974 £529,762 £507,550 £485,339 £463,127 £440,916 £418,704 9 £4,000 £968,241 £946,029 £923,818 £901,606 £879,394 £857,182 £834,970 £812,759 £790,547 £768,335 10 £4,250 £1,317,873 £1,295,661 £1,273,450 £1,251,237 £1,229,026 £1,206,814 £1,184,602 £1,162,391 £1,140,179 £1,117,967 Flats 30 40% AH Greenfield / PDL 885 125 Residual Land Value (£/Ha) 7 £3,500 £1,120,742 £1,028,193 £935,644 £843,092 £750,546 £657,997 £565,446 £472,896 £380,347 £287,799 8 £3,750 £2,577,541 £2,484,989 £2,392,442 £2,299,892 £2,207,343 £2,114,794 £2,022,248 £1,929,696 £1,837,150 £1,744,598 9 £4,000 £4,034,337 £3,941,789 £3,849,242 £3,756,693 £3,664,143 £3,571,592 £3,479,043 £3,386,495 £3,293,947 £3,201,396 10 £4,250 £5,491,138 £5,398,587 £5,306,041 £5,213,489 £5,120,940 £5,028,392 £4,935,843 £4,843,295 £4,750,747 £4,658,196 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha)

D|S|P Housing DevelopmentSource: ConsultantsDixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set Appendix IIa June 2014 v2.xlsx Table 1i: Residual Land Value Results by Value Level & CIL Rate - 100 Unit Scheme - Mixed

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £760,825 £638,830 £516,834 £394,838 £272,843 £150,847 £28,852 Negative RLV 2 £2,250 £1,884,463 £1,762,467 £1,640,472 £1,518,476 £1,396,480 £1,274,484 £1,152,489 £1,030,494 £908,498 £786,502 3 £2,500 £3,008,101 £2,886,105 £2,764,109 £2,642,113 £2,520,118 £2,398,122 £2,276,127 £2,154,131 £2,032,136 £1,910,141 4 £2,750 £4,131,738 £4,009,742 £3,887,747 £3,765,751 £3,643,756 £3,521,761 £3,399,765 £3,277,769 £3,155,774 £3,033,778 5 £3,000 £5,255,376 £5,133,380 £5,011,385 £4,889,389 £4,767,393 £4,645,398 £4,523,403 £4,401,407 £4,279,411 £4,157,416 6 £3,250 £6,379,014 £6,257,018 £6,135,023 £6,013,027 £5,891,031 £5,769,036 £5,647,040 £5,525,045 £5,403,049 £5,281,054 7 £3,500 £7,502,652 £7,380,656 £7,258,661 £7,136,665 £7,014,669 £6,892,673 £6,770,678 £6,648,682 £6,526,686 £6,404,691 Mixed Residual Land Value (£/Ha) 100 20% AH Greenfield / PDL 6505 35 1 £2,000 £266,289 £223,590 £180,892 £138,193 £95,495 £52,796 £10,098 Negative RLV 2 £2,250 £659,562 £616,863 £574,165 £531,467 £488,768 £446,070 £403,371 £360,673 £317,974 £275,276 3 £2,500 £1,052,835 £1,010,137 £967,438 £924,740 £882,041 £839,343 £796,644 £753,946 £711,248 £668,549 4 £2,750 £1,446,108 £1,403,410 £1,360,712 £1,318,013 £1,275,314 £1,232,616 £1,189,918 £1,147,219 £1,104,521 £1,061,822 5 £3,000 £1,839,382 £1,796,683 £1,753,985 £1,711,286 £1,668,588 £1,625,889 £1,583,191 £1,540,492 £1,497,794 £1,455,096 6 £3,250 £2,232,655 £2,189,956 £2,147,258 £2,104,559 £2,061,861 £2,019,163 £1,976,464 £1,933,766 £1,891,067 £1,848,369 7 £3,500 £2,625,928 £2,583,230 £2,540,531 £2,497,833 £2,455,134 £2,412,436 £2,369,737 £2,327,039 £2,284,340 £2,241,642 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £630,011 £515,888 £401,766 £287,644 £173,523 £59,400 Negative RLV 2 £2,250 £1,699,499 £1,585,377 £1,471,255 £1,357,133 £1,243,011 £1,128,889 £1,014,767 £900,645 £786,523 £672,401 3 £2,500 £2,768,988 £2,654,865 £2,540,744 £2,426,621 £2,312,499 £2,198,378 £2,084,256 £1,970,134 £1,856,011 £1,741,890 4 £2,750 £3,838,476 £3,724,354 £3,610,232 £3,496,110 £3,381,988 £3,267,866 £3,153,745 £3,039,623 £2,925,501 £2,811,378 5 £3,000 £4,907,965 £4,793,842 £4,679,720 £4,565,598 £4,451,477 £4,337,355 £4,223,233 £4,109,111 £3,994,989 £3,880,867 6 £3,250 £5,977,454 £5,863,332 £5,749,210 £5,635,088 £5,520,965 £5,406,844 £5,292,721 £5,178,600 £5,064,477 £4,950,355 7 £3,500 £7,046,942 £6,932,819 £6,818,698 £6,704,576 £6,590,454 £6,476,332 £6,362,211 £6,248,088 £6,133,966 £6,019,844 Mixed Residual Land Value (£/Ha) 100 25% AH Greenfield / PDL 6165 35 1 £2,000 £220,504 £180,561 £140,618 £100,675 £60,733 £20,790 Negative RLV 2 £2,250 £594,825 £554,882 £514,939 £474,997 £435,054 £395,111 £355,168 £315,226 £275,283 £235,340 3 £2,500 £969,146 £929,203 £889,260 £849,317 £809,375 £769,432 £729,490 £689,547 £649,604 £609,662 4 £2,750 £1,343,467 £1,303,524 £1,263,581 £1,223,638 £1,183,696 £1,143,753 £1,103,811 £1,063,868 £1,023,925 £983,982 5 £3,000 £1,717,788 £1,677,845 £1,637,902 £1,597,959 £1,558,017 £1,518,074 £1,478,131 £1,438,189 £1,398,246 £1,358,304 6 £3,250 £2,092,109 £2,052,166 £2,012,223 £1,972,281 £1,932,338 £1,892,395 £1,852,453 £1,812,510 £1,772,567 £1,732,624 7 £3,500 £2,466,430 £2,426,487 £2,386,544 £2,346,602 £2,306,659 £2,266,716 £2,226,774 £2,186,831 £2,146,888 £2,106,946 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £526,793 £419,055 £311,317 £203,580 £95,841 Negative RLV 2 £2,250 £1,549,576 £1,441,838 £1,334,100 £1,226,362 £1,118,624 £1,010,887 £903,149 £795,411 £687,672 £579,934 3 £2,500 £2,572,359 £2,464,621 £2,356,883 £2,249,145 £2,141,408 £2,033,670 £1,925,932 £1,818,194 £1,710,456 £1,602,717 4 £2,750 £3,595,143 £3,487,405 £3,379,667 £3,271,929 £3,164,190 £3,056,452 £2,948,715 £2,840,977 £2,733,239 £2,625,501 5 £3,000 £4,617,925 £4,510,187 £4,402,449 £4,294,712 £4,186,973 £4,079,236 £3,971,498 £3,863,760 £3,756,022 £3,648,284 6 £3,250 £5,640,709 £5,532,971 £5,425,233 £5,317,494 £5,209,756 £5,102,019 £4,994,281 £4,886,543 £4,778,805 £4,671,067 7 £3,500 £6,663,492 £6,555,754 £6,448,016 £6,340,278 £6,232,540 £6,124,802 £6,017,064 £5,909,326 £5,801,588 £5,693,851 Mixed Residual Land Value (£/Ha) 100 30% AH Greenfield / PDL 5815 35 1 £2,000 £184,377 £146,669 £108,961 £71,253 £33,544 Negative RLV 2 £2,250 £542,352 £504,643 £466,935 £429,227 £391,518 £353,810 £316,102 £278,394 £240,685 £202,977 3 £2,500 £900,326 £862,617 £824,909 £787,201 £749,493 £711,784 £674,076 £636,368 £598,660 £560,951 4 £2,750 £1,258,300 £1,220,592 £1,182,883 £1,145,175 £1,107,467 £1,069,758 £1,032,050 £994,342 £956,634 £918,925 5 £3,000 £1,616,274 £1,578,566 £1,540,857 £1,503,149 £1,465,441 £1,427,733 £1,390,024 £1,352,316 £1,314,608 £1,276,899 6 £3,250 £1,974,248 £1,936,540 £1,898,831 £1,861,123 £1,823,415 £1,785,707 £1,747,998 £1,710,290 £1,672,582 £1,634,873 7 £3,500 £2,332,222 £2,294,514 £2,256,806 £2,219,097 £2,181,389 £2,143,681 £2,105,972 £2,068,264 £2,030,556 £1,992,848 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £398,695 £300,047 £201,398 £102,750 Negative RLV 2 £2,250 £1,361,491 £1,262,843 £1,164,194 £1,065,546 £966,897 £868,250 £769,601 £670,953 £572,304 £473,656 3 £2,500 £2,324,286 £2,225,639 £2,126,990 £2,028,341 £1,929,693 £1,831,045 £1,732,397 £1,633,748 £1,535,100 £1,436,451 4 £2,750 £3,287,083 £3,188,435 £3,089,786 £2,991,137 £2,892,490 £2,793,841 £2,695,193 £2,596,544 £2,497,896 £2,399,248 5 £3,000 £4,249,878 £4,151,230 £4,052,581 £3,953,934 £3,855,285 £3,756,636 £3,657,989 £3,559,340 £3,460,692 £3,362,044 6 £3,250 £5,212,674 £5,114,025 £5,015,378 £4,916,729 £4,818,080 £4,719,433 £4,620,784 £4,522,136 £4,423,488 £4,324,839 7 £3,500 £6,175,470 £6,076,822 £5,978,173 £5,879,525 £5,780,877 £5,682,228 £5,583,580 £5,484,932 £5,386,283 £5,287,635 Mixed Residual Land Value (£/Ha) 100 35% AH Greenfield / PDL 5335 35 1 £2,000 £139,543 £105,016 £70,489 £35,962 Negative RLV 2 £2,250 £476,522 £441,995 £407,468 £372,941 £338,414 £303,887 £269,360 £234,833 £200,306 £165,780 3 £2,500 £813,500 £778,973 £744,446 £709,919 £675,393 £640,866 £606,339 £571,812 £537,285 £502,758 4 £2,750 £1,150,479 £1,115,952 £1,081,425 £1,046,898 £1,012,371 £977,844 £943,317 £908,791 £874,263 £839,737 5 £3,000 £1,487,457 £1,452,930 £1,418,403 £1,383,877 £1,349,350 £1,314,823 £1,280,296 £1,245,769 £1,211,242 £1,176,715 6 £3,250 £1,824,436 £1,789,909 £1,755,382 £1,720,855 £1,686,328 £1,651,801 £1,617,274 £1,582,747 £1,548,221 £1,513,694 7 £3,500 £2,161,415 £2,126,888 £2,092,361 £2,057,834 £2,023,307 £1,988,780 £1,954,253 £1,919,726 £1,885,199 £1,850,672 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £281,074 £189,995 £98,916 £7,837 Negative RLV 2 £2,250 £1,186,728 £1,095,649 £1,004,570 £913,492 £822,413 £731,334 £640,256 £549,177 £458,098 £367,019 3 £2,500 £2,092,383 £2,001,304 £1,910,225 £1,819,147 £1,728,068 £1,636,989 £1,545,910 £1,454,832 £1,363,753 £1,272,674 4 £2,750 £2,998,036 £2,906,958 £2,815,880 £2,724,800 £2,633,722 £2,542,644 £2,451,564 £2,360,486 £2,269,407 £2,178,329 5 £3,000 £3,903,692 £3,812,612 £3,721,534 £3,630,455 £3,539,376 £3,448,297 £3,357,219 £3,266,141 £3,175,062 £3,083,983 6 £3,250 £4,809,346 £4,718,267 £4,627,189 £4,536,109 £4,445,031 £4,353,953 £4,262,873 £4,171,795 £4,080,716 £3,989,637 7 £3,500 £5,715,000 £5,623,922 £5,532,843 £5,441,764 £5,350,685 £5,259,607 £5,168,528 £5,077,449 £4,986,371 £4,895,292 Mixed Residual Land Value (£/Ha) 100 40% AH Greenfield / PDL 4920 35 1 £2,000 £98,376 £66,498 £34,621 £2,743 Negative RLV 2 £2,250 £415,355 £383,477 £351,600 £319,722 £287,845 £255,967 £224,090 £192,212 £160,334 £128,457 3 £2,500 £732,334 £700,456 £668,579 £636,701 £604,824 £572,946 £541,068 £509,191 £477,314 £445,436 4 £2,750 £1,049,313 £1,017,435 £985,558 £953,680 £921,803 £889,925 £858,048 £826,170 £794,293 £762,415 5 £3,000 £1,366,292 £1,334,414 £1,302,537 £1,270,659 £1,238,782 £1,206,904 £1,175,027 £1,143,149 £1,111,272 £1,079,394 6 £3,250 £1,683,271 £1,651,393 £1,619,516 £1,587,638 £1,555,761 £1,523,883 £1,492,006 £1,460,128 £1,428,251 £1,396,373 7 £3,500 £2,000,250 £1,968,373 £1,936,495 £1,904,617 £1,872,740 £1,840,862 £1,808,985 £1,777,107 £1,745,230 £1,713,352 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set Housing Development Consultants Appendix IIa D|S|P June 2014 v2.xlsx Table 1j: Residual Land Value Results by Value Level & CIL Rate - 500 Unit Scheme - Mixed

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £2,235,912 £1,625,934 £1,015,956 £405,977 Negative RLV 2 £2,250 £7,351,543 £6,741,564 £6,131,586 £5,521,609 £4,911,630 £4,301,652 £3,691,675 £3,081,696 £2,471,718 £1,861,741 3 £2,500 £12,467,173 £11,857,195 £11,247,217 £10,637,239 £10,027,261 £9,417,283 £8,807,304 £8,197,327 £7,587,348 £6,977,371 4 £2,750 £17,582,803 £16,972,825 £16,362,847 £15,752,869 £15,142,891 £14,532,913 £13,922,935 £13,312,957 £12,702,979 £12,093,001 5 £3,000 £22,698,433 £22,088,456 £21,478,478 £20,868,499 £20,258,522 £19,648,543 £19,038,566 £18,428,587 £17,818,610 £17,208,632 6 £3,250 £27,814,064 £27,204,086 £26,594,108 £25,984,129 £25,374,152 £24,764,174 £24,154,195 £23,544,217 £22,934,240 £22,324,262 7 £3,500 £32,929,694 £32,319,716 £31,709,738 £31,099,761 £30,489,782 £29,879,804 £29,269,827 £28,659,848 £28,049,870 £27,439,892 Mixed Residual Land Value (£/Ha) 500 20% AH Greenfield / PDL 32925 35 1 £2,000 £156,514 £113,815 £71,117 £28,418 Negative RLV 2 £2,250 £514,608 £471,910 £429,211 £386,513 £343,814 £301,116 £258,417 £215,719 £173,020 £130,322 3 £2,500 £872,702 £830,004 £787,305 £744,607 £701,908 £659,210 £616,511 £573,813 £531,114 £488,416 4 £2,750 £1,230,796 £1,188,098 £1,145,399 £1,102,701 £1,060,002 £1,017,304 £974,605 £931,907 £889,209 £846,510 5 £3,000 £1,588,890 £1,546,192 £1,503,493 £1,460,795 £1,418,097 £1,375,398 £1,332,700 £1,290,001 £1,247,303 £1,204,604 6 £3,250 £1,946,984 £1,904,286 £1,861,588 £1,818,889 £1,776,191 £1,733,492 £1,690,794 £1,648,095 £1,605,397 £1,562,698 7 £3,500 £2,305,079 £2,262,380 £2,219,682 £2,176,983 £2,134,285 £2,091,586 £2,048,888 £2,006,189 £1,963,491 £1,920,792 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £1,611,537 £1,040,927 £470,317 Negative RLV 2 £2,250 £6,479,126 £5,908,516 £5,337,907 £4,767,296 £4,196,686 £3,626,076 £3,055,467 £2,484,856 £1,914,247 £1,343,637 3 £2,500 £11,346,715 £10,776,104 £10,205,494 £9,634,885 £9,064,275 £8,493,665 £7,923,056 £7,352,446 £6,781,835 £6,211,226 4 £2,750 £16,214,303 £15,643,693 £15,073,083 £14,502,473 £13,931,863 £13,361,254 £12,790,644 £12,220,034 £11,649,424 £11,078,815 5 £3,000 £21,081,891 £20,511,281 £19,940,672 £19,370,062 £18,799,452 £18,228,842 £17,658,232 £17,087,622 £16,517,012 £15,946,402 6 £3,250 £25,949,480 £25,378,870 £24,808,260 £24,237,651 £23,667,041 £23,096,431 £22,525,821 £21,955,211 £21,384,602 £20,813,992 7 £3,500 £30,817,069 £30,246,459 £29,675,849 £29,105,239 £28,534,630 £27,964,020 £27,393,409 £26,822,799 £26,252,189 £25,681,580 Mixed Residual Land Value (£/Ha) 500 25% AH Greenfield / PDL 30825 35 1 £2,000 £112,808 £72,865 £32,922 Negative RLV 2 £2,250 £453,539 £413,596 £373,653 £333,711 £293,768 £253,825 £213,883 £173,940 £133,997 £94,055 3 £2,500 £794,270 £754,327 £714,385 £674,442 £634,499 £594,557 £554,614 £514,671 £474,728 £434,786 4 £2,750 £1,135,001 £1,095,059 £1,055,116 £1,015,173 £975,230 £935,288 £895,345 £855,402 £815,460 £775,517 5 £3,000 £1,475,732 £1,435,790 £1,395,847 £1,355,904 £1,315,962 £1,276,019 £1,236,076 £1,196,134 £1,156,191 £1,116,248 6 £3,250 £1,816,464 £1,776,521 £1,736,578 £1,696,636 £1,656,693 £1,616,750 £1,576,807 £1,536,865 £1,496,922 £1,456,979 7 £3,500 £2,157,195 £2,117,252 £2,077,309 £2,037,367 £1,997,424 £1,957,481 £1,917,539 £1,877,596 £1,837,653 £1,797,711 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £1,060,769 £528,159 Negative RLV 2 £2,250 £5,670,685 £5,138,075 £4,605,465 £4,072,856 £3,540,246 £3,007,636 £2,475,026 £1,942,417 £1,409,807 £877,197 3 £2,500 £10,280,600 £9,747,990 £9,215,381 £8,682,772 £8,150,162 £7,617,552 £7,084,942 £6,552,332 £6,019,723 £5,487,113 4 £2,750 £14,890,516 £14,357,907 £13,825,296 £13,292,687 £12,760,078 £12,227,468 £11,694,858 £11,162,249 £10,629,638 £10,097,028 5 £3,000 £19,500,433 £18,967,823 £18,435,213 £17,902,603 £17,369,993 £16,837,383 £16,304,774 £15,772,164 £15,239,554 £14,706,945 6 £3,250 £24,110,348 £23,577,738 £23,045,128 £22,512,518 £21,979,909 £21,447,299 £20,914,689 £20,382,080 £19,849,470 £19,316,860 7 £3,500 £28,720,263 £28,187,654 £27,655,044 £27,122,435 £26,589,825 £26,057,215 £25,524,605 £24,991,995 £24,459,385 £23,926,777 Mixed Residual Land Value (£/Ha) 500 30% AH Greenfield / PDL 28775 35 1 £2,000 £74,254 £36,971 Negative RLV 2 £2,250 £396,948 £359,665 £322,383 £285,100 £247,817 £210,535 £173,252 £135,969 £98,686 £61,404 3 £2,500 £719,642 £682,359 £645,077 £607,794 £570,511 £533,229 £495,946 £458,663 £421,381 £384,098 4 £2,750 £1,042,336 £1,005,053 £967,771 £930,488 £893,205 £855,923 £818,640 £781,357 £744,075 £706,792 5 £3,000 £1,365,030 £1,327,748 £1,290,465 £1,253,182 £1,215,900 £1,178,617 £1,141,334 £1,104,051 £1,066,769 £1,029,486 6 £3,250 £1,687,724 £1,650,442 £1,613,159 £1,575,876 £1,538,594 £1,501,311 £1,464,028 £1,426,746 £1,389,463 £1,352,180 7 £3,500 £2,010,418 £1,973,136 £1,935,853 £1,898,570 £1,861,288 £1,824,005 £1,786,722 £1,749,440 £1,712,157 £1,674,874 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £497,919 £4,678 Negative RLV 2 £2,250 £4,876,742 £4,383,500 £3,890,259 £3,397,018 £2,903,776 £2,410,534 £1,917,293 £1,424,051 £930,810 £437,568 3 £2,500 £9,255,566 £8,762,324 £8,269,083 £7,775,841 £7,282,599 £6,789,358 £6,296,116 £5,802,875 £5,309,633 £4,816,391 4 £2,750 £13,634,389 £13,141,147 £12,647,906 £12,154,664 £11,661,422 £11,168,181 £10,674,939 £10,181,697 £9,688,456 £9,195,214 5 £3,000 £18,013,211 £17,519,970 £17,026,728 £16,533,487 £16,040,245 £15,547,004 £15,053,762 £14,560,521 £14,067,278 £13,574,037 6 £3,250 £22,392,035 £21,898,793 £21,405,551 £20,912,310 £20,419,068 £19,925,826 £19,432,585 £18,939,344 £18,446,102 £17,952,860 7 £3,500 £26,770,858 £26,277,616 £25,784,374 £25,291,133 £24,797,891 £24,304,650 £23,811,408 £23,318,166 £22,824,925 £22,331,683 Mixed Residual Land Value (£/Ha) 500 35% AH Greenfield / PDL 26675 35 1 £2,000 £34,854 £327 Negative RLV 2 £2,250 £341,372 £306,845 £272,318 £237,791 £203,264 £168,737 £134,210 £99,684 £65,157 £30,630 3 £2,500 £647,890 £613,363 £578,836 £544,309 £509,782 £475,255 £440,728 £406,201 £371,674 £337,147 4 £2,750 £954,407 £919,880 £885,353 £850,826 £816,300 £781,773 £747,246 £712,719 £678,192 £643,665 5 £3,000 £1,260,925 £1,226,398 £1,191,871 £1,157,344 £1,122,817 £1,088,290 £1,053,763 £1,019,236 £984,709 £950,183 6 £3,250 £1,567,442 £1,532,916 £1,498,389 £1,463,862 £1,429,335 £1,394,808 £1,360,281 £1,325,754 £1,291,227 £1,256,700 7 £3,500 £1,873,960 £1,839,433 £1,804,906 £1,770,379 £1,735,852 £1,701,326 £1,666,799 £1,632,272 £1,597,745 £1,563,218 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 Negative RLV 2 £2,250 £4,050,117 £3,594,724 £3,139,330 £2,683,937 £2,228,544 £1,773,150 £1,317,757 £862,363 £406,970 Negative RLV 3 £2,500 £8,167,609 £7,712,215 £7,256,822 £6,801,428 £6,346,035 £5,890,641 £5,435,248 £4,979,854 £4,524,461 £4,069,068 4 £2,750 £12,285,100 £11,829,707 £11,374,313 £10,918,919 £10,463,526 £10,008,132 £9,552,739 £9,097,345 £8,641,952 £8,186,558 5 £3,000 £16,402,591 £15,947,197 £15,491,804 £15,036,411 £14,581,017 £14,125,624 £13,670,230 £13,214,837 £12,759,443 £12,304,050 6 £3,250 £20,520,082 £20,064,689 £19,609,295 £19,153,902 £18,698,508 £18,243,115 £17,787,722 £17,332,328 £16,876,935 £16,421,541 7 £3,500 £24,637,574 £24,182,180 £23,726,786 £23,271,393 £22,816,000 £22,360,606 £21,905,213 £21,449,819 £20,994,426 £20,539,033 Mixed Residual Land Value (£/Ha) 500 40% AH Greenfield / PDL 24600 35 1 £2,000 Negative RLV 2 £2,250 £283,508 £251,631 £219,753 £187,876 £155,998 £124,120 £92,243 £60,365 £28,488 Negative RLV 3 £2,500 £571,733 £539,855 £507,978 £476,100 £444,222 £412,345 £380,467 £348,590 £316,712 £284,835 4 £2,750 £859,957 £828,079 £796,202 £764,324 £732,447 £700,569 £668,692 £636,814 £604,937 £573,059 5 £3,000 £1,148,181 £1,116,304 £1,084,426 £1,052,549 £1,020,671 £988,794 £956,916 £925,039 £893,161 £861,283 6 £3,250 £1,436,406 £1,404,528 £1,372,651 £1,340,773 £1,308,896 £1,277,018 £1,245,141 £1,213,263 £1,181,385 £1,149,508 7 £3,500 £1,724,630 £1,692,753 £1,660,875 £1,628,998 £1,597,120 £1,565,242 £1,533,365 £1,501,487 £1,469,610 £1,437,732 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set Housing Development Consultants Appendix IIa D|S|P June 2014 v2.xlsx Table 1k: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 0% Affordable Housing

Residual Land Value (£)

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £14,114 £11,773 £9,431 £7,089 £4,748 £2,406 £64 Negative RLV 4 £2,750 £35,746 £33,404 £31,063 £28,721 £26,379 £24,038 £21,696 £19,354 £17,013 £14,671 5 £3,000 £57,377 £55,036 £52,694 £50,352 £48,011 £45,669 £43,327 £40,986 £38,644 £36,302 6 £3,250 £79,009 £76,667 £74,326 £71,984 £69,642 £67,301 £64,959 £62,617 £60,276 £57,934 7 £3,500 £100,641 £98,299 £95,957 £93,616 £91,274 £88,932 £86,591 £84,249 £81,907 £79,566 House Residual Land Value (£/Ha) 1 0% AH Greenfield / PDL 125 30 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £423,428 £353,178 £282,928 £212,679 £142,429 £72,179 £1,929 Negative RLV 4 £2,750 £1,072,375 £1,002,125 £931,875 £861,625 £791,376 £721,126 £650,876 £580,626 £510,376 £440,126 5 £3,000 £1,721,322 £1,651,072 £1,580,822 £1,510,572 £1,440,323 £1,370,073 £1,299,823 £1,229,573 £1,159,323 £1,089,073 6 £3,250 £2,370,269 £2,300,019 £2,229,769 £2,159,519 £2,089,269 £2,019,020 £1,948,770 £1,878,520 £1,808,270 £1,738,020 7 £3,500 £3,019,216 £2,948,966 £2,878,716 £2,808,466 £2,738,216 £2,667,967 £2,597,717 £2,527,467 £2,457,217 £2,386,967 Residual Land Value (£)

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £23,272 £19,151 £15,029 £10,908 £6,787 £2,665 Negative RLV 4 £2,750 £61,344 £57,222 £53,101 £48,980 £44,858 £40,737 £36,616 £32,494 £28,373 £24,252 5 £3,000 £99,415 £95,294 £91,172 £87,051 £82,930 £78,808 £74,687 £70,566 £66,445 £62,323 6 £3,250 £135,757 £131,684 £127,610 £123,536 £119,462 £115,389 £111,315 £107,241 £103,168 £100,395 7 £3,500 £173,378 £169,304 £165,231 £161,157 £157,083 £153,010 £148,936 £144,862 £140,788 £136,715 House Residual Land Value (£/Ha) 2 0% AH Greenfield / PDL 220 30 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £349,080 £287,260 £225,440 £163,621 £101,801 £39,981 Negative RLV 4 £2,750 £920,154 £858,334 £796,514 £734,694 £672,874 £611,054 £549,234 £487,414 £425,594 £363,775 5 £3,000 £1,491,227 £1,429,407 £1,367,587 £1,305,767 £1,243,947 £1,182,127 £1,120,308 £1,058,488 £996,668 £934,848 6 £3,250 £2,036,359 £1,975,253 £1,914,148 £1,853,042 £1,791,937 £1,730,831 £1,669,725 £1,608,620 £1,547,514 £1,505,921 7 £3,500 £2,600,671 £2,539,565 £2,478,460 £2,417,354 £2,356,249 £2,295,143 £2,234,038 £2,172,932 £2,111,826 £2,050,721 Residual Land Value (£)

1 £2,000 £82,262 £74,956 £67,650 £60,344 £53,038 £45,732 £38,426 £31,120 £23,814 £16,508 2 £2,250 £147,850 £140,628 £133,407 £126,185 £118,963 £111,742 £104,520 £98,611 £91,305 £83,999 3 £2,500 £209,137 £207,320 £200,098 £192,876 £185,655 £178,433 £171,212 £163,990 £156,769 £149,547 4 £2,750 £274,230 £267,177 £260,125 £253,072 £246,019 £238,966 £231,914 £224,861 £217,808 £210,756 5 £3,000 £339,323 £332,271 £325,218 £318,165 £311,113 £304,060 £297,007 £289,954 £282,902 £275,849 6 £3,250 £404,417 £397,364 £390,311 £383,259 £376,206 £369,153 £362,100 £355,048 £347,995 £340,942 7 £3,500 £463,612 £456,643 £449,675 £442,707 £435,739 £428,770 £421,802 £420,141 £413,088 £406,036 House Residual Land Value (£/Ha) 4 0% AH Greenfield / PDL 390 30 1 £2,000 £616,968 £562,173 £507,378 £452,583 £397,788 £342,993 £288,198 £233,403 £178,608 £123,813 2 £2,250 £1,108,872 £1,054,711 £1,000,549 £946,387 £892,225 £838,064 £783,902 £739,582 £684,787 £629,992 3 £2,500 £1,568,525 £1,554,896 £1,500,735 £1,446,573 £1,392,411 £1,338,250 £1,284,088 £1,229,926 £1,175,764 £1,121,603 4 £2,750 £2,056,725 £2,003,830 £1,950,935 £1,898,039 £1,845,144 £1,792,248 £1,739,353 £1,686,457 £1,633,562 £1,580,666 5 £3,000 £2,544,926 £2,492,030 £2,439,135 £2,386,239 £2,333,344 £2,280,448 £2,227,553 £2,174,657 £2,121,762 £2,068,867 6 £3,250 £3,033,126 £2,980,230 £2,927,335 £2,874,439 £2,821,544 £2,768,648 £2,715,753 £2,662,858 £2,609,962 £2,557,067 7 £3,500 £3,477,088 £3,424,826 £3,372,564 £3,320,301 £3,268,039 £3,215,777 £3,163,514 £3,151,058 £3,098,162 £3,045,267 Residual Land Value (£)

1 £2,000 £145,925 £131,540 £117,155 £102,771 £88,386 £75,224 £60,666 £46,107 £31,548 £16,990 2 £2,250 £270,110 £256,073 £242,036 £227,999 £213,962 £199,926 £191,251 £176,867 £162,482 £148,097 3 £2,500 £398,480 £384,443 £370,406 £356,370 £342,333 £328,296 £314,259 £300,222 £286,185 £272,148 4 £2,750 £519,861 £505,998 £492,135 £478,272 £464,409 £450,546 £436,683 £422,820 £408,957 £395,094 5 £3,000 £646,599 £632,736 £618,873 £605,010 £591,147 £577,284 £563,421 £549,558 £535,695 £521,832 6 £3,250 £773,337 £759,474 £745,610 £731,747 £717,884 £704,021 £690,158 £676,295 £662,432 £648,569 7 £3,500 £900,074 £886,211 £872,348 £858,485 £844,622 £830,759 £816,896 £803,033 £789,170 £775,307 House Residual Land Value (£/Ha) 9 0% AH Greenfield / PDL 785 30 1 £2,000 £486,416 £438,467 £390,518 £342,569 £294,620 £250,747 £202,219 £153,690 £105,161 £56,633 2 £2,250 £900,367 £853,577 £806,788 £759,998 £713,208 £666,418 £637,505 £589,556 £541,607 £493,658 3 £2,500 £1,328,268 £1,281,478 £1,234,688 £1,187,898 £1,141,109 £1,094,319 £1,047,529 £1,000,739 £953,950 £907,160 4 £2,750 £1,732,870 £1,686,660 £1,640,450 £1,594,240 £1,548,030 £1,501,819 £1,455,609 £1,409,399 £1,363,189 £1,316,979 5 £3,000 £2,155,329 £2,109,119 £2,062,909 £2,016,699 £1,970,489 £1,924,279 £1,878,069 £1,831,859 £1,785,649 £1,739,438 6 £3,250 £2,577,788 £2,531,578 £2,485,368 £2,439,158 £2,392,948 £2,346,738 £2,300,528 £2,254,318 £2,208,108 £2,161,898 7 £3,500 £3,000,248 £2,954,038 £2,907,828 £2,861,618 £2,815,407 £2,769,197 £2,722,987 £2,676,777 £2,630,567 £2,584,357 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1l: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 20% Affordable Housing

Residual Land Value (£)

1 Development Market Floor Typical Location & Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Typical Site Type Site Density (dph) Value Level Value £/m2 Scenario Area Level Indication2 - £0/m² CIL - £20/m² CIL - £40/m² CIL - £60/m² CIL - £80/m² CIL - £100/m² CIL - £120/m² CIL - £140/m² CIL - £160/m² CIL - £180/m² CIL

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £14,114 £11,773 £9,431 £7,089 £4,748 £2,406 £64 Negative RLV 4 £2,750 £35,746 £33,404 £31,063 £28,721 £26,379 £24,038 £21,696 £19,354 £17,013 £14,671 5 £3,000 £57,377 £55,036 £52,694 £50,352 £48,011 £45,669 £43,327 £40,986 £38,644 £36,302 6 £3,250 £79,009 £76,667 £74,326 £71,984 £69,642 £67,301 £64,959 £62,617 £60,276 £57,934 7 £3,500 £100,641 £98,299 £95,957 £93,616 £91,274 £88,932 £86,591 £84,249 £81,907 £79,566 House Residual Land Value (£/Ha) 1 20% AH Greenfield / PDL 125 30 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £776,285 £647,494 £518,702 £389,911 £261,119 £132,328 £3,536 Negative RLV 4 £2,750 £1,966,021 £1,837,230 £1,708,438 £1,579,647 £1,450,855 £1,322,064 £1,193,272 £1,064,481 £935,690 £806,898 5 £3,000 £3,155,757 £3,026,966 £2,898,174 £2,769,383 £2,640,591 £2,511,800 £2,383,008 £2,254,217 £2,125,426 £1,996,634 6 £3,250 £4,345,493 £4,216,702 £4,087,910 £3,959,119 £3,830,327 £3,701,536 £3,572,744 £3,443,953 £3,315,162 £3,186,370 7 £3,500 £5,535,229 £5,406,438 £5,277,646 £5,148,855 £5,020,063 £4,891,272 £4,762,481 £4,633,689 £4,504,898 £4,376,106 Residual Land Value (£)

1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £23,272 £19,151 £15,029 £10,908 £6,787 £2,665 Negative RLV 4 £2,750 £61,344 £57,222 £53,101 £48,980 £44,858 £40,737 £36,616 £32,494 £28,373 £24,252 5 £3,000 £99,415 £95,294 £91,172 £87,051 £82,930 £78,808 £74,687 £70,566 £66,445 £62,323 6 £3,250 £135,757 £131,684 £127,610 £123,536 £119,462 £115,389 £111,315 £107,241 £103,168 £100,395 7 £3,500 £173,378 £169,304 £165,231 £161,157 £157,083 £153,010 £148,936 £144,862 £140,788 £136,715 Houses Residual Land Value (£/Ha) 2 20% AH Greenfield / PDL 220 30 1 £2,000 Negative RLV 2 £2,250 Negative RLV 3 £2,500 £639,980 £526,644 £413,308 £299,971 £186,635 £73,298 Negative RLV 4 £2,750 £1,686,948 £1,573,612 £1,460,275 £1,346,939 £1,233,602 £1,120,266 £1,006,929 £893,593 £780,257 £666,920 5 £3,000 £2,733,916 £2,620,579 £2,507,243 £2,393,907 £2,280,570 £2,167,234 £2,053,897 £1,940,561 £1,827,224 £1,713,888 6 £3,250 £3,733,324 £3,621,298 £3,509,271 £3,397,244 £3,285,217 £3,173,190 £3,061,163 £2,949,136 £2,837,110 £2,760,856 7 £3,500 £4,767,897 £4,655,870 £4,543,843 £4,431,816 £4,319,789 £4,207,762 £4,095,736 £3,983,709 £3,871,682 £3,759,655 Residual Land Value (£)

1 £2,000 £52,928 £47,027 £41,126 £35,225 £29,324 £23,423 £17,522 £11,621 £5,720 Negative RLV 2 £2,250 £106,038 £100,205 £95,638 £89,737 £83,836 £77,935 £72,034 £66,133 £60,232 £54,331 3 £2,500 £159,904 £154,071 £148,238 £142,405 £136,572 £130,740 £124,907 £119,074 £113,241 £107,408 4 £2,750 £208,384 £207,937 £202,104 £196,271 £190,439 £184,606 £178,773 £172,940 £167,107 £161,275 5 £3,000 £260,960 £255,263 £249,567 £243,870 £238,174 £232,477 £226,781 £221,085 £215,388 £209,692 6 £3,250 £313,535 £307,839 £302,142 £296,446 £290,749 £285,053 £279,356 £273,660 £267,964 £262,267 7 £3,500 £366,110 £360,414 £354,718 £349,021 £343,325 £337,628 £331,932 £326,235 £320,539 £314,843 Houses Residual Land Value (£/Ha) 4 20% AH Greenfield / PDL 315 30 1 £2,000 £727,761 £646,622 £565,484 £484,345 £403,206 £322,068 £240,929 Negative RLV 2 £2,250 £1,458,016 £1,377,815 £1,315,017 £1,233,879 £1,152,740 £1,071,602 £990,463 £909,324 £828,186 £747,047 3 £2,500 £2,198,676 £2,118,475 £2,038,274 £1,958,073 £1,877,872 £1,797,671 £1,717,470 £1,637,269 £1,557,067 £1,476,866 4 £2,750 £2,865,283 £2,859,135 £2,778,934 £2,698,732 £2,618,531 £2,538,330 £2,458,129 £2,377,928 £2,297,727 £2,217,526 5 £3,000 £3,588,195 £3,509,869 £3,431,543 £3,353,217 £3,274,891 £3,196,565 £3,118,239 £3,039,913 £2,961,587 £2,883,261 6 £3,250 £4,311,106 £4,232,780 £4,154,454 £4,076,129 £3,997,803 £3,919,477 £3,841,151 £3,762,825 £3,684,499 £3,606,173 7 £3,500 £5,034,018 £4,955,692 £4,877,366 £4,799,040 £4,720,714 £4,642,388 £4,564,062 £4,485,736 £4,407,410 £4,329,085 Residual Land Value (£)

1 £2,000 £96,033 £85,183 £72,850 £60,517 £48,184 £35,851 £23,518 £11,185 Negative RLV 2 £2,250 £210,512 £198,620 £192,094 £179,908 £167,722 £155,537 £143,351 £131,165 £118,979 £106,794 3 £2,500 £327,958 £316,066 £304,175 £292,284 £280,393 £268,502 £256,611 £244,720 £232,828 £220,937 4 £2,750 £439,440 £427,696 £415,952 £404,208 £397,839 £385,948 £374,057 £362,166 £350,275 £338,383 5 £3,000 £555,393 £543,649 £531,905 £520,161 £508,417 £496,673 £484,930 £473,186 £461,442 £449,698 6 £3,250 £671,345 £659,601 £647,857 £636,114 £624,370 £612,626 £600,882 £589,138 £577,394 £565,651 7 £3,500 £787,298 £775,554 £763,810 £752,066 £740,322 £728,579 £716,835 £705,091 £693,347 £681,603 Houses Residual Land Value (£/Ha) 9 20% AH Greenfield / PDL 540 30 1 £2,000 £586,866 £520,563 £445,195 £369,826 £294,457 £219,088 Negative RLV 2 £2,250 £1,286,460 £1,213,791 £1,173,908 £1,099,439 £1,024,971 £950,502 £876,033 £801,565 £727,096 £652,628 3 £2,500 £2,004,186 £1,931,517 £1,858,849 £1,786,181 £1,713,513 £1,640,845 £1,568,177 £1,495,509 £1,422,841 £1,350,172 4 £2,750 £2,685,466 £2,613,698 £2,541,930 £2,470,162 £2,431,239 £2,358,571 £2,285,903 £2,213,235 £2,140,567 £2,067,898 5 £3,000 £3,394,065 £3,322,298 £3,250,530 £3,178,762 £3,106,994 £3,035,226 £2,963,458 £2,891,690 £2,819,922 £2,748,154 6 £3,250 £4,102,665 £4,030,897 £3,959,129 £3,887,361 £3,815,593 £3,743,825 £3,672,058 £3,600,290 £3,528,522 £3,456,754 7 £3,500 £4,811,264 £4,739,497 £4,667,729 £4,595,961 £4,524,193 £4,452,425 £4,380,657 £4,308,889 £4,237,121 £4,165,353 Residual Land Value (£)

1 £2,000 £92,586 £80,336 £66,612 £52,887 £39,163 £25,439 £11,715 Negative RLV 2 £2,250 £219,351 £206,118 £192,886 £184,915 £171,355 £157,795 £144,235 £130,675 £117,115 £103,555 3 £2,500 £349,061 £335,829 £322,597 £309,364 £296,132 £282,900 £269,668 £256,435 £243,203 £229,971 4 £2,750 £472,351 £459,282 £446,214 £433,146 £420,077 £407,009 £393,941 £386,146 £372,914 £359,682 5 £3,000 £600,412 £587,344 £574,275 £561,207 £548,139 £535,070 £522,002 £508,934 £495,865 £482,797 6 £3,250 £728,473 £715,405 £702,337 £689,268 £676,200 £663,132 £650,063 £636,995 £623,927 £610,858 7 £3,500 £856,535 £843,466 £830,398 £817,330 £804,261 £791,193 £778,125 £765,056 £751,988 £738,920 Houses Residual Land Value (£/Ha) 10 20% AH Greenfield / PDL 615 30 1 £2,000 £509,225 £441,845 £366,363 £290,881 £215,399 Negative RLV 2 £2,250 £1,206,428 £1,133,650 £1,060,873 £1,017,035 £942,455 £867,874 £793,293 £718,713 £644,132 £569,552 3 £2,500 £1,919,837 £1,847,059 £1,774,282 £1,701,505 £1,628,727 £1,555,950 £1,483,172 £1,410,395 £1,337,618 £1,264,840 4 £2,750 £2,597,928 £2,526,052 £2,454,176 £2,382,301 £2,310,425 £2,238,549 £2,166,673 £2,123,804 £2,051,027 £1,978,249 5 £3,000 £3,302,266 £3,230,390 £3,158,514 £3,086,638 £3,014,762 £2,942,886 £2,871,011 £2,799,135 £2,727,259 £2,655,383 6 £3,250 £4,006,603 £3,934,727 £3,862,851 £3,790,976 £3,719,100 £3,647,224 £3,575,348 £3,503,472 £3,431,596 £3,359,721 7 £3,500 £4,710,940 £4,639,065 £4,567,189 £4,495,313 £4,423,437 £4,351,561 £4,279,686 £4,207,810 £4,135,934 £4,064,058 Residual Land Value (£)

1 £2,000 £66,039 £48,237 £30,434 £12,631 Negative RLV 2 £2,250 £226,007 £208,864 £191,721 £174,578 £162,595 £145,012 £127,429 £109,846 £92,263 £74,680 3 £2,500 £384,258 £372,734 £355,590 £338,447 £321,304 £304,161 £287,017 £269,874 £252,731 £235,588 4 £2,750 £545,969 £529,046 £512,122 £495,199 £478,275 £461,352 £444,429 £427,505 £410,582 £393,658 5 £3,000 £707,679 £690,756 £673,833 £656,909 £639,986 £623,062 £606,139 £589,216 £572,292 £555,369 6 £3,250 £869,390 £852,467 £835,543 £818,620 £801,696 £784,773 £767,850 £750,926 £734,003 £717,079 7 £3,500 £1,031,100 £1,014,177 £997,254 £980,330 £963,407 £946,483 £929,560 £912,637 £895,713 £878,790 Mixed Residual Land Value (£/Ha) 15 20% AH Greenfield / PDL 895 55 1 £2,000 £242,144 £176,868 Negative RLV 2 £2,250 £828,694 £765,835 £702,977 £640,118 £596,180 £531,710 £467,239 £402,768 £338,298 £273,827 3 £2,500 £1,408,948 £1,366,690 £1,303,831 £1,240,973 £1,178,114 £1,115,256 £1,052,397 £989,539 £926,680 £863,822 4 £2,750 £2,001,886 £1,939,834 £1,877,781 £1,815,729 £1,753,676 £1,691,624 £1,629,572 £1,567,519 £1,505,467 £1,443,414 5 £3,000 £2,594,825 £2,532,772 £2,470,720 £2,408,667 £2,346,615 £2,284,562 £2,222,510 £2,160,458 £2,098,405 £2,036,353 6 £3,250 £3,187,763 £3,125,711 £3,063,658 £3,001,606 £2,939,553 £2,877,501 £2,815,448 £2,753,396 £2,691,343 £2,629,291 7 £3,500 £3,780,701 £3,718,649 £3,656,597 £3,594,544 £3,532,492 £3,470,439 £3,408,387 £3,346,334 £3,284,282 £3,222,229 Residual Land Value (£)

1 £2,000 £59,258 £24,980 Negative RLV 2 £2,250 £359,693 £326,791 £299,239 £265,878 £232,517 £199,155 £165,794 £132,433 £104,270 £69,991 3 £2,500 £665,752 £632,849 £599,946 £567,044 £534,141 £501,239 £468,336 £435,434 £402,531 £369,629 4 £2,750 £971,810 £938,907 £906,005 £873,102 £840,200 £807,297 £774,394 £741,492 £708,589 £675,687 5 £3,000 £1,277,868 £1,244,965 £1,212,063 £1,179,160 £1,146,258 £1,113,355 £1,080,453 £1,047,550 £1,014,647 £981,745 6 £3,250 £1,583,926 £1,551,024 £1,518,121 £1,485,218 £1,452,316 £1,419,413 £1,386,511 £1,353,608 £1,320,706 £1,287,803 7 £3,500 £1,889,984 £1,857,082 £1,824,179 £1,791,277 £1,758,374 £1,725,471 £1,692,569 £1,659,666 £1,626,764 £1,593,861 Mixed Residual Land Value (£/Ha) 30 20% AH Greenfield / PDL 1935 55 1 £2,000 Negative RLV 2 £2,250 £659,438 £599,117 £548,605 £487,443 £426,281 £365,118 £303,956 £242,794 £191,161 £128,317 3 £2,500 £1,220,545 £1,160,223 £1,099,902 £1,039,581 £979,259 £918,938 £858,616 £798,295 £737,974 £677,652 4 £2,750 £1,781,651 £1,721,330 £1,661,009 £1,600,687 £1,540,366 £1,480,044 £1,419,723 £1,359,402 £1,299,080 £1,238,759 5 £3,000 £2,342,758 £2,282,436 £2,222,115 £2,161,794 £2,101,472 £2,041,151 £1,980,830 £1,920,508 £1,860,187 £1,799,866 6 £3,250 £2,903,864 £2,843,543 £2,783,222 £2,722,900 £2,662,579 £2,602,258 £2,541,936 £2,481,615 £2,421,294 £2,360,972 7 £3,500 £3,464,971 £3,404,650 £3,344,328 £3,284,007 £3,223,686 £3,163,364 £3,103,043 £3,042,722 £2,982,400 £2,922,079 1 - Based on information provided by the Council 0 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV Test Lower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1m: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 25% Affordable Housing

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £52,928 £47,027 £41,126 £35,225 £29,324 £23,423 £17,522 £11,621 £5,720 Negative RLV 2 £2,250 £106,038 £100,205 £95,638 £89,737 £83,836 £77,935 £72,034 £66,133 £60,232 £54,331 3 £2,500 £159,904 £154,071 £148,238 £142,405 £136,572 £130,740 £124,907 £119,074 £113,241 £107,408 4 £2,750 £208,384 £207,937 £202,104 £196,271 £190,439 £184,606 £178,773 £172,940 £167,107 £161,275 5 £3,000 £260,960 £255,263 £249,567 £243,870 £238,174 £232,477 £226,781 £221,085 £215,388 £209,692 6 £3,250 £313,535 £307,839 £302,142 £296,446 £290,749 £285,053 £279,356 £273,660 £267,964 £262,267 7 £3,500 £366,110 £360,414 £354,718 £349,021 £343,325 £337,628 £331,932 £326,235 £320,539 £314,843 Houses Residual Land Value (£/Ha) 4 25% AH Greenfield / PDL 315 30 1 £2,000 £727,761 £646,622 £565,484 £484,345 £403,206 £322,068 £240,929 £159,791 £78,652 Negative RLV 2 £2,250 £1,458,016 £1,377,815 £1,315,017 £1,233,879 £1,152,740 £1,071,602 £990,463 £909,324 £828,186 £747,047 3 £2,500 £2,198,676 £2,118,475 £2,038,274 £1,958,073 £1,877,872 £1,797,671 £1,717,470 £1,637,269 £1,557,067 £1,476,866 4 £2,750 £2,865,283 £2,859,135 £2,778,934 £2,698,732 £2,618,531 £2,538,330 £2,458,129 £2,377,928 £2,297,727 £2,217,526 5 £3,000 £3,588,195 £3,509,869 £3,431,543 £3,353,217 £3,274,891 £3,196,565 £3,118,239 £3,039,913 £2,961,587 £2,883,261 6 £3,250 £4,311,106 £4,232,780 £4,154,454 £4,076,129 £3,997,803 £3,919,477 £3,841,151 £3,762,825 £3,684,499 £3,606,173 7 £3,500 £5,034,018 £4,955,692 £4,877,366 £4,799,040 £4,720,714 £4,642,388 £4,564,062 £4,485,736 £4,407,410 £4,329,085 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £55,605 £45,590 £35,575 £25,560 £15,545 £5,530 Negative RLV 2 £2,250 £154,123 £144,228 £134,333 £124,438 £114,542 £104,647 £94,752 £86,206 £76,191 £66,177 3 £2,500 £246,754 £237,098 £227,442 £217,786 £208,130 £198,475 £194,224 £184,329 £174,433 £164,538 4 £2,750 £343,759 £334,103 £324,447 £314,791 £305,135 £295,479 £285,824 £276,168 £266,512 £256,856 5 £3,000 £434,877 £425,341 £415,804 £406,268 £396,732 £392,484 £382,828 £373,172 £363,517 £353,861 6 £3,250 £530,648 £521,112 £511,576 £502,039 £492,503 £482,967 £473,430 £463,894 £454,358 £444,821 7 £3,500 £626,420 £616,884 £607,347 £597,811 £588,274 £578,738 £569,202 £559,665 £550,129 £540,593 Houses Residual Land Value (£/Ha) 9 25% AH Greenfield / PDL 540 30 1 £2,000 £339,806 £278,604 £217,402 £156,201 £94,999 £33,797 Negative RLV 2 £2,250 £941,864 £881,393 £820,922 £760,452 £699,981 £639,510 £579,039 £526,816 £465,614 £404,412 3 £2,500 £1,507,943 £1,448,935 £1,389,926 £1,330,917 £1,271,908 £1,212,900 £1,186,924 £1,126,453 £1,065,982 £1,005,511 4 £2,750 £2,100,751 £2,041,743 £1,982,734 £1,923,725 £1,864,717 £1,805,708 £1,746,699 £1,687,690 £1,628,682 £1,569,673 5 £3,000 £2,657,581 £2,599,303 £2,541,026 £2,482,748 £2,424,470 £2,398,516 £2,339,507 £2,280,499 £2,221,490 £2,162,481 6 £3,250 £3,242,851 £3,184,574 £3,126,296 £3,068,018 £3,009,740 £2,951,463 £2,893,185 £2,834,907 £2,776,630 £2,718,352 7 £3,500 £3,828,121 £3,769,844 £3,711,566 £3,653,288 £3,595,011 £3,536,733 £3,478,455 £3,420,178 £3,361,900 £3,303,622 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £44,425 £14,657 Negative RLV 2 £2,250 £324,748 £300,320 £270,149 £239,977 £209,805 £179,634 £149,462 £119,290 £93,969 £62,968 3 £2,500 £610,016 £580,259 £550,502 £520,746 £490,989 £461,232 £431,475 £401,718 £371,961 £342,205 4 £2,750 £895,284 £865,527 £835,770 £806,013 £776,256 £746,500 £716,743 £686,986 £657,229 £627,472 5 £3,000 £1,180,551 £1,150,795 £1,121,038 £1,091,281 £1,061,524 £1,031,767 £1,002,010 £972,254 £942,497 £912,740 6 £3,250 £1,465,819 £1,436,062 £1,406,305 £1,376,549 £1,346,792 £1,317,035 £1,287,278 £1,257,521 £1,227,764 £1,198,007 7 £3,500 £1,751,087 £1,721,330 £1,691,573 £1,661,816 £1,632,059 £1,602,302 £1,572,546 £1,542,789 £1,513,032 £1,483,275 Mixed Residual Land Value (£/Ha) 30 25% AH Greenfield / PDL 1750 55 1 £2,000 £81,446 £26,872 Negative RLV 2 £2,250 £595,372 £550,587 £495,272 £439,958 £384,643 £329,328 £274,014 £218,699 £172,276 £115,441 3 £2,500 £1,118,363 £1,063,809 £1,009,254 £954,700 £900,146 £845,592 £791,038 £736,483 £681,929 £627,375 4 £2,750 £1,641,354 £1,586,799 £1,532,245 £1,477,691 £1,423,137 £1,368,583 £1,314,028 £1,259,474 £1,204,920 £1,150,366 5 £3,000 £2,164,344 £2,109,790 £2,055,236 £2,000,682 £1,946,127 £1,891,573 £1,837,019 £1,782,465 £1,727,911 £1,673,356 6 £3,250 £2,687,335 £2,632,781 £2,578,226 £2,523,672 £2,469,118 £2,414,564 £2,360,010 £2,305,455 £2,250,901 £2,196,347 7 £3,500 £3,210,326 £3,155,771 £3,101,217 £3,046,663 £2,992,109 £2,937,555 £2,883,000 £2,828,446 £2,773,892 £2,719,338 1 - Based on information provided by the Council 0 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1n: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 30% Affordable Housing

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £52,928 £47,027 £41,126 £35,225 £29,324 £23,423 £17,522 £11,621 £5,720 Negative RLV 2 £2,250 £106,038 £100,205 £95,638 £89,737 £83,836 £77,935 £72,034 £66,133 £60,232 £54,331 3 £2,500 £159,904 £154,071 £148,238 £142,405 £136,572 £130,740 £124,907 £119,074 £113,241 £107,408 4 £2,750 £208,384 £207,937 £202,104 £196,271 £190,439 £184,606 £178,773 £172,940 £167,107 £161,275 5 £3,000 £260,960 £255,263 £249,567 £243,870 £238,174 £232,477 £226,781 £221,085 £215,388 £209,692 6 £3,250 £313,535 £307,839 £302,142 £296,446 £290,749 £285,053 £279,356 £273,660 £267,964 £262,267 7 £3,500 £366,110 £360,414 £354,718 £349,021 £343,325 £337,628 £331,932 £326,235 £320,539 £314,843 Houses Residual Land Value (£/Ha) 4 30% AH Greenfield / PDL 315 30 1 £2,000 £727,761 £646,622 £565,484 £484,345 £403,206 £322,068 £240,929 £159,791 £78,652 Negative RLV 2 £2,250 £1,458,016 £1,377,815 £1,315,017 £1,233,879 £1,152,740 £1,071,602 £990,463 £909,324 £828,186 £747,047 3 £2,500 £2,198,676 £2,118,475 £2,038,274 £1,958,073 £1,877,872 £1,797,671 £1,717,470 £1,637,269 £1,557,067 £1,476,866 4 £2,750 £2,865,283 £2,859,135 £2,778,934 £2,698,732 £2,618,531 £2,538,330 £2,458,129 £2,377,928 £2,297,727 £2,217,526 5 £3,000 £3,588,195 £3,509,869 £3,431,543 £3,353,217 £3,274,891 £3,196,565 £3,118,239 £3,039,913 £2,961,587 £2,883,261 6 £3,250 £4,311,106 £4,232,780 £4,154,454 £4,076,129 £3,997,803 £3,919,477 £3,841,151 £3,762,825 £3,684,499 £3,606,173 7 £3,500 £5,034,018 £4,955,692 £4,877,366 £4,799,040 £4,720,714 £4,642,388 £4,564,062 £4,485,736 £4,407,410 £4,329,085 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £55,605 £45,590 £35,575 £25,560 £15,545 £5,530 Negative RLV 2 £2,250 £154,123 £144,228 £134,333 £124,438 £114,542 £104,647 £94,752 £86,206 £76,191 £66,177 3 £2,500 £246,754 £237,098 £227,442 £217,786 £208,130 £198,475 £194,224 £184,329 £174,433 £164,538 4 £2,750 £343,759 £334,103 £324,447 £314,791 £305,135 £295,479 £285,824 £276,168 £266,512 £256,856 5 £3,000 £434,877 £425,341 £415,804 £406,268 £396,732 £392,484 £382,828 £373,172 £363,517 £353,861 6 £3,250 £530,648 £521,112 £511,576 £502,039 £492,503 £482,967 £473,430 £463,894 £454,358 £444,821 7 £3,500 £626,420 £616,884 £607,347 £597,811 £588,274 £578,738 £569,202 £559,665 £550,129 £540,593 Houses Residual Land Value (£/Ha) 9 30% AH Greenfield / PDL 540 30 1 £2,000 £339,806 £278,604 £217,402 £156,201 £94,999 £33,797 Negative RLV 2 £2,250 £941,864 £881,393 £820,922 £760,452 £699,981 £639,510 £579,039 £526,816 £465,614 £404,412 3 £2,500 £1,507,943 £1,448,935 £1,389,926 £1,330,917 £1,271,908 £1,212,900 £1,186,924 £1,126,453 £1,065,982 £1,005,511 4 £2,750 £2,100,751 £2,041,743 £1,982,734 £1,923,725 £1,864,717 £1,805,708 £1,746,699 £1,687,690 £1,628,682 £1,569,673 5 £3,000 £2,657,581 £2,599,303 £2,541,026 £2,482,748 £2,424,470 £2,398,516 £2,339,507 £2,280,499 £2,221,490 £2,162,481 6 £3,250 £3,242,851 £3,184,574 £3,126,296 £3,068,018 £3,009,740 £2,951,463 £2,893,185 £2,834,907 £2,776,630 £2,718,352 7 £3,500 £3,828,121 £3,769,844 £3,711,566 £3,653,288 £3,595,011 £3,536,733 £3,478,455 £3,420,178 £3,361,900 £3,303,622 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £68,839 £57,434 £46,028 £34,622 £23,216 £11,810 £405 Negative RLV 2 £2,250 £179,745 £168,476 £157,206 £145,937 £134,667 £123,398 £112,128 £100,859 £89,589 £79,625 3 £2,500 £283,951 £272,954 £261,957 £250,960 £239,963 £228,966 £217,969 £206,972 £195,975 £190,368 4 £2,750 £393,221 £382,224 £371,227 £360,230 £349,233 £338,235 £327,238 £316,241 £305,244 £294,247 5 £3,000 £495,790 £484,929 £474,069 £463,208 £452,347 £441,486 £430,625 £419,764 £408,903 £398,043 6 £3,250 £603,670 £592,810 £581,949 £571,088 £560,227 £549,366 £538,505 £527,644 £516,784 £505,923 7 £3,500 £711,551 £700,690 £689,829 £678,968 £668,107 £657,246 £646,386 £635,525 £624,664 £613,803 Houses Residual Land Value (£/Ha) 10 30% AH Greenfield / PDL 615 30 1 £2,000 £378,617 £315,885 £253,153 £190,421 £127,689 £64,958 £2,226 Negative RLV 2 £2,250 £988,600 £926,618 £864,635 £802,653 £740,670 £678,687 £616,705 £554,722 £492,740 £437,939 3 £2,500 £1,561,732 £1,501,248 £1,440,764 £1,380,280 £1,319,796 £1,259,312 £1,198,828 £1,138,344 £1,077,860 £1,047,024 4 £2,750 £2,162,715 £2,102,231 £2,041,747 £1,981,263 £1,920,779 £1,860,295 £1,799,811 £1,739,327 £1,678,843 £1,618,359 5 £3,000 £2,726,846 £2,667,112 £2,607,377 £2,547,642 £2,487,908 £2,428,173 £2,368,438 £2,308,704 £2,248,969 £2,189,235 6 £3,250 £3,320,187 £3,260,453 £3,200,718 £3,140,983 £3,081,249 £3,021,514 £2,961,779 £2,902,045 £2,842,310 £2,782,575 7 £3,500 £3,913,528 £3,853,793 £3,794,059 £3,734,324 £3,674,590 £3,614,855 £3,555,120 £3,495,386 £3,435,651 £3,375,916 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £18,191 Negative RLV 2 £2,250 £300,402 £271,524 £242,645 £213,767 £184,888 £156,010 £127,131 £103,329 £73,656 £43,984 3 £2,500 £577,057 £548,575 £520,094 £491,612 £463,131 £434,649 £406,167 £377,686 £349,204 £320,723 4 £2,750 £859,028 £830,547 £802,065 £773,584 £745,102 £716,621 £688,139 £659,658 £631,176 £602,695 5 £3,000 £1,141,000 £1,112,519 £1,084,037 £1,055,556 £1,027,074 £998,592 £970,111 £941,629 £913,148 £884,666 6 £3,250 £1,422,972 £1,394,490 £1,366,009 £1,337,527 £1,309,046 £1,280,564 £1,252,083 £1,223,601 £1,195,119 £1,166,638 7 £3,500 £1,704,944 £1,676,462 £1,647,980 £1,619,499 £1,591,017 £1,562,536 £1,534,054 £1,505,573 £1,477,091 £1,448,610 Mixed Residual Land Value (£/Ha) 30 30% AH Greenfield / PDL 1675 55 1 £2,000 £33,350 Negative RLV 2 £2,250 £550,738 £497,794 £444,850 £391,906 £338,962 £286,018 £233,073 £189,436 £135,037 £80,637 3 £2,500 £1,057,937 £1,005,721 £953,505 £901,289 £849,073 £796,857 £744,640 £692,424 £640,208 £587,992 4 £2,750 £1,574,885 £1,522,669 £1,470,453 £1,418,237 £1,366,021 £1,313,805 £1,261,588 £1,209,372 £1,157,156 £1,104,940 5 £3,000 £2,091,834 £2,039,617 £1,987,401 £1,935,185 £1,882,969 £1,830,753 £1,778,537 £1,726,320 £1,674,104 £1,621,888 6 £3,250 £2,608,782 £2,556,566 £2,504,349 £2,452,133 £2,399,917 £2,347,701 £2,295,485 £2,243,269 £2,191,052 £2,138,836 7 £3,500 £3,125,730 £3,073,514 £3,021,297 £2,969,081 £2,916,865 £2,864,649 £2,812,433 £2,760,217 £2,708,000 £2,655,784 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1o: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 35% Affordable Housing

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £52,928 £47,027 £41,126 £35,225 £29,324 £23,423 £17,522 £11,621 £5,720 Negative RLV 2 £2,250 £106,038 £100,205 £95,638 £89,737 £83,836 £77,935 £72,034 £66,133 £60,232 £54,331 3 £2,500 £159,904 £154,071 £148,238 £142,405 £136,572 £130,740 £124,907 £119,074 £113,241 £107,408 4 £2,750 £208,384 £207,937 £202,104 £196,271 £190,439 £184,606 £178,773 £172,940 £167,107 £161,275 5 £3,000 £260,960 £255,263 £249,567 £243,870 £238,174 £232,477 £226,781 £221,085 £215,388 £209,692 6 £3,250 £313,535 £307,839 £302,142 £296,446 £290,749 £285,053 £279,356 £273,660 £267,964 £262,267 7 £3,500 £366,110 £360,414 £354,718 £349,021 £343,325 £337,628 £331,932 £326,235 £320,539 £314,843 House Residual Land Value (£/Ha) 4 35% AH Greenfield / PDL 315 30 1 £2,000 £727,761 £646,622 £565,484 £484,345 £403,206 £322,068 £240,929 Negative RLV 2 £2,250 £1,458,016 £1,377,815 £1,315,017 £1,233,879 £1,152,740 £1,071,602 £990,463 £909,324 £828,186 £747,047 3 £2,500 £2,198,676 £2,118,475 £2,038,274 £1,958,073 £1,877,872 £1,797,671 £1,717,470 £1,637,269 £1,557,067 £1,476,866 4 £2,750 £2,865,283 £2,859,135 £2,778,934 £2,698,732 £2,618,531 £2,538,330 £2,458,129 £2,377,928 £2,297,727 £2,217,526 5 £3,000 £3,588,195 £3,509,869 £3,431,543 £3,353,217 £3,274,891 £3,196,565 £3,118,239 £3,039,913 £2,961,587 £2,883,261 6 £3,250 £4,311,106 £4,232,780 £4,154,454 £4,076,129 £3,997,803 £3,919,477 £3,841,151 £3,762,825 £3,684,499 £3,606,173 7 £3,500 £5,034,018 £4,955,692 £4,877,366 £4,799,040 £4,720,714 £4,642,388 £4,564,062 £4,485,736 £4,407,410 £4,329,085 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £55,605 £45,590 £35,575 £25,560 £15,545 £5,530 Negative RLV 2 £2,250 £154,123 £144,228 £134,333 £124,438 £114,542 £104,647 £94,752 £86,206 £76,191 £66,177 3 £2,500 £246,754 £237,098 £227,442 £217,786 £208,130 £198,475 £194,224 £184,329 £174,433 £164,538 4 £2,750 £343,759 £334,103 £324,447 £314,791 £305,135 £295,479 £285,824 £276,168 £266,512 £256,856 5 £3,000 £434,877 £425,341 £415,804 £406,268 £396,732 £392,484 £382,828 £373,172 £363,517 £353,861 6 £3,250 £530,648 £521,112 £511,576 £502,039 £492,503 £482,967 £473,430 £463,894 £454,358 £444,821 7 £3,500 £626,420 £616,884 £607,347 £597,811 £588,274 £578,738 £569,202 £559,665 £550,129 £540,593 House Residual Land Value (£/Ha) 9 35% AH Greenfield / PDL 540 30 1 £2,000 £339,806 £278,604 £217,402 £156,201 £94,999 £33,797 Negative RLV 2 £2,250 £941,864 £881,393 £820,922 £760,452 £699,981 £639,510 £579,039 £526,816 £465,614 £404,412 3 £2,500 £1,507,943 £1,448,935 £1,389,926 £1,330,917 £1,271,908 £1,212,900 £1,186,924 £1,126,453 £1,065,982 £1,005,511 4 £2,750 £2,100,751 £2,041,743 £1,982,734 £1,923,725 £1,864,717 £1,805,708 £1,746,699 £1,687,690 £1,628,682 £1,569,673 5 £3,000 £2,657,581 £2,599,303 £2,541,026 £2,482,748 £2,424,470 £2,398,516 £2,339,507 £2,280,499 £2,221,490 £2,162,481 6 £3,250 £3,242,851 £3,184,574 £3,126,296 £3,068,018 £3,009,740 £2,951,463 £2,893,185 £2,834,907 £2,776,630 £2,718,352 7 £3,500 £3,828,121 £3,769,844 £3,711,566 £3,653,288 £3,595,011 £3,536,733 £3,478,455 £3,420,178 £3,361,900 £3,303,622 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Level Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 Negative RLV 2 £2,250 £262,907 £235,322 £207,736 £180,151 £152,565 £124,980 £102,416 £74,072 £45,728 £18,758 3 £2,500 £528,750 £501,543 £474,337 £447,131 £419,924 £392,718 £365,512 £338,306 £316,737 £289,152 4 £2,750 £799,378 £772,172 £744,966 £717,760 £690,553 £663,347 £636,141 £608,935 £581,728 £554,522 5 £3,000 £1,070,007 £1,042,801 £1,015,595 £988,388 £961,182 £933,976 £906,770 £879,563 £852,357 £825,151 6 £3,250 £1,340,636 £1,313,430 £1,286,223 £1,259,017 £1,231,811 £1,204,605 £1,177,398 £1,150,192 £1,122,986 £1,095,780 7 £3,500 £1,611,265 £1,584,058 £1,556,852 £1,529,646 £1,502,440 £1,475,233 £1,448,027 £1,420,821 £1,393,615 £1,366,408 Mixed Residual Land Value (£/Ha) 30 35% AH Greenfield / PDL 1600 55 1 £2,000 Negative RLV 2 £2,250 £481,996 £431,423 £380,850 £330,276 £279,703 £229,130 £187,763 £135,799 £83,836 £34,390 3 £2,500 £969,374 £919,496 £869,618 £819,740 £769,862 £719,983 £670,105 £620,227 £580,685 £530,111 4 £2,750 £1,465,527 £1,415,649 £1,365,771 £1,315,893 £1,266,014 £1,216,136 £1,166,258 £1,116,380 £1,066,502 £1,016,624 5 £3,000 £1,961,680 £1,911,802 £1,861,923 £1,812,045 £1,762,167 £1,712,289 £1,662,411 £1,612,533 £1,562,655 £1,512,777 6 £3,250 £2,457,833 £2,407,954 £2,358,076 £2,308,198 £2,258,320 £2,208,442 £2,158,564 £2,108,686 £2,058,807 £2,008,929 7 £3,500 £2,953,985 £2,904,107 £2,854,229 £2,804,351 £2,754,473 £2,704,595 £2,654,717 £2,604,838 £2,554,960 £2,505,082 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1r: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Zero Carbon - 40% Affordable Housing

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £52,928 £47,027 £41,126 £35,225 £29,324 £23,423 £17,522 £11,621 £5,720 Negative RLV 2 £2,250 £106,038 £100,205 £95,638 £89,737 £83,836 £77,935 £72,034 £66,133 £60,232 £54,331 3 £2,500 £159,904 £154,071 £148,238 £142,405 £136,572 £130,740 £124,907 £119,074 £113,241 £107,408 4 £2,750 £208,384 £207,937 £202,104 £196,271 £190,439 £184,606 £178,773 £172,940 £167,107 £161,275 5 £3,000 £260,960 £255,263 £249,567 £243,870 £238,174 £232,477 £226,781 £221,085 £215,388 £209,692 6 £3,250 £313,535 £307,839 £302,142 £296,446 £290,749 £285,053 £279,356 £273,660 £267,964 £262,267 7 £3,500 £366,110 £360,414 £354,718 £349,021 £343,325 £337,628 £331,932 £326,235 £320,539 £314,843 House Residual Land Value (£/Ha) 4 40% AH Greenfield / PDL 315 30 1 £2,000 £727,761 £646,622 £565,484 £484,345 £403,206 £322,068 £240,929 £159,791 £78,652 Negative RLV 2 £2,250 £1,458,016 £1,377,815 £1,315,017 £1,233,879 £1,152,740 £1,071,602 £990,463 £909,324 £828,186 £747,047 3 £2,500 £2,198,676 £2,118,475 £2,038,274 £1,958,073 £1,877,872 £1,797,671 £1,717,470 £1,637,269 £1,557,067 £1,476,866 4 £2,750 £2,865,283 £2,859,135 £2,778,934 £2,698,732 £2,618,531 £2,538,330 £2,458,129 £2,377,928 £2,297,727 £2,217,526 5 £3,000 £3,588,195 £3,509,869 £3,431,543 £3,353,217 £3,274,891 £3,196,565 £3,118,239 £3,039,913 £2,961,587 £2,883,261 6 £3,250 £4,311,106 £4,232,780 £4,154,454 £4,076,129 £3,997,803 £3,919,477 £3,841,151 £3,762,825 £3,684,499 £3,606,173 7 £3,500 £5,034,018 £4,955,692 £4,877,366 £4,799,040 £4,720,714 £4,642,388 £4,564,062 £4,485,736 £4,407,410 £4,329,085 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £55,605 £45,590 £35,575 £25,560 £15,545 £5,530 Negative RLV 2 £2,250 £154,123 £144,228 £134,333 £124,438 £114,542 £104,647 £94,752 £86,206 £76,191 £66,177 3 £2,500 £246,754 £237,098 £227,442 £217,786 £208,130 £198,475 £194,224 £184,329 £174,433 £164,538 4 £2,750 £343,759 £334,103 £324,447 £314,791 £305,135 £295,479 £285,824 £276,168 £266,512 £256,856 5 £3,000 £434,877 £425,341 £415,804 £406,268 £396,732 £392,484 £382,828 £373,172 £363,517 £353,861 6 £3,250 £530,648 £521,112 £511,576 £502,039 £492,503 £482,967 £473,430 £463,894 £454,358 £444,821 7 £3,500 £626,420 £616,884 £607,347 £597,811 £588,274 £578,738 £569,202 £559,665 £550,129 £540,593 House Residual Land Value (£/Ha) 9 40% AH Greenfield / PDL 540 30 1 £2,000 £339,806 £278,604 £217,402 £156,201 £94,999 £33,797 Negative RLV 2 £2,250 £941,864 £881,393 £820,922 £760,452 £699,981 £639,510 £579,039 £526,816 £465,614 £404,412 3 £2,500 £1,507,943 £1,448,935 £1,389,926 £1,330,917 £1,271,908 £1,212,900 £1,186,924 £1,126,453 £1,065,982 £1,005,511 4 £2,750 £2,100,751 £2,041,743 £1,982,734 £1,923,725 £1,864,717 £1,805,708 £1,746,699 £1,687,690 £1,628,682 £1,569,673 5 £3,000 £2,657,581 £2,599,303 £2,541,026 £2,482,748 £2,424,470 £2,398,516 £2,339,507 £2,280,499 £2,221,490 £2,162,481 6 £3,250 £3,242,851 £3,184,574 £3,126,296 £3,068,018 £3,009,740 £2,951,463 £2,893,185 £2,834,907 £2,776,630 £2,718,352 7 £3,500 £3,828,121 £3,769,844 £3,711,566 £3,653,288 £3,595,011 £3,536,733 £3,478,455 £3,420,178 £3,361,900 £3,303,622 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 Negative RLV 2 £2,250 £207,563 £182,132 £156,702 £131,272 £111,052 £84,922 £58,793 £32,663 £7,741 Negative RLV 3 £2,500 £459,789 £434,709 £409,628 £384,547 £359,466 £334,386 £314,889 £289,459 £264,028 £238,598 4 £2,750 £716,020 £690,939 £665,858 £640,777 £615,697 £590,616 £565,535 £540,454 £515,374 £490,293 5 £3,000 £972,250 £947,169 £922,088 £897,008 £871,927 £846,846 £821,765 £796,685 £771,604 £746,523 6 £3,250 £1,228,480 £1,203,399 £1,178,319 £1,153,238 £1,128,157 £1,103,076 £1,077,996 £1,052,915 £1,027,834 £1,002,753 7 £3,500 £1,484,711 £1,459,630 £1,434,549 £1,409,468 £1,384,387 £1,359,307 £1,334,226 £1,309,145 £1,284,064 £1,258,984 Mixed Residual Land Value (£/Ha) 30 40% AH Greenfield / PDL 1475 55 1 £2,000 Negative RLV 2 £2,250 £380,532 £333,910 £287,287 £240,665 £203,595 £155,691 £107,787 £59,883 £14,191 Negative RLV 3 £2,500 £842,947 £796,966 £750,984 £705,003 £659,022 £613,040 £577,297 £530,674 £484,052 £437,430 4 £2,750 £1,312,703 £1,266,721 £1,220,740 £1,174,759 £1,128,777 £1,082,796 £1,036,814 £990,833 £944,852 £898,870 5 £3,000 £1,782,458 £1,736,477 £1,690,495 £1,644,514 £1,598,533 £1,552,551 £1,506,570 £1,460,588 £1,414,607 £1,368,626 6 £3,250 £2,252,214 £2,206,232 £2,160,251 £2,114,270 £2,068,288 £2,022,307 £1,976,325 £1,930,344 £1,884,363 £1,838,381 7 £3,500 £2,721,969 £2,675,988 £2,630,006 £2,584,025 £2,538,044 £2,492,062 £2,446,081 £2,400,099 £2,354,118 £2,308,137 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV Test Lower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx

D|S|P Housing Development Consultants Appendix IIa Table 1s: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Less Renewable Energy and Lifetime Homes

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £183,187 £149,826 £121,890 £87,611 £53,333 £20,391 Negative RLV 2 £2,250 £485,616 £452,713 £419,811 £386,908 £354,006 £321,103 £293,472 £260,111 £226,750 £193,388 3 £2,500 £791,674 £758,772 £725,869 £692,966 £660,064 £627,161 £594,259 £561,356 £528,454 £495,551 4 £2,750 £1,097,732 £1,064,830 £1,031,927 £999,025 £966,122 £933,219 £900,317 £867,414 £834,512 £801,609 5 £3,000 £1,403,790 £1,370,888 £1,337,985 £1,305,083 £1,272,180 £1,239,278 £1,206,375 £1,173,472 £1,140,570 £1,107,667 6 £3,250 £1,709,849 £1,676,946 £1,644,043 £1,611,141 £1,578,238 £1,545,336 £1,512,433 £1,479,531 £1,446,628 £1,413,725 7 £3,500 £2,015,907 £1,983,004 £1,950,102 £1,917,199 £1,884,296 £1,851,394 £1,818,491 £1,785,589 £1,752,686 £1,719,784 Mixed Residual Land Value (£/Ha) 30 20% AH Greenfield / PDL 1935 30 1 £2,000 £183,187 £149,826 £121,890 £87,611 Negative RLV 2 £2,250 £485,616 £452,713 £419,811 £386,908 £354,006 £321,103 £293,472 £260,111 £226,750 £193,388 3 £2,500 £791,674 £758,772 £725,869 £692,966 £660,064 £627,161 £594,259 £561,356 £528,454 £495,551 4 £2,750 £1,097,732 £1,064,830 £1,031,927 £999,025 £966,122 £933,219 £900,317 £867,414 £834,512 £801,609 5 £3,000 £1,403,790 £1,370,888 £1,337,985 £1,305,083 £1,272,180 £1,239,278 £1,206,375 £1,173,472 £1,140,570 £1,107,667 6 £3,250 £1,709,849 £1,676,946 £1,644,043 £1,611,141 £1,578,238 £1,545,336 £1,512,433 £1,479,531 £1,446,628 £1,413,725 7 £3,500 £2,015,907 £1,983,004 £1,950,102 £1,917,199 £1,884,296 £1,851,394 £1,818,491 £1,785,589 £1,752,686 £1,719,784 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £31,344 £6,301 Negative RLV 2 £2,250 £288,380 £262,949 £237,519 £212,089 £186,658 £161,228 £135,797 £115,702 £89,573 £63,443 3 £2,500 £539,495 £514,414 £489,334 £464,253 £439,172 £414,091 £389,011 £363,930 £338,849 £319,415 4 £2,750 £795,726 £770,645 £745,564 £720,483 £695,402 £670,322 £645,241 £620,160 £595,079 £569,999 5 £3,000 £1,051,956 £1,026,875 £1,001,794 £976,713 £951,633 £926,552 £901,471 £876,390 £851,310 £826,229 6 £3,250 £1,308,186 £1,283,105 £1,258,025 £1,232,944 £1,207,863 £1,182,782 £1,157,701 £1,132,621 £1,107,540 £1,082,459 7 £3,500 £1,564,416 £1,539,336 £1,514,255 £1,489,174 £1,464,093 £1,439,013 £1,413,932 £1,388,851 £1,363,770 £1,338,689 Mixed Residual Land Value (£/Ha) 30 40% AH Greenfield / PDL 1475 30 1 £2,000 £31,344 £6,301 Negative RLV 2 £2,250 £288,380 £262,949 £237,519 £212,089 £186,658 £161,228 £135,797 £115,702 £89,573 £63,443 3 £2,500 £539,495 £514,414 £489,334 £464,253 £439,172 £414,091 £389,011 £363,930 £338,849 £319,415 4 £2,750 £795,726 £770,645 £745,564 £720,483 £695,402 £670,322 £645,241 £620,160 £595,079 £569,999 5 £3,000 £1,051,956 £1,026,875 £1,001,794 £976,713 £951,633 £926,552 £901,471 £876,390 £851,310 £826,229 6 £3,250 £1,308,186 £1,283,105 £1,258,025 £1,232,944 £1,207,863 £1,182,782 £1,157,701 £1,132,621 £1,107,540 £1,082,459 7 £3,500 £1,564,416 £1,539,336 £1,514,255 £1,489,174 £1,464,093 £1,439,013 £1,413,932 £1,388,851 £1,363,770 £1,338,689 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1t: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Just without renewables

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £172,972 £139,611 £111,393 £77,115 £42,837 £9,754 Negative RLV 2 £2,250 £475,541 £442,639 £409,736 £376,833 £343,931 £316,618 £283,257 £249,895 £216,534 £183,173 3 £2,500 £781,599 £748,697 £715,794 £682,892 £649,989 £617,086 £584,184 £551,281 £518,379 £485,476 4 £2,750 £1,087,657 £1,054,755 £1,021,852 £988,950 £956,047 £923,145 £890,242 £857,339 £824,437 £791,534 5 £3,000 £1,393,716 £1,360,813 £1,327,910 £1,295,008 £1,262,105 £1,229,203 £1,196,300 £1,163,398 £1,130,495 £1,097,592 6 £3,250 £1,699,774 £1,666,871 £1,633,969 £1,601,066 £1,568,163 £1,535,261 £1,502,358 £1,469,456 £1,436,553 £1,403,651 7 £3,500 £2,005,832 £1,972,929 £1,940,027 £1,907,124 £1,874,222 £1,841,319 £1,808,416 £1,775,514 £1,742,611 £1,709,709 Mixed Residual Land Value (£/Ha) 30 20% AH Greenfield / PDL 1935 30 1 £2,000 £172,972 £139,611 £111,393 £77,115 £42,837 £9,754 Negative RLV 2 £2,250 £475,541 £442,639 £409,736 £376,833 £343,931 £316,618 £283,257 £249,895 £216,534 £183,173 3 £2,500 £781,599 £748,697 £715,794 £682,892 £649,989 £617,086 £584,184 £551,281 £518,379 £485,476 4 £2,750 £1,087,657 £1,054,755 £1,021,852 £988,950 £956,047 £923,145 £890,242 £857,339 £824,437 £791,534 5 £3,000 £1,393,716 £1,360,813 £1,327,910 £1,295,008 £1,262,105 £1,229,203 £1,196,300 £1,163,398 £1,130,495 £1,097,592 6 £3,250 £1,699,774 £1,666,871 £1,633,969 £1,601,066 £1,568,163 £1,535,261 £1,502,358 £1,469,456 £1,436,553 £1,403,651 7 £3,500 £2,005,832 £1,972,929 £1,940,027 £1,907,124 £1,874,222 £1,841,319 £1,808,416 £1,775,514 £1,742,611 £1,709,709 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £116,862 £85,861 £54,859 £25,231 Negative RLV 2 £2,250 £394,277 £364,521 £334,764 £310,475 £280,303 £250,132 £219,960 £189,789 £159,617 £129,445 3 £2,500 £679,545 £649,788 £620,031 £590,275 £560,518 £530,761 £501,004 £471,247 £441,490 £411,734 4 £2,750 £964,813 £935,056 £905,299 £875,542 £845,785 £816,029 £786,272 £756,515 £726,758 £697,001 5 £3,000 £1,250,080 £1,220,324 £1,190,567 £1,160,810 £1,131,053 £1,101,296 £1,071,539 £1,041,783 £1,012,026 £982,269 6 £3,250 £1,535,348 £1,505,591 £1,475,834 £1,446,077 £1,416,321 £1,386,564 £1,356,807 £1,327,050 £1,297,293 £1,267,536 7 £3,500 £1,820,616 £1,790,859 £1,761,102 £1,731,345 £1,701,588 £1,671,831 £1,642,075 £1,612,318 £1,582,561 £1,552,804 Mixed Residual Land Value (£/Ha) 30 25% AH Greenfield / PDL 1750 30 1 £2,000 £116,862 £85,861 £54,859 £25,231 Negative RLV 2 £2,250 £394,277 £364,521 £334,764 £310,475 £280,303 £250,132 £219,960 £189,789 £159,617 £129,445 3 £2,500 £679,545 £649,788 £620,031 £590,275 £560,518 £530,761 £501,004 £471,247 £441,490 £411,734 4 £2,750 £964,813 £935,056 £905,299 £875,542 £845,785 £816,029 £786,272 £756,515 £726,758 £697,001 5 £3,000 £1,250,080 £1,220,324 £1,190,567 £1,160,810 £1,131,053 £1,101,296 £1,071,539 £1,041,783 £1,012,026 £982,269 6 £3,250 £1,535,348 £1,505,591 £1,475,834 £1,446,077 £1,416,321 £1,386,564 £1,356,807 £1,327,050 £1,297,293 £1,267,536 7 £3,500 £1,820,616 £1,790,859 £1,761,102 £1,731,345 £1,701,588 £1,671,831 £1,642,075 £1,612,318 £1,582,561 £1,552,804 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £22,144 Negative RLV 2 £2,250 £278,164 £252,734 £227,304 £201,873 £176,443 £151,013 £125,582 £105,206 £79,077 £52,947 3 £2,500 £529,420 £504,340 £479,259 £454,178 £429,097 £404,017 £378,936 £353,855 £328,774 £309,200 4 £2,750 £785,651 £760,570 £735,489 £710,408 £685,328 £660,247 £635,166 £610,085 £585,005 £559,924 5 £3,000 £1,041,881 £1,016,800 £991,719 £966,639 £941,558 £916,477 £891,396 £866,316 £841,235 £816,154 6 £3,250 £1,298,111 £1,273,030 £1,247,950 £1,222,869 £1,197,788 £1,172,707 £1,147,627 £1,122,546 £1,097,465 £1,072,384 7 £3,500 £1,554,342 £1,529,261 £1,504,180 £1,479,099 £1,454,018 £1,428,938 £1,403,857 £1,378,776 £1,353,695 £1,328,615 Mixed Residual Land Value (£/Ha) 30 40% AH Greenfield / PDL 1475 30 1 £2,000 £22,144 Negative RLV 2 £2,250 £278,164 £252,734 £227,304 £201,873 £176,443 £151,013 £125,582 £105,206 £79,077 £52,947 3 £2,500 £529,420 £504,340 £479,259 £454,178 £429,097 £404,017 £378,936 £353,855 £328,774 £309,200 4 £2,750 £785,651 £760,570 £735,489 £710,408 £685,328 £660,247 £635,166 £610,085 £585,005 £559,924 5 £3,000 £1,041,881 £1,016,800 £991,719 £966,639 £941,558 £916,477 £891,396 £866,316 £841,235 £816,154 6 £3,250 £1,298,111 £1,273,030 £1,247,950 £1,222,869 £1,197,788 £1,172,707 £1,147,627 £1,122,546 £1,097,465 £1,072,384 7 £3,500 £1,554,342 £1,529,261 £1,504,180 £1,479,099 £1,454,018 £1,428,938 £1,403,857 £1,378,776 £1,353,695 £1,328,615 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa Table 1u: Residual Land Value Results by Value Level & CIL Rate Sensitivity Testing - Just without Lifetime Homes

Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 £136,637 £108,338 £74,059 £39,781 £6,657 Negative RLV 2 £2,250 £439,705 £406,803 £373,900 £340,998 £313,644 £280,283 £246,921 £213,560 £180,199 £146,838 3 £2,500 £745,764 £712,861 £679,958 £647,056 £614,153 £581,251 £548,348 £515,446 £482,543 £449,640 4 £2,750 £1,051,822 £1,018,919 £986,017 £953,114 £920,211 £887,309 £854,406 £821,504 £788,601 £755,699 5 £3,000 £1,357,880 £1,324,977 £1,292,075 £1,259,172 £1,226,270 £1,193,367 £1,160,464 £1,127,562 £1,094,659 £1,061,757 6 £3,250 £1,663,938 £1,631,035 £1,598,133 £1,565,230 £1,532,328 £1,499,425 £1,466,523 £1,433,620 £1,400,717 £1,367,815 7 £3,500 £1,969,996 £1,937,094 £1,904,191 £1,871,288 £1,838,386 £1,805,483 £1,772,581 £1,739,678 £1,706,776 £1,673,873 Mixed Residual Land Value (£/Ha) 30 20% AH Greenfield / PDL 1935 30 1 £2,000 £136,637 £108,338 £74,059 £39,781 £6,657 Negative RLV 2 £2,250 £439,705 £406,803 £373,900 £340,998 £313,644 £280,283 £246,921 £213,560 £180,199 £146,838 3 £2,500 £745,764 £712,861 £679,958 £647,056 £614,153 £581,251 £548,348 £515,446 £482,543 £449,640 4 £2,750 £1,051,822 £1,018,919 £986,017 £953,114 £920,211 £887,309 £854,406 £821,504 £788,601 £755,699 5 £3,000 £1,357,880 £1,324,977 £1,292,075 £1,259,172 £1,226,270 £1,193,367 £1,160,464 £1,127,562 £1,094,659 £1,061,757 6 £3,250 £1,663,938 £1,631,035 £1,598,133 £1,565,230 £1,532,328 £1,499,425 £1,466,523 £1,433,620 £1,400,717 £1,367,815 7 £3,500 £1,969,996 £1,937,094 £1,904,191 £1,871,288 £1,838,386 £1,805,483 £1,772,581 £1,739,678 £1,706,776 £1,673,873 Residual Land Value (£)

1 Residual Land Residual Land Residual Land Residual Land Residual Land Development Market Floor Typical Location & Value Level Residual Land Residual Land Residual Land Residual Land Residual Land Typical Site Type Site Density (dph) Value Level Value £/m2 Value - £100/m² Value - £120/m² Value - £140/m² Value - £160/m² Value - £180/m² Scenario Area Indication2 Value - £0/m² CIL Value - £20/m² CIL Value - £40/m² CIL Value - £60/m² CIL Value - £80/m² CIL CIL CIL CIL CIL CIL 1 £2,000 Negative RLV 2 £2,250 £241,829 £216,399 £190,968 £165,538 £140,108 £120,131 £94,001 £67,872 £41,742 £16,941 3 £2,500 £493,585 £468,504 £443,423 £418,342 £393,262 £368,181 £343,100 £318,019 £298,295 £272,864 4 £2,750 £749,815 £724,734 £699,653 £674,573 £649,492 £624,411 £599,330 £574,250 £549,169 £524,088 5 £3,000 £1,006,045 £980,964 £955,884 £930,803 £905,722 £880,641 £855,561 £830,480 £805,399 £780,318 6 £3,250 £1,262,276 £1,237,195 £1,212,114 £1,187,033 £1,161,952 £1,136,872 £1,111,791 £1,086,710 £1,061,629 £1,036,549 7 £3,500 £1,518,506 £1,493,425 £1,468,344 £1,443,263 £1,418,183 £1,393,102 £1,368,021 £1,342,940 £1,317,860 £1,292,779 Mixed Residual Land Value (£/Ha) 30 40% AH Greenfield / PDL 1475 30 1 £2,000 Negative RLV 2 £2,250 £241,829 £216,399 £190,968 £165,538 £140,108 £120,131 £94,001 £67,872 £41,742 £16,941 3 £2,500 £493,585 £468,504 £443,423 £418,342 £393,262 £368,181 £343,100 £318,019 £298,295 £272,864 4 £2,750 £749,815 £724,734 £699,653 £674,573 £649,492 £624,411 £599,330 £574,250 £549,169 £524,088 5 £3,000 £1,006,045 £980,964 £955,884 £930,803 £905,722 £880,641 £855,561 £830,480 £805,399 £780,318 6 £3,250 £1,262,276 £1,237,195 £1,212,114 £1,187,033 £1,161,952 £1,136,872 £1,111,791 £1,086,710 £1,061,629 £1,036,549 7 £3,500 £1,518,506 £1,493,425 £1,468,344 £1,443,263 £1,418,183 £1,393,102 £1,368,021 £1,342,940 £1,317,860 £1,292,779 1 - Based on information provided by the Council 2 - Typical value level by location noting that in practice values can vary significantly down even to street level. NB Settlements mentioned in more than one Value Level due to values range typically covering more than one Value Level Key: RLV Lower than ViabilityRLV TestLower 1. than viability test 1 Positive RLV beneath Viability Test 1 (RLV <£250,000/ha) RLV exceeding Viability Test 1 (RLV £250,000 - £500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (2014) Appendix IIa - MDDCC Residential Results New Set June 2014 v2.xlsx D|S|P Housing Development Consultants Appendix IIa D|S|P Housing & Development Consultants

Appendix IIa Residential Appraisal Summaries D|S|P Housing and Development Consultants Net RLV: £36,278 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 1 Unit - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 125 Total Private Affordable % AH TOTAL NUMBER OF UNITS 1 1 0 0% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 100% 0% 0% 0% 0% SITE SIZE (HA) 0.04 VALUE / AREA 4 REVENUE

Affordable Housing Revenue £0 Open Market Housing Revenue £343,750

Total Value of Scheme £343,750

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £175,125 Fees, Contingencies, Planning Costs etc £31,104 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £2,327

Total Build Costs £208,556

Section 106 / CIL Costs £6,000 Marketing Costs & Legal Fees £11,063

Total s106 & Marketing Costs £17,063

Finance on Build Costs £3,666

TOTAL DEVELOPMENT COSTS £229,285

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £68,750 Affordable Housing Profit £0

Total Operating Profit £68,750

GROSS RESIDUAL LAND VALUE £45,715 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £5,043 Agents Fees £686 Legal Fees £343 Stamp Duty £0 Interest on Land Purchase £3,366

Total Finance & Acquisition Costs £9,438

NET RESIDUAL LAND VALUE £36,278 (ignores finance & acquisition RLV (£ per Ha) £979,502 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £61,846 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 2 Units - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 220 Total Private Affordable % AH TOTAL NUMBER OF UNITS 2 2 0 0% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 100% 0% 0% 0% 0% SITE SIZE (HA) 0.07 VALUE / AREA 4 REVENUE

Affordable Housing Revenue £0 Open Market Housing Revenue £605,000

Total Value of Scheme £605,000

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £308,220 Fees, Contingencies, Planning Costs etc £55,903 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £4,654

Total Build Costs £368,777

Section 106 / CIL Costs £10,800 Marketing Costs & Legal Fees £19,650

Total s106 & Marketing Costs £30,450

Finance on Build Costs £6,487

TOTAL DEVELOPMENT COSTS £405,714

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £121,000 Affordable Housing Profit £0

Total Operating Profit £121,000

GROSS RESIDUAL LAND VALUE £78,286 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £8,897 Agents Fees £1,174 Legal Fees £587 Stamp Duty £0 Interest on Land Purchase £5,781

Total Finance & Acquisition Costs £16,440

NET RESIDUAL LAND VALUE £61,846 (ignores finance & acquisition RLV (£ per Ha) £834,916 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £147,799 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 4 Units - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 390 Total Private Affordable % AH TOTAL NUMBER OF UNITS 4 3 1 25% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 75% 0% 25% 0% 0% SITE SIZE (HA) 0.15 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £91,043 Open Market Housing Revenue £787,500

Total Value of Scheme £878,543

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £394,290 Fees, Contingencies, Planning Costs etc £78,484 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £9,308

Total Build Costs £482,082

Section 106 / CIL Costs £16,600 Marketing Costs & Legal Fees £29,356

Total s106 & Marketing Costs £45,956

Finance on Build Costs £8,581

TOTAL DEVELOPMENT COSTS £536,618

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £157,500 Affordable Housing Profit £5,463

Total Operating Profit £162,963

GROSS RESIDUAL LAND VALUE £178,962 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £12,522 Agents Fees £2,684 Legal Fees £1,342 Stamp Duty £1,790 Interest on Land Purchase £12,825

Total Finance & Acquisition Costs £31,163

NET RESIDUAL LAND VALUE £147,799 (ignores finance & acquisition RLV (£ per Ha) £997,645 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £302,182 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 9 Units - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 815 Total Private Affordable % AH TOTAL NUMBER OF UNITS 9 7 2 22% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 78% 0% 11% 11% 0% SITE SIZE (HA) 0.33 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £203,543 Open Market Housing Revenue £1,662,500

Total Value of Scheme £1,866,043

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £823,965 Fees, Contingencies, Planning Costs etc £167,110 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £20,943

Total Build Costs £1,012,018

Section 106 / CIL Costs £35,600 Marketing Costs & Legal Fees £62,731

Total s106 & Marketing Costs £98,331

Finance on Build Costs £27,065

TOTAL DEVELOPMENT COSTS £1,137,414

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £332,500 Affordable Housing Profit £12,213

Total Operating Profit £344,713

GROSS RESIDUAL LAND VALUE £383,917 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £26,587 Agents Fees £5,759 Legal Fees £2,879 Stamp Duty £11,517 Interest on Land Purchase £34,991

Total Finance & Acquisition Costs £81,734

NET RESIDUAL LAND VALUE £302,182 (ignores finance & acquisition RLV (£ per Ha) £906,547 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £242,559 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 10 Units - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 840 Total Private Affordable % AH TOTAL NUMBER OF UNITS 10 7 3 30% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 70% 0% 20% 10% 0% SITE SIZE (HA) 0.37 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £294,586 Open Market Housing Revenue £1,537,500

Total Value of Scheme £1,832,086

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £849,240 Fees, Contingencies, Planning Costs etc £175,736 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £41,270

Total Build Costs £1,066,246

Section 106 / CIL Costs £34,600 Marketing Costs & Legal Fees £62,463

Total s106 & Marketing Costs £97,063

Finance on Build Costs £28,356

TOTAL DEVELOPMENT COSTS £1,191,664

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £307,500 Affordable Housing Profit £17,675

Total Operating Profit £325,175

GROSS RESIDUAL LAND VALUE £315,247 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £26,986 Agents Fees £4,729 Legal Fees £2,364 Stamp Duty £9,457 Interest on Land Purchase £29,151

Total Finance & Acquisition Costs £72,687

NET RESIDUAL LAND VALUE £242,559 (ignores finance & acquisition RLV (£ per Ha) £654,910 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £307,258 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 15 Units - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 1,162 Total Private Affordable % AH TOTAL NUMBER OF UNITS 15 11 4 27% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 73% 0% 20% 7% 0% SITE SIZE (HA) 0.56 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £365,964 Open Market Housing Revenue £2,237,500

Total Value of Scheme £2,603,464

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £1,210,032 Fees, Contingencies, Planning Costs etc £254,030 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £61,905

Total Build Costs £1,525,967

Section 106 / CIL Costs £50,800 Marketing Costs & Legal Fees £89,354

Total s106 & Marketing Costs £140,154

Finance on Build Costs £54,149

TOTAL DEVELOPMENT COSTS £1,720,270

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £447,500 Affordable Housing Profit £21,958

Total Operating Profit £469,458

GROSS RESIDUAL LAND VALUE £413,737 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £38,543 Agents Fees £6,206 Legal Fees £3,103 Stamp Duty £12,412 Interest on Land Purchase £46,215

Total Finance & Acquisition Costs £106,479

NET RESIDUAL LAND VALUE £307,258 (ignores finance & acquisition RLV (£ per Ha) £553,064 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £512,843 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 30 Units Mixed - £40 CIL DEVELOPMENT SIZE (TOTAL m²) - GIA 2,329 Total Private Affordable % AH TOTAL NUMBER OF UNITS 30 22 8 27% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 73% 0% 17% 10% 0% SITE SIZE (HA) 1.11 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £786,188 Open Market Housing Revenue £4,375,000

Total Value of Scheme £5,161,188

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £2,425,119 Fees, Contingencies, Planning Costs etc £499,818 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £123,810

Total Build Costs £3,048,747

Section 106 / CIL Costs £100,000 Marketing Costs & Legal Fees £177,336

Total s106 & Marketing Costs £277,336

Finance on Build Costs £162,147

TOTAL DEVELOPMENT COSTS £3,488,229

DEVELOPER'S RETURN FOR RISK AND PROFIT

Open Market Housing Profit £875,000 Affordable Housing Profit £47,171

Total Operating Profit £922,171

GROSS RESIDUAL LAND VALUE £750,788 D|S|P Housing and Development Consultants

FINANCE & ACQUISITION COSTS

Arrangement Fee / Misc Fees (Surveyors etc) £77,272 Agents Fees £11,262 Legal Fees £5,631 Stamp Duty £30,032 Interest on Land Purchase £113,748

Total Finance & Acquisition Costs £237,945

NET RESIDUAL LAND VALUE £512,843 (ignores finance & acquisition RLV (£ per Ha) £461,559 costs if GRLV Negative) D|S|P Housing and Development Consultants Net RLV: £1,292,126 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 30 Flats - CIL £40 DEVELOPMENT SIZE (TOTAL m²) - GIA 2,012 Total Private Affordable % AH TOTAL NUMBER OF UNITS 30 22 8 27% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 73% 0% 14% 13% 0% SITE SIZE (HA) 0.27 VALUE / AREA 9 REVENUE

Affordable Housing Revenue £710,177 Open Market Housing Revenue £5,235,000

Total Value of Scheme £5,945,177

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £2,315,812 Fees, Contingencies, Planning Costs etc £358,951 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £237,960

Total Build Costs £2,912,723

Section 106 / CIL Costs £155,850 Marketing Costs & Legal Fees £169,125

Total s106 & Marketing Costs £324,975

TOTAL DEVELOPMENT COSTS £3,237,698

DEVELOPER'S RETURN FOR RISK AND PROFIT £1,049,627

Total Operating Profit £1,049,627

FINANCE & ACQUISITION COSTS

Agents Fees £35,382 Legal Fees £9,691 Stamp Duty £51,685 Interest £268,968

Total Finance & Acquisition Costs £365,726

NET RESIDUAL LAND VALUE £1,292,126 (ignores finance & acquisition RLV (£ per Ha) £4,785,653 costs if GRLV Negative)

NRLV as % of GDV 21.7% D|S|P Housing and Development Consultants Net RLV: £2,325,577 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 100 Units - CIL £40 DEVELOPMENT SIZE (TOTAL m²) - GIA 8,157 Total Private Affordable % AH TOTAL NUMBER OF UNITS 100 75 25 25% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 75% 0% 13% 12% 0% SITE SIZE (HA) 3.00 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £2,436,651 Open Market Housing Revenue £15,412,500

Total Value of Scheme £17,849,151

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £8,458,473 Fees, Contingencies, Planning Costs etc £1,311,063 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £593,200

Total Build Costs £10,362,737

Section 106 / CIL Costs £569,767 Marketing Costs & Legal Fees £518,625

Total s106 & Marketing Costs £1,088,392

TOTAL DEVELOPMENT COSTS £11,451,128

DEVELOPER'S RETURN FOR RISK AND PROFIT £3,209,659

Total Operating Profit £3,209,659

FINANCE & ACQUISITION COSTS

Agents Fees £69,884 Legal Fees £17,442 Stamp Duty £93,023 Interest £682,438

Total Finance & Acquisition Costs £862,787

NET RESIDUAL LAND VALUE £2,325,577 (ignores finance & acquisition RLV (£ per Ha) £775,192 costs if GRLV Negative)

NRLV as % of GDV 13.0% D|S|P Housing and Development Consultants Net RLV: £9,225,448 Residual Land Value Data Summary & Results DEVELOPMENT TYPE Residential DEVELOPMENT DESCRIPTION 500 Units - CIL £40 DEVELOPMENT SIZE (TOTAL m²) - GIA 40,783 Total Private Affordable % AH TOTAL NUMBER OF UNITS 100 75 25 25% % Private % SR %AR % Int 1 % Int 2 PERCENTAGE BY TENURE 75% 0% 13% 12% 0% SITE SIZE (HA) 18.75 VALUE / AREA 3 REVENUE

Affordable Housing Revenue £12,183,255 Open Market Housing Revenue £77,062,500

Total Value of Scheme £89,245,755

RESIDENTIAL BUILDING, MARKETING & S106 COSTS

Build Costs £42,292,367 Fees, Contingencies, Planning Costs etc £6,555,317 Sustainable Design & Construction Costs / Lifetime Homes / EPCs Voids / EPCs / Renwables etc £3,591,000

Total Build Costs £52,438,684

Section 106 / CIL Costs £2,848,833 Marketing Costs & Legal Fees £2,593,125

Total s106 & Marketing Costs £5,441,958

TOTAL DEVELOPMENT COSTS £57,880,642

DEVELOPER'S RETURN FOR RISK AND PROFIT £16,048,296

Total Operating Profit £16,048,296

FINANCE & ACQUISITION COSTS

Agents Fees £438,382 Legal Fees £69,191 Stamp Duty £369,018 Interest £5,214,779

Total Finance & Acquisition Costs £6,091,369

NET RESIDUAL LAND VALUE £9,225,448 (ignores finance & acquisition RLV (£ per Ha) £492,024 costs if GRLV Negative)

NRLV as % of GDV 10.3% Dixon Searle Partnership

Development Appraisal

1,500 Unit Residential Greenfield Scheme (TIV1)

20% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1)

Summary Appraisal for Merged Phases 4 5

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales 1BF - Private 90 3,645.00 2,375.00 96,188 8,656,875 2BF - AR 30 1,809.00 1,510.66 91,093 2,732,790 2BF - Private 170 9,180.00 2,375.00 128,250 21,802,500 2BF - SO 40 2,412.00 1,350.00 81,405 3,256,200 2BH - AR 30 2,250.00 1,213.91 91,043 2,731,290 2BH - Private 450 33,750.00 2,375.00 178,125 80,156,250 2BH - SO 60 4,500.00 1,350.00 101,250 6,075,000 3BH - AR 30 2,550.00 1,268.18 107,795 3,233,850 3BH - Private 360 34,200.00 2,375.00 225,625 81,225,000 4BH - AR 30 3,300.00 1,244.81 136,929 4,107,870 4BH - Private 130 16,250.00 2,375.00 296,875 38,593,750 1BF - SO 20 1,000.00 1,350.00 67,500 1,350,000 1BF - AR 60 2,700.00 1,586.18 71,378 4,282,680 Totals 1,500 117,546.00 258,204,055

Investment Valuation Ground Rent Manual Value 650,000 Employment Land Manual Value 4,200,000 4,850,000

GROSS DEVELOPMENT VALUE 263,054,055

NET REALISATION 263,054,055

OUTLAY

ACQUISITION COSTS Residualised Price 24,279,372 Residualised Price (Negative land) (143,166) Stamp Duty 971,175 Agent Fee 1.50% 364,191 Legal Fee 0.75% 182,095 25,653,666 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 4,050.00 m² 1,033.00 pm² 4,183,650 2BF - AR 2,010.00 m² 1,033.00 pm² 2,076,330 2BF - Private 10,200.00 m² 1,033.00 pm² 10,536,600 2BF - SO 2,680.00 m² 1,033.00 pm² 2,768,440 2BH - AR 2,250.00 m² 886.00 pm² 1,993,500 This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1) 2BH - Private 33,750.00 m² 886.00 pm² 29,902,500 2BH - SO 4,500.00 m² 886.00 pm² 3,987,000 3BH - AR 2,550.00 m² 886.00 pm² 2,259,300 3BH - Private 34,200.00 m² 886.00 pm² 30,301,200 4BH - AR 3,300.00 m² 886.00 pm² 2,923,800 4BH - Private 16,250.00 m² 886.00 pm² 14,397,500 1BF - SO 1,000.00 m² 1,033.00 pm² 1,033,000 1BF - AR 3,000.00 m² 1,033.00 pm² 3,099,000 Totals 154,740.00 m² 109,461,820 109,461,820

Contingency 3.00% 3,283,855 3,283,855 Other Construction Externals 10.00% 10,946,182 CfSH 1,500.00 un 1,932.00 /un 2,898,000 Lifetime Homes 1,500.00 un 395.00 /un 592,500 Renewables 1,500.00 un 1,800.00 /un 2,700,000 17,136,682 INFRASTRUCTURE COSTS Infrastructure Costs 26,494,100 Infrastructure Costs 4,205,900 30,700,000

PROFESSIONAL FEES Architect 5.00% 6,020,400 Quantity Surveyor 1.00% 1,204,080 Structural Engineer 2.00% 2,408,160 Project Manager 1.00% 1,204,080 C.D. Manager 1.00% 1,204,080 12,040,800 DISPOSAL FEES Sales Agent Fee 3.00% 7,233,467 Sales Legal Fee 1,500.00 un 750.00 /un 1,125,000 8,358,467

MISCELLANEOUS FEES Arrangement Fees 1.00% 1,684,173 1,684,173 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 6,800,175

TOTAL COSTS 215,119,638

PROFIT 47,934,417

Performance Measures Profit on Cost% 22.28% This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1) Profit on GDV% 18.22%

IRR 17.10%

Land Cost pHect 472,333

This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

1,500 Unit Residential Greenfield Scheme (TIV1)

Table of Land Cost and Land Cost Sales: Rate pm² -125.00 pm² 0.00 pm² +125.00 pm² 2,250.00 pm² 2,375.00 pm² 2,500.00 pm² (£15,421,223) (£24,136,205) (£32,088,116) (£15,421,223) (£24,136,205) (£32,088,116)

Sensitivity Analysis : Assumptions for Calculation

Sales: Rate pm²

Heading Phase Rate No. of Steps 1BF - Private 4 £2,375.00 1 Up & Down 2BF - Private 4 £2,375.00 1 Up & Down 2BH - Private 4 £2,375.00 1 Up & Down 3BH - Private 4 £2,375.00 1 Up & Down 4BH - Private 4 £2,375.00 1 Up & Down 2BF - SO 4 £1,350.00 1 Up & Down 2BH - SO 4 £1,350.00 1 Up & Down 1BF - SO 4 £1,350.00 1 Up & Down

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 Dixon Searle Partnership

Development Appraisal

1,500 Unit Residential Greenfield Scheme (TIV1)

25% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1)

Summary Appraisal for Merged Phases 4 5

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales Adjustment Net Sales 1BF - Private 75 3,037.50 2,375.00 96,188 7,214,063 0 7,214,063 2BF - AR 30 1,809.00 1,510.66 91,093 2,732,790 0 2,732,790 2BF - Private 150 8,100.00 2,375.00 128,250 19,237,500 0 19,237,500 2BF - SO 60 3,618.00 1,350.00 81,405 4,884,300 0 4,884,300 2BH - AR 30 2,250.00 1,213.91 91,043 2,731,290 0 2,731,290 2BH - Private 450 33,750.00 2,375.00 178,125 80,156,250 0 80,156,250 2BH - SO 60 4,500.00 1,350.00 101,250 6,075,000 0 6,075,000 3BH - AR 60 5,100.00 1,268.18 107,795 6,467,700 0 6,467,700 3BH - Private 330 31,350.00 2,375.00 225,625 74,456,250 0 74,456,250 4BH - AR 45 4,950.00 1,244.81 136,929 6,161,810 0 6,161,809 4BH - Private 120 15,000.00 2,375.00 296,875 35,625,000 0 35,625,000 1BF - SO 30 1,500.00 1,350.00 67,500 2,025,000 0 2,025,000 1BF - AR 60 2,700.00 1,586.18 71,378 4,282,680 0 4,282,680 Totals 1,500 117,664.50 252,049,632 0 252,049,632

Investment Valuation Ground Rent Manual Value 562,500 Employment Land Manual Value 4,200,000 4,762,500

GROSS DEVELOPMENT VALUE 256,812,132

NET REALISATION 256,812,132

OUTLAY

ACQUISITION COSTS Residualised Price 21,760,365 Residualised Price (Negative land) (143,166) Stamp Duty 870,415 Agent Fee 1.50% 326,405 Legal Fee 0.75% 163,203 22,977,221 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 3,375.00 m² 1,033.00 pm² 3,486,375 2BF - AR 2,010.00 m² 1,033.00 pm² 2,076,330 2BF - Private 9,000.00 m² 1,033.00 pm² 9,297,000 2BF - SO 4,020.00 m² 1,033.00 pm² 4,152,660 2BH - AR 2,250.00 m² 886.00 pm² 1,993,500 This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1) 2BH - Private 33,750.00 m² 886.00 pm² 29,902,500 2BH - SO 4,500.00 m² 886.00 pm² 3,987,000 3BH - AR 5,100.00 m² 886.00 pm² 4,518,600 3BH - Private 31,350.00 m² 886.00 pm² 27,776,100 4BH - AR 4,950.00 m² 886.00 pm² 4,385,700 4BH - Private 15,000.00 m² 886.00 pm² 13,290,000 1BF - SO 1,500.00 m² 1,033.00 pm² 1,549,500 1BF - AR 3,000.00 m² 1,033.00 pm² 3,099,000 Totals 119,805.00 m² 109,514,265 109,514,265

Contingency 3.00% 3,285,428 3,285,428 Other Construction Externals 10.00% 10,951,426 CfSH 1,500.00 un 1,932.00 /un 2,898,000 Lifetime Homes 1,500.00 un 395.00 /un 592,500 Renewables 1,500.00 un 1,800.00 /un 2,700,000 17,141,926 INFRASTRUCTURE COSTS Infrastructure Costs 26,494,100 Infrastructure Costs 4,205,900 30,700,000

PROFESSIONAL FEES Architect 5.00% 6,023,285 Quantity Surveyor 1.00% 1,204,657 Structural Engineer 2.00% 2,409,314 Project Manager 1.00% 1,204,657 C.D. Manager 1.00% 1,204,657 12,046,569 DISPOSAL FEES Sales Agent Fee 3.00% 6,890,201 Sales Legal Fee 1,500.00 un 750.00 /un 1,125,000 8,015,201

MISCELLANEOUS FEES Arrangement Fees 1.00% 1,684,823 1,684,823 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 5,805,542

TOTAL COSTS 211,170,976

PROFIT 45,641,156

Performance Measures Profit on Cost% 21.61% This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,500 Unit Residential Greenfield Scheme (TIV1) Profit on GDV% 17.77%

IRR 17.62%

Land Cost pHect 423,867

This appraisal report does not constitute a formal valuation.

File: TIV1\1500 Unit - TIV1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

1,500 Unit Residential Greenfield Scheme (TIV1)

Table of Land Cost and Land Cost Sales: Rate pm² -125.00 pm² 0.00 pm² +125.00 pm² 2,250.00 pm² 2,375.00 pm² 2,500.00 pm² (£13,085,176) (£21,617,198) (£29,324,986) (£13,085,176) (£21,617,198) (£29,324,986)

Sensitivity Analysis : Assumptions for Calculation

Sales: Rate pm²

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 Dixon Searle Partnership

Development Appraisal

1,000 Unit Residential Greenfield Scheme (CU1)

20% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1)

Summary Appraisal for Merged Phases 2 3

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales Adjustment Net Sales 1BF - Private 60 2,430.00 2,375.00 96,188 5,771,250 0 5,771,250 2BF - AR 20 1,206.00 1,510.66 91,093 1,821,860 0 1,821,860 2BF - Private 110 5,940.00 2,375.00 128,250 14,107,500 0 14,107,500 2BF - SO 30 1,809.00 1,350.00 81,405 2,442,150 0 2,442,150 2BH - AR 20 1,500.00 1,213.91 91,043 1,820,860 0 1,820,860 2BH - Private 300 22,500.00 2,375.00 178,125 53,437,500 0 53,437,500 2BH - SO 40 3,000.00 1,350.00 101,250 4,050,000 0 4,050,000 3BH - AR 20 1,700.00 1,268.18 107,795 2,155,900 0 2,155,900 3BH - Private 240 22,800.00 2,375.00 225,625 54,150,000 0 54,150,000 4BH - AR 20 2,200.00 1,244.81 136,929 2,738,582 0 2,738,582 4BH - Private 90 11,250.00 2,375.00 296,875 26,718,750 0 26,718,750 1BF - SO 10 500.00 1,350.00 67,500 675,000 0 675,000 1BF - AR 40 1,800.00 1,586.18 71,378 2,855,120 0 2,855,120 Totals 1,000 78,635.00 172,744,472 0 172,744,472

Investment Valuation Ground Rent Manual Value 425,000 Employment Land Manual Value 1,200,000 1,625,000

GROSS DEVELOPMENT VALUE 174,369,472

NET REALISATION 174,369,472

OUTLAY

ACQUISITION COSTS Residualised Price (30.50 Ha 498,136.29 pHect) 15,193,157 Stamp Duty 590,223 Agent Fee 1.50% 221,334 Legal Fee 0.75% 110,667 16,115,380 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 2,700.00 m² 1,033.00 pm² 2,789,100 2BF - AR 1,340.00 m² 1,033.00 pm² 1,384,220 2BF - Private 6,600.00 m² 1,033.00 pm² 6,817,800 2BF - SO 2,010.00 m² 1,033.00 pm² 2,076,330 2BH - AR 1,500.00 m² 886.00 pm² 1,329,000 2BH - Private 22,500.00 m² 886.00 pm² 19,935,000 2BH - SO 3,000.00 m² 886.00 pm² 2,658,000 This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1) 3BH - AR 1,700.00 m² 886.00 pm² 1,506,200 3BH - Private 22,800.00 m² 886.00 pm² 20,200,800 4BH - AR 2,200.00 m² 886.00 pm² 1,949,200 4BH - Private 11,250.00 m² 886.00 pm² 9,967,500 1BF - SO 500.00 m² 1,033.00 pm² 516,500 1BF - AR 2,000.00 m² 1,033.00 pm² 2,066,000 Totals 80,100.00 m² 73,195,650 73,195,650

Contingency 3.00% 2,195,870 S106 - on-site 1,000.00 un 10,000.00 /un 10,000,000 12,195,869 Other Construction Externals 10.00% 7,319,565 CfSH 1,000.00 un 1,932.00 /un 1,932,000 Lifetime Homes 1,000.00 un 395.00 /un 395,000 Renewables 1,000.00 un 1,800.00 /un 1,800,000 11,446,565 INFRASTRUCTURE COSTS Infrastructure Costs 8,546,100 Infrastructure Costs 600,240 9,146,340

PROFESSIONAL FEES Architect 5.00% 4,025,761 Quantity Surveyor 1.00% 805,152 Structural Engineer 2.00% 1,610,304 Project Manager 1.00% 805,152 C.D. Manager 1.00% 805,152 8,051,522 DISPOSAL FEES Sales Agent Fee 3.00% 4,840,564 Sales Legal Fee 1,000.00 un 750.00 /un 750,000 5,590,564

MISCELLANEOUS FEES Arrangement Fees 1.00% 1,034,357 1,034,357 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 7,286,910

TOTAL COSTS 144,063,158

PROFIT 30,306,314

Performance Measures Profit on Cost% 21.04% Profit on GDV% 17.38%

This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1) IRR 18.02%

Land Cost pHect 498,136

This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

1,000 Unit Residential Greenfield Scheme (CU1)

Table of Land Cost and Profit Amount Construction: Cost / Unit Sales: Rate pm² -10,000 -8,000 -6,000 -4,000 -2,000 0 +2,000 +4,000 +6,000 +8,000 +10,000 -125.00 pm² (£18,290,736) (£16,502,775) (£14,714,815) (£12,926,855) (£11,138,895) (£9,350,935) (£7,562,975) (£5,775,015) (£3,987,054) (£2,198,812) (£408,763) 2,250.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,469 0.00 pm² (£24,131,780) (£22,344,056) (£20,556,331) (£18,768,606) (£16,980,882) (£15,193,157) (£13,405,432) (£11,617,708) (£9,829,983) (£8,042,258) (£6,254,534) 2,375.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 +125.00 pm² (£29,967,212) (£28,179,663) (£26,392,115) (£24,604,566) (£22,817,017) (£21,029,469) (£19,241,920) (£17,454,371) (£15,666,823) (£13,879,274) (£12,091,725) 2,500.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 Sensitivity Analysis : Assumptions for Calculation

Construction: Cost / Unit Original Values are varied in Fixed Steps of £2,000

Heading Phase Amount No. of Steps 1BF - Private 2 £46,485 5 Up & Down 2BF - AR 2 £69,211 5 Up & Down 2BF - Private 2 £61,980 5 Up & Down 2BF - SO 2 £69,211 5 Up & Down 2BH - AR 2 £66,450 5 Up & Down 2BH - Private 2 £66,450 5 Up & Down 2BH - SO 2 £66,450 5 Up & Down 3BH - AR 2 £75,310 5 Up & Down 3BH - Private 2 £84,170 5 Up & Down 4BH - AR 2 £97,460 5 Up & Down 4BH - Private 2 £110,750 5 Up & Down 1BF - SO 2 £51,650 5 Up & Down 1BF - AR 2 £51,650 5 Up & Down

Sales: Rate pm²

Heading Phase Rate No. of Steps 1BF - Private 2 £2,375.00 1 Up & Down 2BF - Private 2 £2,375.00 1 Up & Down 2BF - SO 2 £1,350.00 1 Up & Down 2BH - Private 2 £2,375.00 1 Up & Down 2BH - SO 2 £1,350.00 1 Up & Down 3BH - Private 2 £2,375.00 1 Up & Down 4BH - Private 2 £2,375.00 1 Up & Down 1BF - SO 2 £1,350.00 1 Up & Down

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 Dixon Searle Partnership

Development Appraisal

1,000 Unit Residential Greenfield Scheme (CU1)

25% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1)

Summary Appraisal for Merged Phases 2 3

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales 1BF - Private 50 2,025.00 2,375.00 96,188 4,809,375 2BF - AR 20 1,206.00 1,510.66 91,093 1,821,860 2BF - Private 100 5,400.00 2,375.00 128,250 12,825,000 2BF - SO 40 2,412.00 1,350.00 81,405 3,256,200 2BH - AR 20 1,500.00 1,213.91 91,043 1,820,860 2BH - Private 300 22,500.00 2,375.00 178,125 53,437,500 2BH - SO 40 3,000.00 1,350.00 101,250 4,050,000 3BH - AR 40 3,400.00 1,268.18 107,795 4,311,800 3BH - Private 220 20,900.00 2,375.00 225,625 49,637,500 4BH - AR 30 3,300.00 1,244.81 136,929 4,107,873 4BH - Private 80 10,000.00 2,375.00 296,875 23,750,000 1BF - SO 20 1,000.00 1,350.00 67,500 1,350,000 1BF - AR 40 1,800.00 1,586.18 71,378 2,855,120 Totals 1,000 78,443.00 168,033,088

Investment Valuation Ground Rent Manual Value 375,000 Employment Land Manual Value 1,200,000 1,575,000

GROSS DEVELOPMENT VALUE 169,608,088

NET REALISATION 169,608,088

OUTLAY

ACQUISITION COSTS Residualised Price (30.50 Ha 347,816.10 pHect) 10,608,391 Stamp Duty 405,557 Agent Fee 1.50% 152,084 Legal Fee 0.75% 76,042 11,242,073 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 2,250.00 m² 1,033.00 pm² 2,324,250 2BF - AR 1,340.00 m² 1,033.00 pm² 1,384,220 2BF - Private 6,000.00 m² 1,033.00 pm² 6,198,000 2BF - SO 2,680.00 m² 1,033.00 pm² 2,768,440 2BH - AR 1,500.00 m² 886.00 pm² 1,329,000 2BH - Private 22,500.00 m² 886.00 pm² 19,935,000 2BH - SO 3,000.00 m² 886.00 pm² 2,658,000 This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1) 3BH - AR 3,400.00 m² 886.00 pm² 3,012,400 3BH - Private 20,900.00 m² 886.00 pm² 18,517,400 4BH - AR 3,300.00 m² 886.00 pm² 2,923,800 4BH - Private 10,000.00 m² 886.00 pm² 8,860,000 1BF - SO 1,000.00 m² 1,033.00 pm² 1,033,000 1BF - AR 2,000.00 m² 1,033.00 pm² 2,066,000 Totals 79,870.00 m² 73,009,510 73,009,510

Contingency 3.00% 2,190,285 S106 - on-site 1,000.00 un 10,000.00 /un 10,000,000 12,190,285 Other Construction Externals 10.00% 7,300,951 CfSH 1,000.00 un 1,932.00 /un 1,932,000 Lifetime Homes 1,000.00 un 395.00 /un 395,000 Renewables 1,000.00 un 1,800.00 /un 1,800,000 11,427,951 INFRASTRUCTURE COSTS Infrastructure Costs 8,546,100 Infrastructure Costs 600,240 9,146,340

PROFESSIONAL FEES Architect 5.00% 4,015,523 Quantity Surveyor 1.00% 803,105 Structural Engineer 2.00% 1,606,209 Project Manager 1.00% 803,105 C.D. Manager 1.00% 803,105 8,031,046 DISPOSAL FEES Sales Agent Fee 3.00% 4,593,467 Sales Legal Fee 1,000.00 un 750.00 /un 750,000 5,343,467

MISCELLANEOUS FEES Arrangement Fees 1.00% 1,032,049 1,032,049 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 7,879,052

TOTAL COSTS 139,301,774

PROFIT 30,306,314

Performance Measures Profit on Cost% 21.76% Profit on GDV% 17.87%

This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 1,000 Unit Residential Greenfield Scheme (CU1) IRR 17.63%

Land Cost pHect 347,816

This appraisal report does not constitute a formal valuation.

File: CU1\1000 Unit - CU1 - 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

1,000 Unit Residential Greenfield Scheme (CU1)

Table of Land Cost and Profit Amount Construction: Cost / Unit Sales: Rate pm² -10,000 -8,000 -6,000 -4,000 -2,000 0 +2,000 +4,000 +6,000 +8,000 +10,000 -125.00 pm² (£13,953,217) (£12,165,256) (£10,377,296) (£8,589,336) (£6,801,135) (£5,012,875) (£3,224,614) (£1,436,353) £443,305 £2,459,784 £4,476,263 2,250.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,348,922 £30,350,216 £30,350,216 0.00 pm² (£19,547,014) (£17,759,290) (£15,971,565) (£14,183,840) (£12,396,116) (£10,608,391) (£8,820,666) (£7,032,942) (£5,245,217) (£3,457,368) (£1,669,408) 2,375.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 +125.00 pm² (£25,135,666) (£23,348,117) (£21,560,569) (£19,773,020) (£17,985,471) (£16,197,923) (£14,410,374) (£12,622,825) (£10,835,277) (£9,047,728) (£7,260,179) 2,500.00 pm² £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 £30,306,314 Sensitivity Analysis : Assumptions for Calculation

Construction: Cost / Unit Original Values are varied in Fixed Steps of £2,000

Sales: Rate pm²

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 Dixon Searle Partnership

Development Appraisal

3,000 Unit Residential Greenfield Scheme (CU11 / J27)

20% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27)

Summary Appraisal for Merged Phases 2 3

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales Adjustment Net Sales 1BF - Private 180 7,290.00 2,375.00 96,188 17,313,750 0 17,313,750 2BF - AR 60 3,618.00 1,510.66 91,093 5,465,580 0 5,465,580 2BF - Private 330 17,820.00 2,375.00 128,250 42,322,500 0 42,322,500 2BF - SO 90 5,427.00 1,350.00 81,405 7,326,450 0 7,326,450 2BH - AR 60 4,500.00 1,213.91 91,043 5,462,580 0 5,462,580 2BH - Private 900 67,500.00 2,375.00 178,125 160,312,500 0 160,312,500 2BH - SO 120 9,000.00 1,350.00 101,250 12,150,000 0 12,150,000 3BH - AR 60 5,100.00 1,268.18 107,795 6,467,700 0 6,467,700 3BH - Private 720 68,400.00 2,375.00 225,625 162,450,000 0 162,450,000 4BH - AR 60 6,600.00 1,244.81 136,929 8,215,746 0 8,215,746 4BH - Private 270 33,750.00 2,375.00 296,875 80,156,250 0 80,156,250 1BF - SO 30 1,500.00 1,350.00 67,500 2,025,000 0 2,025,000 1BF - AR 120 5,400.00 1,586.18 71,378 8,565,360 0 8,565,360 Totals 3,000 235,905.00 518,233,416 0 518,233,416

Investment Valuation Ground Rent Manual Value 1,275,000 Employment Land Manual Value 6,600,000 7,875,000

GROSS DEVELOPMENT VALUE 526,108,416

NET REALISATION 526,108,416

OUTLAY

ACQUISITION COSTS Residualised Price (96.00 Ha 477,080.83 pHect) 45,799,760 Stamp Duty 1,770,899 Agent Fee 1.50% 664,087 Legal Fee 0.75% 332,044 48,566,790 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 8,100.00 m² 1,033.00 pm² 8,367,300 2BF - AR 4,020.00 m² 1,033.00 pm² 4,152,660 2BF - Private 19,800.00 m² 1,033.00 pm² 20,453,400 2BF - SO 6,030.00 m² 1,033.00 pm² 6,228,990 2BH - AR 4,500.00 m² 886.00 pm² 3,987,000 2BH - Private 67,500.00 m² 886.00 pm² 59,805,000 This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27) 2BH - SO 9,000.00 m² 886.00 pm² 7,974,000 3BH - AR 5,100.00 m² 886.00 pm² 4,518,600 3BH - Private 68,400.00 m² 886.00 pm² 60,602,400 4BH - AR 6,600.00 m² 886.00 pm² 5,847,600 4BH - Private 33,750.00 m² 886.00 pm² 29,902,500 1BF - SO 1,500.00 m² 1,033.00 pm² 1,549,500 1BF - AR 6,000.00 m² 1,033.00 pm² 6,198,000 Totals 240,300.00 m² 219,586,950 219,586,950

Contingency 3.00% 6,587,609 S106 - on-site 3,000.00 un 10,000.00 /un 30,000,000 36,587,608 Other Construction Externals 10.00% 21,958,695 CfSH 3,000.00 un 1,932.00 /un 5,796,000 Lifetime Homes 3,000.00 un 395.00 /un 1,185,000 Renewables 3,000.00 un 1,800.00 /un 5,400,000 34,339,695 INFRASTRUCTURE COSTS Infrastructure Costs 25,488,000 Infrastructure Costs 3,312,000 28,800,000

PROFESSIONAL FEES Architect 5.00% 12,077,282 Quantity Surveyor 1.00% 2,415,456 Structural Engineer 2.00% 4,830,913 Project Manager 1.00% 2,415,456 C.D. Manager 1.00% 2,415,456 24,154,564 DISPOSAL FEES Sales Agent Fee 3.00% 14,521,693 Sales Legal Fee 3,000.00 un 750.00 /un 2,250,000 16,771,693

MISCELLANEOUS FEES Arrangement Fees 1.00% 3,101,568 3,101,568 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 18,127,370

TOTAL COSTS 430,036,240

PROFIT 96,072,176

Performance Measures Profit on Cost% 22.34% This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27) Profit on GDV% 18.26%

IRR 13.51%

Land Cost pHect 477,081

This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 20% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

3,000 Unit Residential Greenfield Scheme (CU11 / J27)

Table of Land Cost and Profit Amount Construction: Cost / Unit Sales: Rate pm² -10,000 -8,000 -6,000 -4,000 -2,000 0 +2,000 +4,000 +6,000 +8,000 +10,000 -125.00 pm² (£52,544,802) (£48,349,970) (£44,135,602) (£39,884,005) (£35,479,479) (£30,671,613) (£25,584,121) (£20,282,722) (£14,799,983) (£9,156,962) (£3,368,640) 2,250.00 pm² £96,067,701 £96,092,467 £96,128,912 £96,194,460 £96,451,616 £96,774,974 £96,933,241 £97,050,334 £97,145,673 £97,218,055 £97,276,816 0.00 pm² (£66,637,463) (£62,482,578) (£58,323,176) (£54,157,665) (£49,984,361) (£45,799,760) (£41,597,517) (£37,356,460) (£32,714,435) (£27,681,760) (£22,424,968) 2,375.00 pm² £95,996,996 £96,007,319 £96,017,887 £96,031,663 £96,048,717 £96,072,176 £96,107,253 £96,180,042 £96,718,789 £96,903,485 £97,025,695 +125.00 pm² (£80,605,694) (£76,467,291) (£72,326,892) (£68,184,127) (£64,038,721) (£59,889,914) (£55,737,153) (£51,579,330) (£47,415,043) (£43,241,376) (£39,053,083) 2,500.00 pm² £95,960,010 £95,964,819 £95,970,384 £95,976,751 £95,983,665 £95,992,309 £96,002,128 £96,014,333 £96,029,270 £96,049,578 £96,080,471

Sensitivity Analysis : Assumptions for Calculation

Construction: Cost / Unit Original Values are varied in Fixed Steps of £2,000

Sales: Rate pm²

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 Dixon Searle Partnership

Development Appraisal

3,000 Unit Residential Greenfield Scheme (CU11 / J27)

25% Affordable Housing - Zero CIL

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27)

Summary Appraisal for Merged Phases 2 3

Currency in £

REVENUE Sales Valuation Units m² Rate m² Unit Price Gross Sales Adjustment Net Sales 1BF - Private 150 6,075.00 2,375.00 96,188 14,428,125 0 14,428,125 2BF - AR 60 3,618.00 1,510.66 91,093 5,465,580 0 5,465,580 2BF - Private 300 16,200.00 2,375.00 128,250 38,475,000 0 38,475,000 2BF - SO 120 7,236.00 1,350.00 81,405 9,768,600 0 9,768,600 2BH - AR 60 4,500.00 1,213.91 91,043 5,462,580 0 5,462,580 2BH - Private 900 67,500.00 2,375.00 178,125 160,312,500 0 160,312,500 2BH - SO 120 9,000.00 1,350.00 101,250 12,150,000 0 12,150,000 3BH - AR 120 10,200.00 1,268.18 107,795 12,935,400 0 12,935,400 3BH - Private 660 62,700.00 2,375.00 225,625 148,912,500 0 148,912,500 4BH - AR 90 9,900.00 1,244.81 136,929 12,323,619 0 12,323,619 4BH - Private 240 30,000.00 2,375.00 296,875 71,250,000 0 71,250,000 1BF - SO 60 3,000.00 1,350.00 67,500 4,050,000 0 4,050,000 1BF - AR 120 5,400.00 1,586.18 71,378 8,565,360 0 8,565,360 Totals 3,000 235,329.00 504,099,264 0 504,099,264

Investment Valuation Ground Rent Manual Value 1,125,000 Employment Land Manual Value 6,600,000 7,725,000

GROSS DEVELOPMENT VALUE 511,824,264

NET REALISATION 511,824,264

OUTLAY

ACQUISITION COSTS Residualised Price (96.00 Ha 332,779.19 pHect) 31,946,802 Stamp Duty 1,216,781 Agent Fee 1.50% 456,293 Legal Fee 0.75% 228,146 33,848,022 CONSTRUCTION COSTS Construction m² Rate m² Cost 1BF - Private 6,750.00 m² 1,033.00 pm² 6,972,750 2BF - AR 4,020.00 m² 1,033.00 pm² 4,152,660 2BF - Private 18,000.00 m² 1,033.00 pm² 18,594,000 2BF - SO 8,040.00 m² 1,033.00 pm² 8,305,320 2BH - AR 4,500.00 m² 886.00 pm² 3,987,000 2BH - Private 67,500.00 m² 886.00 pm² 59,805,000 This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27) 2BH - SO 9,000.00 m² 886.00 pm² 7,974,000 3BH - AR 10,200.00 m² 886.00 pm² 9,037,200 3BH - Private 62,700.00 m² 886.00 pm² 55,552,200 4BH - AR 9,900.00 m² 886.00 pm² 8,771,400 4BH - Private 30,000.00 m² 886.00 pm² 26,580,000 1BF - SO 3,000.00 m² 1,033.00 pm² 3,099,000 1BF - AR 6,000.00 m² 1,033.00 pm² 6,198,000 Totals 239,610.00 m² 219,028,530 219,028,530

Contingency 3.00% 6,570,856 S106 - on-site 3,000.00 un 10,000.00 /un 30,000,000 36,570,856 Other Construction Externals 10.00% 21,902,853 CfSH 3,000.00 un 1,932.00 /un 5,796,000 Lifetime Homes 3,000.00 un 395.00 /un 1,185,000 Renewables 3,000.00 un 1,800.00 /un 5,400,000 34,283,853 INFRASTRUCTURE COSTS Infrastructure Costs 25,488,000 Infrastructure Costs 3,312,000 28,800,000

PROFESSIONAL FEES Architect 5.00% 12,046,569 Quantity Surveyor 1.00% 2,409,314 Structural Engineer 2.00% 4,818,628 Project Manager 1.00% 2,409,314 C.D. Manager 1.00% 2,409,314 24,093,138 DISPOSAL FEES Sales Agent Fee 3.00% 13,780,402 Sales Legal Fee 3,000.00 un 750.00 /un 2,250,000 16,030,402

MISCELLANEOUS FEES Arrangement Fees 1.00% 3,094,644 3,094,644 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Total Finance Cost 24,991,727

TOTAL COSTS 420,741,172

PROFIT 91,083,092

Performance Measures Profit on Cost% 21.65% This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP 3,000 Unit Residential Greenfield Scheme (CU11 / J27) Profit on GDV% 17.80%

IRR 12.46%

Land Cost pHect 332,779

This appraisal report does not constitute a formal valuation.

File: CU11 or J27\3000 Unit - CU11 or J27- 25% AH £0 CIL.wcfx ARGUS Developer Version: 6.00.008 - 4 - Date: 11/06/2014 SENSITIVITY ANALYSIS REPORT DIXON SEARLE PARTNERSHIP

3,000 Unit Residential Greenfield Scheme (CU11 / J27)

Table of Land Cost and Profit Amount Construction: Cost / Unit Sales: Rate pm² -10,000 -8,000 -6,000 -4,000 -2,000 0 +2,000 +4,000 +6,000 +8,000 +10,000 -125.00 pm² (£39,289,807) (£35,125,270) (£30,953,872) (£26,773,329) (£22,579,685) (£18,365,670) (£14,110,022) (£9,661,590) (£4,820,267) £507,727 £6,500,429 2,250.00 pm² £91,083,712 £91,096,641 £91,111,859 £91,130,834 £91,157,059 £91,195,820 £91,269,647 £91,581,122 £91,859,617 £92,140,711 £92,248,634 0.00 pm² (£52,699,003) (£48,555,387) (£44,408,785) (£40,258,940) (£36,105,384) (£31,946,802) (£27,781,875) (£23,608,669) (£19,423,115) (£15,217,049) (£10,940,703) 2,375.00 pm² £91,039,823 £91,046,059 £91,053,818 £91,062,169 £91,071,261 £91,083,092 £91,097,656 £91,115,672 £91,141,371 £91,182,114 £91,318,602 +125.00 pm² (£66,030,402) (£61,897,328) (£57,763,065) (£53,627,265) (£49,489,688) (£45,349,989) (£41,207,792) (£37,062,829) (£32,914,534) (£28,761,844) (£24,603,797) 2,500.00 pm² £91,011,571 £91,016,307 £91,020,147 £91,024,789 £91,029,929 £91,035,820 £91,042,524 £91,049,755 £91,058,233 £91,069,144 £91,082,063

Sensitivity Analysis : Assumptions for Calculation

Construction: Cost / Unit Original Values are varied in Fixed Steps of £2,000

Sales: Rate pm²

This appraisal report does not constitute a formal valuation.

ARGUS Developer Version: 6.00.008 - 5 - Report Date: 11/06/2014 D|S|P Housing & Development Consultants

Appendix IIb Commercial Appraisal Results Summary Table 2 Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate 5.5% Yield

Residual Land Value (£) Residual Land Value (£/Ha)

Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Residual Land Value Use Class / Type Scheme Type Value Level Site Size (Ha) - £0/m² CIL - £20/m² CIL - £40/m² CIL - £60/m² CIL - £80/m² CIL - £100/m² CIL - £120/m² CIL - £140/m² CIL - £160/m² CIL - £180/m² CIL - £0/m² CIL - £20/m² CIL - £40/m² CIL - £60/m² CIL - £80/m² CIL - £100/m² CIL - £120/m² CIL - £140/m² CIL - £160/m² CIL - £180/m² CIL

L 0.63 £299,546 £252,206 £204,866 £157,525 £110,185 £62,845 £15,505 Negative RLV £475,470 £400,327 £325,184 £250,040 £174,897 £99,754 £24,611 Negative RLV A1 Large Format Retail Supermarket M 0.63 £1,296,495 £1,249,155 £1,201,815 £1,154,475 £1,107,134 £1,059,794 £1,012,454 £965,114 £917,774 £870,433 £2,057,929 £1,982,786 £1,907,643 £1,832,500 £1,757,356 £1,682,213 £1,607,070 £1,531,927 £1,456,784 £1,381,640 H 0.63 £2,293,445 £2,246,104 £2,198,764 £2,151,424 £2,104,084 £2,056,743 £2,009,403 £1,962,063 £1,914,723 £1,867,383 £3,640,389 £3,565,244 £3,490,102 £3,414,959 £3,339,816 £3,264,671 £3,189,529 £3,114,386 £3,039,243 £2,964,100 L 0.60 A1 Large Format Retail Retail Warehousing M 0.60 H 0.60 L 0.06 A1 - A5 Town Centre Retail Convenience M 0.06 H 0.06 L 0.04 A1 - A5 Town Centre Retail Other Retail M 0.04 H 0.04 L 0.05 A1 - A5 Out of Town Farm Shop M 0.05 H 0.05 L 0.08 B1(a) Offices Town Centre M 0.08 H 0.08 L 0.63 B1(a) Offices Out of Town / Business Park M 0.63 Not Applicable Not Applicable H 0.63 L 0.06 B1(a) Offices Rural / Farm Diversification M 0.06 H 0.06 L 0.13 B8 Industrial Warehousing Start-up / Move-on M 0.13 H 0.13 L 0.50 B8 Industrial Warehousing Larger M 0.50 H 0.50 L 0.35 C1 Hotel Budget M 0.35 H 0.35 L 0.50 C2 Residential Institution Nursing Home M 0.50 H 0.50

Key: RLV Lower than Viability Test 1. Positive RLV beneath Viability Test 1 (RLV <£500,000/ha) RLV exceeding Viability Test 1 (RLV £500,000 - £750,000/ha) RLV exceeding Viability Test 2 (RLV £750,000 - £1,200,000/ha) RLV exceeding Viability Test 3 (RLV >£1,200,000/ha) Source: Dixon Searle LLP (May 2014)

D|S|P Housing and Development Consultants Appendix IIb Table 3 Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate 6% Yield

Residual Land Value (£) Residual Land Value (£/Ha)

L 0.63 Negative RLV Negative RLV A1 Large Format Retail Supermarket M 0.63 £844,654 £797,314 £749,974 £702,634 £655,294 £607,953 £560,613 £513,273 £465,933 £418,593 £1,340,721 £1,265,578 £1,190,435 £1,115,292 £1,040,149 £965,005 £889,862 £814,719 £739,576 £664,433 H 0.63 £1,753,440 £1,706,099 £1,658,759 £1,611,419 £1,564,079 £1,516,739 £1,469,398 £1,422,058 £1,374,718 £1,327,378 £2,783,238 £2,708,094 £2,632,951 £2,557,808 £2,482,665 £2,407,522 £2,332,378 £2,257,235 £2,182,092 £2,106,949 L 0.60 £37,379 £8,974 £62,298 £14,957 Negative RLV A1 Large Format Retail Retail Warehousing M 0.60 £387,503 £359,099 £330,695 £302,291 £273,887 £245,483 £217,079 £188,674 £160,270 £131,866 £645,838 £598,498 £551,158 £503,818 £456,478 £409,138 £361,798 £314,457 £267,117 Negative RLV H 0.60 £737,628 £709,224 £680,820 £652,416 £624,012 £595,608 £567,203 £538,799 £510,395 £481,991 £1,229,380 £1,182,040 £1,134,700 £1,087,360 £1,040,020 £992,680 £945,338 £897,998 £850,658 £803,318 L 0.06 A1 - A5 Town Centre Retail Convenience M 0.06 H 0.06 L 0.04 A1 - A5 Town Centre Retail Other Retail M 0.04 H 0.04 L 0.05 A1 - A5 Out of Town Farm Shop M 0.05 H 0.05 L 0.08 B1(a) Offices Town Centre M 0.08 H 0.08 L 0.63 B1(a) Offices Out of Town / Business Park M 0.63 H 0.63 Not Applicable Not Applicable L 0.06 B1(a) Offices Rural / Farm Diversification M 0.06 H 0.06 L 0.13 B8 Industrial Warehousing Start-up / Move-on M 0.13 H 0.13 L 0.50 B8 Industrial Warehousing Larger M 0.50 H 0.50 L 0.35 C1 Hotel Budget M 0.35 H 0.35 L 0.50 C2 Residential Institution Nursing Home M 0.50 H 0.50

D|S|P Housing and Development Consultants Appendix IIb Table 4 Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate 6.5% Yield

Residual Land Value (£) Residual Land Value (£/Ha)

L 0.63 Negative RLV Negative RLV A1 Large Format Retail Supermarket M 0.63 £462,521 £415,181 £367,840 £320,500 £273,160 £225,820 £178,480 £131,139 £83,799 £36,459 £734,160 £659,017 £583,873 £508,730 £433,587 £358,444 £283,302 £208,157 £133,014 £57,871 H 0.63 £1,296,743 £1,249,403 £1,202,063 £1,154,723 £1,107,383 £1,060,042 £1,012,702 £965,362 £918,022 £870,681 £2,058,322 £1,983,179 £1,908,037 £1,832,894 £1,757,751 £1,682,606 £1,607,463 £1,532,321 £1,457,178 £1,382,033 L 0.60 Negative RLV Negative RLV A1 Large Format Retail Retail Warehousing M 0.60 £243,871 £215,467 £187,062 £158,658 £130,254 £101,850 £73,446 £45,042 £16,638 Negative RLV £406,452 £359,112 £311,770 £264,430 £217,090 £169,750 £122,410 £75,070 £27,730 Negative RLV H 0.60 £565,269 £536,865 £508,461 £480,057 £451,653 £423,248 £394,844 £366,440 £338,036 £309,632 £942,115 £894,775 £847,435 £800,095 £752,755 £705,413 £658,073 £610,733 £563,393 £516,053 L 0.06 Negative RLV Negative RLV A1 - A5 Town Centre Retail Convenience M 0.06 H 0.06 £5,729 £48 Negative RLV £95,483 £800 Negative RLV L 0.04 Negative RLV Negative RLV A1 - A5 Town Centre Retail Other Retail M 0.04 H 0.04 £4,536 Negative RLV £113,400 Negative RLV L 0.05 A1 - A5 Out of Town Farm Shop M 0.05 H 0.05 L 0.08 B1(a) Offices Town Centre M 0.08 H 0.08 L 0.63 B1(a) Offices Out of Town / Business Park M 0.63 H 0.63 L 0.06 B1(a) Offices Rural / Farm Diversification M 0.06 H 0.06 Negative RLV Negative RLV L 0.13 B8 Industrial Warehousing Start-up / Move-on M 0.13 H 0.13 L 0.50 B8 Industrial Warehousing Larger M 0.50 H 0.50 L 0.35 C1 Hotel Budget M 0.35 H 0.35 L 0.50 C2 Residential Institution Nursing Home M 0.50 H 0.50

D|S|P Housing and Development Consultants Appendix IIb Table 5 Residual Land Value Results by Use Class, Scheme Type, Value Level & CIL Rate 7.5% Yield

Residual Land Value (£) Residual Land Value (£/Ha)

L 0.63 Negative RLV Negative RLV A1 Large Format Retail Supermarket M 0.63 Negative RLV H 0.63 £566,618 £519,278 £471,938 £424,598 £377,258 £329,917 £282,577 £235,237 £187,897 £140,557 £899,394 £824,251 £749,108 £673,965 £598,822 £523,678 £448,535 £373,392 £298,249 £223,106 L 0.60 Negative RLV Negative RLV A1 Large Format Retail Retail Warehousing M 0.60 £14,244 Negative RLV £23,740 Negative RLV H 0.60 £289,717 £261,313 £232,909 £204,504 £176,100 £147,696 £119,292 £90,888 £62,484 £34,080 £482,862 £435,522 £388,182 £340,840 £293,500 £246,160 £198,820 £151,480 £104,140 £56,800 L 0.06 A1 - A5 Town Centre Retail Convenience M 0.06 H 0.06 L 0.04 A1 - A5 Town Centre Retail Other Retail M 0.04 H 0.04 L 0.05 A1 - A5 Out of Town Farm Shop M 0.05 H 0.05 L 0.08 B1(a) Offices Town Centre M 0.08 H 0.08 L 0.63 B1(a) Offices Out of Town / Business Park M 0.63 H 0.63 Negative RLV Negative RLV L 0.06 B1(a) Offices Rural / Farm Diversification M 0.06 H 0.06 L 0.13 B8 Industrial Warehousing Start-up / Move-on M 0.13 H 0.13 L 0.50 B8 Industrial Warehousing Larger M 0.50 H 0.50 L 0.35 C1 Hotel Budget M 0.35 H 0.35 L 0.50 C2 Residential Institution Nursing Home M 0.50 H 0.50

D|S|P Housing and Development Consultants Appendix IIb D|S|P Housing & Development Consultants

Appendix IIb Non-Residential Appraisal Summaries Dixon Searle Partnership

Development Appraisal

Supermarket (2,500sqm) - Medium Value

Report Date: 11 June 2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP Supermarket (2,500sqm) - Medium Value

Summary Appraisal for Phase 1

Currency in £

REVENUE

Rental Area Summary Initial Net Rent Initial Units m² Rate m² MRV/Unit at Sale MRV Supermarket (2500 sqm) 1 2,250.00 205.00 461,250 461,250 461,250

Investment Valuation Supermarket (2500 sqm) Market Rent 461,250 YP @ 5.5000% 18.1818 (1yr Rent Free) PV 1yr @ 5.5000% 0.9479 7,949,160

GROSS DEVELOPMENT VALUE 7,949,160

Purchaser's Costs 5.75% (457,077) (457,077)

NET DEVELOPMENT VALUE 7,492,083

NET REALISATION 7,492,083

OUTLAY

ACQUISITION COSTS Residualised Price (0.63 Ha 2,057,929.01 pHect) 1,296,495 Agent Fee 1.50% 19,447 Legal Fee 0.75% 9,724 Site Prep & s06 Costs 0.63 ha 200,000.00 /ha 126,000 1,451,666 CONSTRUCTION COSTS Construction m² Rate m² Cost Supermarket (2500 sqm) 2,500.00 m² 1,094.00 pm² 2,735,000 2,735,000

Contingency 5.00% 136,750 136,750 Other Construction Site Works 20.00% 547,000 547,000

PROFESSIONAL FEES All Professional 10.00% 328,200 328,200 MARKETING & LETTING Letting Agent Fee 10.00% 46,125 Letting Legal Fee 1.00% 4,613 This appraisal report does not constitute a formal valuation.

File: Medium\Supermarket MV £0CIL.wcfx ARGUS Developer Version: 6.00.008 - 2 - Date: 11/06/2014 APPRAISAL SUMMARY DIXON SEARLE PARTNERSHIP Supermarket (2,500sqm) - Medium Value 50,738

MISCELLANEOUS FEES Planning / Insurances 2.00% 54,700 BREEAM 8.00% 218,800 Arrangement Fee 2.00% 119,599 393,099 FINANCE Debit Rate 6.500% Credit Rate 0.500% (Nominal) Land 127,508 Construction 132,291 Total Finance Cost 259,799

TOTAL COSTS 5,902,251

PROFIT 1,589,832

Performance Measures Profit on Cost% 26.94% Profit on GDV% 20.00% Development Yield% (on Rent) 7.81% Equivalent Yield% (Nominal) 5.50% Equivalent Yield% (True) 5.69%

IRR 41.84%

Land Cost pHect 2,057,929

This appraisal report does not constitute a formal valuation.

File: Medium\Supermarket MV £0CIL.wcfx ARGUS Developer Version: 6.00.008 - 3 - Date: 11/06/2014 Mid Devon District Council D|S|P Development & Viability Consultants

D|S|P Development & Viability Consultants

Appendix III Market and Values Research

For: Mid Devon District Council Community Infrastructure Levy & Local Plan Viability Assessment

FINAL

Dixon Searle LLP The Old Hayloft 28C Headley Road Grayshott Hindhead GU26 6LD

www.dixonsearle.co.uk

Mid Devon District Council D|S|P Development & Viability Consultants

Contents Page

Overall residential market review (by settlement areas / localities) 3

Zoopla residential market research 23

DSP New-build housing research 44

Sheltered Housing research 51

Economic / Housing Market Context 52

Residential Values Summary 65

Commercial Property Market Research 66

Commercial Market Context 99

Other Commercial Research 106

Stakeholder Consultation 108

Land Values Research 110

EGi property resource extracts for research base follow the above.

Mid Devon District Council D|S|P Development & Viability Consultants

Appendix II sets out details of the residential and commercial property market, both locally and on a regional / national basis. It also provides details of property market research (prices and values), the stakeholder consultation process and other data sources. Residential Market Review – March 2014

Source: www.rightmove.co.uk

Research based on settlement areas within the District (32 in total). Note no data was available for Butterleigh or Shillingford.

The following map show the names and locations of the 32 settlements researched.

Mid Devon District Council Location Map

Mid Devon District Council D|S|P Development & Viability Consultants

Rightmove Research (Re-Sales) by Ward Area – March 2014 Source: www.rightmove.co.uk

Crediton (95 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £169,967 £207,989 £238,883 £347,485 Semi-Detached £138,592 £169,967 £196,372 £394,988 Terraced £125,125 £138,592 £166,817 £174,950 Flats £108,283 £125,125 £138,592 £169,967 Bungalows n/a £172,498 £255,970 £332,475

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £108,283 £99,950 £99,950 £99,950 £112,450 £124,950 2-Bed Flats £125,125 £85,000 £112,488 £125,725 £139,984 £153,000 2-Bed Houses £159,597 £104,950 £124,000 £152,950 £185,000 £275,000 3-Bed Houses £194,532 £110,000 £165,000 £180,000 £219,950 £345,000 4-Bed Houses £348,650 £174,950 £282,500 £335,000 £352,500 £645,000 2-Bed Bungalows £172,498 £169,995 £171,246 £172,498 £173,749 £175,000 3-Bed Bungalows £255,970 £189,950 £199,950 £239,950 £275,000 £375,000 4-Bed Bungalows £332,475 £299,950 £316,213 £332,475 £348,738 £365,000

Cullompton (89 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £141,213 £182,300 £244,981 £276,161 Semi-Detached £126,530 £141,213 £181,170 £275,725 Terraced £147,970 £126,530 £152,818 £222,975 Flats £111,225 £147,970 £126,530 £141,213 Bungalows n/a £187,500 £297,680 £275,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £111,225 £104,950 £108,088 £111,225 £114,363 £117,500 2-Bed Flats £147,970 £129,950 £146,950 £149,950 £151,000 £162,000 2-Bed Houses £139,826 £80,000 £117,000 £134,950 £159,950 £229,950 3-Bed Houses £184,719 £99,950 £139,988 £179,950 £194,950 £497,500 4-Bed Houses £271,836 £155,000 £219,950 £249,950 £284,950 £499,950 2-Bed Bungalows £187,500 £150,000 £168,750 £187,500 £206,250 £225,000 3-Bed Bungalows £297,680 £173,500 £229,950 £299,950 £325,000 £460,000 4-Bed Bungalows £275,000 £275,000 £275,000 £275,000 £275,000 £275,000

Mid Devon District Council D|S|P Development & Viability Consultants

Tiverton (192 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £149,493 £149,950 £221,704 £322,357 Semi-Detached £134,264 £149,493 £179,473 £254,970 Terraced £115,764 £134,264 £150,614 £205,825 Flats £94,956 £115,764 £134,264 £149,493 Bungalows n/a £183,980 £246,246 £356,661

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £94,956 £60,000 £79,950 £89,950 £105,000 £165,000 2-Bed Flats £115,764 £69,500 £105,000 £117,950 £125,000 £164,000 2-Bed Houses £139,823 £100,000 £131,963 £141,250 £149,950 £167,500 3-Bed Houses £172,941 £69,950 £149,950 £170,000 £197,000 £300,000 4-Bed Houses £288,934 £150,000 £223,725 £267,000 £305,000 £625,000 2-Bed Bungalows £183,980 £159,950 £160,000 £160,000 £189,950 £250,000 3-Bed Bungalows £246,246 £150,000 £192,500 £250,000 £316,250 £325,000 4-Bed Bungalows £356,661 £269,950 £300,000 £375,000 £395,000 £425,000

Bampton (29 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £129,975 £256,225 £515,980 Semi-Detached £158,914 n/a £224,483 £279,983 Terraced n/a £158,914 £214,333 n/a Flats n/a n/a £158,914 n/a Bungalows n/a n/a £397,475 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £152,483 £100,000 £134,950 £150,000 £159,950 £265,000 3-Bed Houses £234,135 £125,000 £177,500 £235,000 £276,963 £359,950 4-Bed Houses £427,481 £225,000 £269,950 £350,000 £493,738 £850,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £397,475 £219,950 £308,713 £397,475 £486,238 £575,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Bickleigh (3 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £445,000 n/a Semi-Detached n/a n/a n/a n/a Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £495,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £445,000 £395,000 £420,000 £445,000 £470,000 £495,000 4-Bed Houses n/a n/a n/a n/a n/a n/a 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £495,000 £495,000 £495,000 £495,000 £495,000 £495,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Bow (28 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £136,500 £157,500 £212,500 £334,158 Semi-Detached £122,790 £136,500 £157,000 £207,475 Terraced n/a £122,790 £218,317 £275,000 Flats n/a n/a £122,790 £136,500 Bungalows n/a £157,498 £403,317 £299,950

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £129,707 £100,000 £124,500 £129,950 £135,750 £157,500 3-Bed Houses £206,158 £155,000 £161,500 £212,475 £249,988 £250,000 4-Bed Houses £299,433 £199,950 £235,000 £275,000 £285,000 £495,000 2-Bed Bungalows £157,498 £139,995 £148,746 £157,498 £166,249 £175,000 3-Bed Bungalows £403,317 £189,950 £307,475 £425,000 £510,000 £595,000 4-Bed Bungalows £299,950 £299,950 £299,950 £299,950 £299,950 £299,950

Mid Devon District Council D|S|P Development & Viability Consultants

Bradninch (18 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £156,633 n/a £183,500 £360,825 Semi-Detached £124,850 £156,633 £199,950 n/a Terraced n/a £124,850 £185,000 £435,000 Flats n/a n/a £124,850 £156,633 Bungalows n/a n/a n/a n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £138,471 £109,950 £124,725 £129,950 £152,475 £175,000 3-Bed Houses £187,988 £167,500 £180,625 £192,250 £199,613 £199,950 4-Bed Houses £371,421 £249,950 £320,000 £350,000 £442,500 £475,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Burlescombe (8 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £156,950 n/a £358,500 £350,000 Semi-Detached n/a £156,950 £220,000 £370,000 Terraced n/a n/a n/a n/a Flats n/a n/a n/a £156,950 Bungalows n/a £379,950 £225,000 £325,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £156,950 £156,950 £156,950 £156,950 £156,950 £156,950 3-Bed Houses £289,250 £220,000 £254,625 £289,250 £323,875 £358,500 4-Bed Houses £360,000 £350,000 £355,000 £360,000 £365,000 £370,000 2-Bed Bungalows £379,950 £379,950 £379,950 £379,950 £379,950 £379,950 3-Bed Bungalows £225,000 £225,000 £225,000 £225,000 £225,000 £225,000 4-Bed Bungalows £325,000 £325,000 £325,000 £325,000 £325,000 £325,000

Mid Devon District Council D|S|P Development & Viability Consultants

Chawleigh (8 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £245,000 £300,000 £500,000 Semi-Detached n/a n/a n/a £450,000 Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £241,650 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £245,000 £245,000 £245,000 £245,000 £245,000 £245,000 3-Bed Houses £300,000 £300,000 £300,000 £300,000 £300,000 £300,000 4-Bed Houses £483,333 £450,000 £475,000 £500,000 £500,000 £500,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £241,650 £150,000 £217,500 £285,000 £287,475 £289,950 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Cheriton Bishop (13 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £185,000 n/a £225,000 £340,000 Semi-Detached £152,500 £185,000 £205,000 £270,000 Terraced n/a £152,500 n/a n/a Flats n/a n/a £152,500 £185,000 Bungalows n/a n/a £257,500 £485,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £163,333 £125,000 £152,500 £180,000 £182,500 £185,000 3-Bed Houses £211,667 £200,000 £205,000 £210,000 £217,500 £225,000 4-Bed Houses £322,500 £270,000 £288,750 £322,500 £356,250 £375,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £257,500 £220,000 £238,750 £257,500 £276,250 £295,000 4-Bed Bungalows £485,000 £485,000 £485,000 £485,000 £485,000 £485,000

Mid Devon District Council D|S|P Development & Viability Consultants

Cheriton Fitzpaine (8 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a n/a £525,000 Semi-Detached £170,000 n/a £235,000 £324,000 Terraced n/a £170,000 £275,000 n/a Flats n/a n/a £170,000 n/a Bungalows n/a £199,950 £235,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £170,000 £170,000 £170,000 £170,000 £170,000 £170,000 3-Bed Houses £255,000 £235,000 £245,000 £255,000 £265,000 £275,000 4-Bed Houses £391,000 £299,000 £324,000 £349,000 £437,000 £525,000 2-Bed Bungalows £199,950 £199,950 £199,950 £199,950 £199,950 £199,950 3-Bed Bungalows £235,000 £235,000 £235,000 £235,000 £235,000 £235,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Colebrooke (2 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a n/a n/a Semi-Detached n/a n/a £345,000 n/a Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £450,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £345,000 £345,000 £345,000 £345,000 £345,000 £345,000 4-Bed Houses n/a n/a n/a n/a n/a n/a 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £450,000 £450,000 £450,000 £450,000 £450,000 £450,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Copplestone (14 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £137,500 n/a £186,650 £273,300 Semi-Detached £125,000 £137,500 £320,000 n/a Terraced £140,000 £125,000 £200,000 £170,000 Flats n/a £140,000 £125,000 £137,500 Bungalows n/a n/a n/a £350,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats £140,000 £140,000 £140,000 £140,000 £140,000 £140,000 2-Bed Houses £131,250 £125,000 £128,125 £131,250 £134,375 £137,500 3-Bed Houses £215,990 £160,000 £199,950 £200,000 £200,000 £320,000 4-Bed Houses £231,980 £169,999 £170,000 £250,000 £269,950 £299,950 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows £350,000 £350,000 £350,000 £350,000 £350,000 £350,000

Culmstock (7 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a n/a £315,000 Semi-Detached n/a n/a n/a n/a Terraced £117,475 n/a £169,500 n/a Flats n/a £117,475 n/a n/a Bungalows n/a £244,950 £302,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats £117,475 £115,000 £116,238 £117,475 £118,713 £119,950 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £169,500 £169,500 £169,500 £169,500 £169,500 £169,500 4-Bed Houses £315,000 £315,000 £315,000 £315,000 £315,000 £315,000 2-Bed Bungalows £244,950 £244,950 £244,950 £244,950 £244,950 £244,950 3-Bed Bungalows £302,000 £229,000 £265,500 £302,000 £338,500 £375,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

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Halberton (7 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a n/a £456,250 Semi-Detached n/a n/a £190,000 £237,450 Terraced n/a n/a £139,950 n/a Flats £109,500 n/a n/a n/a Bungalows n/a n/a n/a n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats £109,500 £109,500 £109,500 £109,500 £109,500 £109,500 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £164,975 £139,950 £152,463 £164,975 £177,488 £190,000 4-Bed Houses £346,850 £189,950 £261,200 £336,225 £421,875 £525,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Hemyock (38 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £155,000 £197,500 £316,650 £478,322 Semi-Detached n/a £155,000 £212,370 £327,475 Terraced n/a n/a £178,960 £235,000 Flats n/a n/a n/a £155,000 Bungalows n/a £169,363 £211,665 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £176,250 £155,000 £165,625 £176,250 £186,875 £197,500 3-Bed Houses £223,585 £107,000 £164,950 £179,950 £199,950 £625,000 4-Bed Houses £432,904 £179,950 £248,713 £327,500 £612,500 £899,950 2-Bed Bungalows £169,363 £145,000 £152,500 £167,475 £186,238 £200,000 3-Bed Bungalows £211,665 £190,000 £204,998 £219,995 £222,498 £225,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Holcombe Rogus (1 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £1,250,000 n/a Semi-Detached n/a n/a n/a n/a Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a n/a n/a

Overall 3rd Average Minimum 1st Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £1,250,000 £1,250,000 £1,250,000 £1,250,000 £1,250,000 £1,250,000 4-Bed Houses n/a n/a n/a n/a n/a n/a 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Kentisbeare (11 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £215,000 £375,000 £426,167 Semi-Detached £134,950 n/a n/a n/a Terraced n/a £134,950 n/a n/a Flats n/a n/a £134,950 n/a Bungalows n/a n/a £340,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £161,633 £129,950 £134,950 £139,950 £177,475 £215,000 3-Bed Houses £375,000 £375,000 £375,000 £375,000 £375,000 £375,000 4-Bed Houses £426,167 £272,000 £310,000 £407,500 £508,750 £650,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £340,000 £340,000 £340,000 £340,000 £340,000 £340,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

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Lapford (21 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £249,950 £443,333 Semi-Detached £145,975 n/a £240,982 n/a Terraced n/a £145,975 £156,975 n/a Flats n/a n/a £145,975 n/a Bungalows n/a £139,950 £234,250 £290,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £145,975 £125,000 £142,963 £151,950 £154,963 £155,000 3-Bed Houses £214,474 £135,000 £174,484 £214,450 £249,988 £299,950 4-Bed Houses £443,333 £250,000 £340,000 £467,500 £568,750 £575,000 2-Bed Bungalows £139,950 £139,950 £139,950 £139,950 £139,950 £139,950 3-Bed Bungalows £234,250 £230,000 £232,125 £234,250 £236,375 £238,500 4-Bed Bungalows £290,000 £250,000 £270,000 £290,000 £310,000 £330,000

Morchard Bishop (15 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £340,000 £272,900 Semi-Detached £142,475 n/a £250,000 n/a Terraced n/a £142,475 n/a £199,950 Flats n/a n/a £142,475 n/a Bungalows n/a n/a £301,238 £210,000

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £142,475 £135,000 £138,738 £142,475 £146,213 £149,950 3-Bed Houses £295,000 £250,000 £272,500 £295,000 £317,500 £340,000 4-Bed Houses £260,742 £199,950 £250,000 £257,500 £290,875 £300,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £301,238 £239,950 £247,488 £250,000 £303,750 £465,000 4-Bed Bungalows £210,000 £210,000 £210,000 £210,000 £210,000 £210,000

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Newton St. Cyres (10 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £210,000 n/a n/a £530,000 Semi-Detached £155,000 £210,000 £239,975 n/a Terraced n/a £155,000 £237,500 n/a Flats n/a n/a £155,000 £210,000 Bungalows n/a n/a n/a £472,500

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £182,500 £155,000 £168,750 £182,500 £196,250 £210,000 3-Bed Houses £238,738 £199,950 £214,988 £237,500 £261,250 £280,000 4-Bed Houses £530,000 £275,000 £402,500 £530,000 £657,500 £785,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows £472,500 £450,000 £461,250 £472,500 £483,750 £495,000

Oakford (3 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £575,000 n/a Semi-Detached n/a n/a £298,500 n/a Terraced £95,000 n/a n/a n/a Flats n/a £95,000 n/a n/a Bungalows n/a n/a n/a n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats £95,000 £95,000 £95,000 £95,000 £95,000 £95,000 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £436,750 £298,500 £367,625 £436,750 £505,875 £575,000 4-Bed Houses n/a n/a n/a n/a n/a n/a 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

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Sampford Peverell (9 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £249,950 £308,480 Semi-Detached n/a n/a n/a n/a Terraced n/a n/a £149,950 n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £305,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £199,950 £149,950 £174,950 £199,950 £224,950 £249,950 4-Bed Houses £308,480 £249,950 £269,950 £285,000 £327,500 £410,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £305,000 £275,000 £290,000 £305,000 £320,000 £335,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Sandford (16 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a £175,000 £315,000 £524,975 Semi-Detached £183,317 n/a £257,500 £299,975 Terraced n/a £183,317 £189,975 n/a Flats n/a n/a £183,317 n/a Bungalows n/a £179,950 £375,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £181,238 £169,950 £173,738 £180,000 £187,500 £195,000 3-Bed Houses £254,158 £180,000 £183,750 £197,475 £289,988 £450,000 4-Bed Houses £412,475 £249,950 £324,988 £424,975 £512,463 £550,000 2-Bed Bungalows £179,950 £179,950 £179,950 £179,950 £179,950 £179,950 3-Bed Bungalows £375,000 £375,000 £375,000 £375,000 £375,000 £375,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Silverton (22 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £299,950 n/a n/a £463,317 Semi-Detached £174,017 £299,950 £275,000 £275,000 Terraced n/a £174,017 £176,225 £235,000 Flats n/a n/a £174,017 £299,950 Bungalows n/a £217,475 £247,500 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £192,007 £139,500 £167,350 £169,950 £199,975 £299,950 3-Bed Houses £209,150 £167,500 £173,088 £183,725 £241,238 £290,000 4-Bed Houses £379,990 £235,000 £239,950 £275,000 £325,000 £825,000 2-Bed Bungalows £217,475 £179,950 £198,713 £217,475 £236,238 £255,000 3-Bed Bungalows £247,500 £200,000 £223,750 £247,500 £271,250 £295,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Thorverton (11 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £385,000 n/a n/a £470,000 Semi-Detached £165,000 £385,000 n/a n/a Terraced £151,725 £165,000 £250,000 n/a Flats n/a £151,725 £165,000 £385,000 Bungalows n/a £95,000 £422,500 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats £151,725 £148,500 £150,113 £151,725 £153,338 £154,950 2-Bed Houses £275,000 £165,000 £220,000 £275,000 £330,000 £385,000 3-Bed Houses £250,000 £250,000 £250,000 £250,000 £250,000 £250,000 4-Bed Houses £470,000 £375,000 £425,000 £475,000 £517,500 £560,000 2-Bed Bungalows £95,000 £95,000 £95,000 £95,000 £95,000 £95,000 3-Bed Bungalows £422,500 £395,000 £408,750 £422,500 £436,250 £450,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Uffculme (11 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £164,950 n/a £234,928 £434,967 Semi-Detached £145,490 £164,950 £222,960 £212,500 Terraced n/a £145,490 £186,675 £335,000 Flats n/a n/a £145,490 £164,950 Bungalows n/a £234,133 n/a n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £151,050 £125,000 £140,000 £159,950 £161,225 £169,950 3-Bed Houses £212,329 £134,950 £168,950 £197,475 £242,488 £358,500 4-Bed Houses £370,480 £212,500 £335,000 £339,950 £379,950 £585,000 2-Bed Bungalows £234,133 £169,950 £192,463 £209,975 £238,738 £379,950 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Westleigh (6 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £450,000 £517,500 Semi-Detached n/a n/a £264,950 n/a Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £225,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £326,633 £249,950 £264,950 £279,950 £364,975 £450,000 4-Bed Houses £517,500 £350,000 £433,750 £517,500 £601,250 £685,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £225,000 £225,000 £225,000 £225,000 £225,000 £225,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Willand / Junction 27 (32 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached £150,225 n/a £234,490 £267,058 Semi-Detached £155,000 £150,225 £194,950 £212,500 Terraced n/a £155,000 £143,283 n/a Flats n/a n/a £155,000 £150,225 Bungalows n/a £192,463 n/a n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses £151,817 £147,500 £150,225 £152,950 £153,975 £155,000 3-Bed Houses £198,508 £134,950 £164,950 £187,475 £211,875 £350,000 4-Bed Houses £262,862 £212,500 £239,950 £245,000 £275,000 £325,000 2-Bed Bungalows £192,463 £159,950 £182,450 £194,975 £204,988 £219,950 3-Bed Bungalows n/a n/a n/a n/a n/a n/a 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Yeoford (7 properties)

1 Bed 2 Bed 3 Bed 4 Bed Detached n/a n/a £245,000 £469,975 Semi-Detached n/a n/a £140,000 n/a Terraced n/a n/a n/a n/a Flats n/a n/a n/a n/a Bungalows n/a n/a £250,000 n/a

Overall 1st 3rd Average Minimum Quartile Median Quartile Maximum 1-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Flats n/a n/a n/a n/a n/a n/a 2-Bed Houses n/a n/a n/a n/a n/a n/a 3-Bed Houses £192,500 £140,000 £166,250 £192,500 £218,750 £245,000 4-Bed Houses £469,975 £279,950 £294,950 £399,975 £575,000 £800,000 2-Bed Bungalows n/a n/a n/a n/a n/a n/a 3-Bed Bungalows £250,000 £250,000 £250,000 £250,000 £250,000 £250,000 4-Bed Bungalows n/a n/a n/a n/a n/a n/a

Mid Devon District Council D|S|P Development & Viability Consultants

Re-sale Values Analysis Summary

Average Asking Prices Analysis - Flats and Houses

1 Bed 2 Bed 2 Bed 3 Bed 4 Bed All Settlement Flats Flats House House House Properties

Holcombe Rogus* £1,250,000 £1,250,000 Bickleigh £445,000 £445,000 Westleigh £326,633 £517,500 £402,980 Chawleigh £245,000 £300,000 £483,333 £399,000 Yeoford £192,500 £469,975 £377,483 Colebrooke £345,000 £345,000 Kentisbeare £161,633 £375,000 £426,167 £341,690 Oakford £95,000 £436,750 £322,833 Thorverton £151,725 £275,000 £250,000 £470,000 £314,181 Hemyock £176,250 £223,585 £432,904 £313,109 Cheriton Fitzpaine £170,000 £255,000 £391,000 £308,833 Newton St Cyres £182,500 £238,738 £530,000 £297,494 Burlescombe £156,950 £289,250 £360,000 £291,090 Lapford £145,975 £214,474 £443,333 £283,172 Sandford £181,238 £254,158 £412,475 £278,557 Sampford Peverell £199,950 £308,480 £277,471 Bampton £152,483 £234,135 £427,481 £264,206 Halberton £109,500 £164,975 £346,850 £260,979 Silverton £192,007 £209,150 £379,990 £249,939 Morchard Bishop £142,475 £295,000 £260,742 £243,940 Cheriton Bishop £163,333 £211,667 £322,500 £241,500 Bradninch £138,471 £187,988 £371,421 £240,067 Willand / Junction 27 £151,817 £198,508 £262,862 £223,384 Uffculme £151,050 £212,329 £370,480 £222,379 Bow £129,707 £206,158 £299,433 £219,991 Copplestone £140,000 £131,250 £215,990 £231,980 £203,258 Crediton £108,283 £125,125 £159,597 £194,532 £348,650 £198,575 Cullompton £111,225 £147,970 £139,826 £184,719 £271,836 £198,102 Culmstock £117,475 £169,500 £315,000 £179,863 Tiverton £94,956 £115,764 £139,823 £172,941 £288,934 £174,993 Overall £98,741 £123,827 £154,187 £208,253 £341,661 £226,836 Note: Highlighted cells represented the 3 main settlements *single property only

Mid Devon District Council D|S|P Development & Viability Consultants

Average Asking Prices Analysis - Flats and Houses (£ per sq m*)

1 Bed 2 Bed 2 Bed 3 Bed 4 Bed All Settlement Flats Flats House House House Properties

Holcombe Rogus** £0 £0 £0 £13,158 £0 £13,158 Bickleigh £0 £0 £0 £4,684 £0 £4,684 VL7+ Westleigh £0 £0 £0 £3,438 £4,140 £3,837 Colebrooke £0 £0 £0.00 £3,632 £0.00 £3,632 Chawleigh £0 £0 £3,267 £3,158 £3,867 £3,486 Oakford £0 £1,583 £0 £4,597 £0 £3,431 VL6-VL7 Kentisbeare £0 £0 £2,155 £3,947 £3,409 £3,264 Thorverton £0 £2,529 £3,667 £2,632 £3,760 £3,230 Newton St Cyres £0 £0 £2,433 £2,513 £4,240 £3,225 VL5-VL6 Yeoford £0 £0 £0 £2,026 £3,760 £3,011 Sandford £0 £0 £2,417 £2,675 £3,300 £2,874 Hemyock £0 £0 £2,350 £2,354 £3,463 £2,823 VL4-VL5 Cheriton Fitzpaine £0 £0 £2,267 £2,684 £3,128 £2,766 Bampton £0 £0 £2,033 £2,465 £3,420 £2,760 Burlescombe £0 £0 £2,093 £3,045 £2,880 £2,733 Lapford £0 £0 £1,946 £2,258 £3,547 £2,725 VL3-VL4 Silverton £0 £0 £2,560 £2,202 £3,040 £2,648 Uffculme £0 £0 £2,014 £2,235 £2,964 £2,488 Morchard Bishop £0 £0 £1,900 £3,105 £2,086 £2,367 Bradninch £0 £0 £1,846 £1,979 £2,971 £2,366 Cheriton Bishop £0 £0 £2,178 £2,228 £2,580 £2,364 VL2-VL3 Halberton £2,433 £0 £0 £1,737 £2,775 £2,345 Crediton £2,406 £2,085 £2,128 £2,048 £2,789 £2,340 Sampford Peverell £0 £0 £0 £2,105 £2,468 £2,311 Bow £0 £0 £1,729 £2,170 £2,395 £2,154 Culmstock £0 £1,958 £0 £1,784 £2,520 £2,150 Cullompton £2,472 £2,466 £1,864 £1,944 £2,175 £2,139 VL1 - Willand / Junction 27 £0 £0 £2,024 £2,090 £2,103 £2,079 VL2 Tiverton £2,110 £1,929 £1,864 £1,820 £2,311 £2,031 Copplestone £0 £2,333 £1,750 £2,274 £1,856 £2,026 Overall £2,194 £2,064 £2,056 £2,192 £2,733 £2,317 * as if units were all as per DSP sizes used for modelling purposes. ** single property only

Mid Devon District Council D|S|P Development & Viability Consultants

Average Asking Prices Analysis - Bungalows 2 Bed 3 Bed 4 Bed All Settlement Bungalow Bungalow Bungalow Properties Bickleigh £495,000 £495,000 Newton St Cyres £472,500 £472,500 Colebrooke £450,000 £450,000 Bampton £397,475 £397,475 Copplestone £350,000 £350,000 Kentisbeare £340,000 £340,000 Cheriton Bishop £257,500 £485,000 £333,333 Thorverton £95,000 £422,500 £313,333 Burlescombe £379,950 £225,000 £325,000 £309,983 Sampford Peverell £305,000 £305,000 Bow £157,498 £403,317 £299,950 £304,149 Morchard Bishop £301,238 £210,000 £282,990 Culmstock £244,950 £302,000 £282,983 Sandford £179,950 £375,000 £277,475 Tiverton £183,980 £246,246 £356,661 £272,492 Cullompton £187,500 £297,680 £275,000 £267,300 Crediton £172,498 £255,970 £332,475 £254,422 Yeoford £250,000 £250,000 Chawleigh £241,650 £241,650 Lapford £139,950 £234,250 £290,000 £237,690 Uffculme £234,133 £234,133 Silverton £217,475 £247,500 £232,488 Westleigh £225,000 £225,000 Cheriton Fitzpaine £199,950 £235,000 £217,475 Willand / Junction £192,463 £192,463 27 Hemyock £169,363 £211,665 £180,900 Bradninch n/a Halberton n/a Oakford n/a Overall £193,490 £288,167 £349,755 £268,952

Mid Devon District Council D|S|P Development & Viability Consultants

Average Asking Price Analysis - Flats and Houses 1 Bed Flat - £98,741 2 Bed Flat - £123,827 Terraced £142,777 2 Bed House Semi-Detached £168,529 Detached £186,672 Terraced £167,890 3 Bed House Semi-Detached £205,159 Detached £270,465 Terraced £230,047 4 Bed House Semi-Detached £293,138 Detached £366,131

Average Asking Price Analysis - Bungalows 2 Bed Bungalow - £193,490 3 Bed Bungalow - £288,167 4 Bed Bungalow - £349,755

Mid Devon District Council D|S|P Development & Viability Consultants

Zoopla Average Values Data (searched settlement/locality names) follows:

(Source of information in tables on this and following pages: www.zoopla.co.uk – March 2014) Heat Map

Mid Devon District Council D|S|P Development & Viability Consultants

Crediton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £257,358 £201 3.7 £241,004 Semi- £147,699 £165 3 £142,190 detached Terraced £109,973 £142 2.7 £104,782 Flats £101,149 £152 1.8 £91,613

Period Average Price Paid (£) No. of Sales

Last year £233,663 247 Last 3 years £224,278 797 Last 5 years £221,041 1,414 Last 7 years £220,550 2,057 Average current value estimate: £249,131 Average current asking price: £316,686

Cullompton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £313,887 £223 3.8 £263,576 Semi- £195,784 £198 3 £187,803 detached Terraced £152,571 £209 2.6 £157,882 Flats £116,734 £196 1.8 £131,545

Period Average Price Paid (£) No. of Sales

Last year £208,102 335 Last 3 years £209,066 1,046 Last 5 years £207,305 1,639 Last 7 years £210,638 2,307 Average current value estimate: £235,762 Average current asking price: £280,646

Mid Devon District Council D|S|P Development & Viability Consultants

Tiverton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £334,836 £224 3.8 £309,515 Semi- £191,974 £194 3 £185,383 detached Terraced £160,537 £165 2.9 £151,321 Flats £112,097 £164 1.8 £111,047

Period Average Price Paid (£) No. of Sales

Last year £216,340 432 Last 3 years £211,565 1,287 Last 5 years £209,792 2,100 Last 7 years £211,661 3,035 Average current value estimate: £229,266 Average current asking price: £284,530

Ashill

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £384,981 £258 3.7 £429,000 Semi- £259,296 - 3 - detached Terraced £169,975 - 2.5 - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £429,000 1 Last 3 years £335,345 10 Last 5 years £313,429 15 Last 7 years £307,237 23 Average current value estimate: £329,735 Average current asking price: £403,749

Mid Devon District Council D|S|P Development & Viability Consultants

Bampton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £409,268 £238 3.9 £421,500 Semi- £225,893 £223 3 £156,500 detached Terraced £203,787 £167 3.1 £186,338 Flats £148,823 - - -

Period Average Price Paid (£) No. of Sales

Last year £267,119 23 Last 3 years £237,6688 77 Last 5 years £234,022 120 Last 7 years £237,117 202 Average current value estimate: £286,023 Average current asking price: £254,174

Bow

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £272,829 £177 4.1 £257,000 Semi- £170,454 £192 2.8 £171,381 detached Terraced £164,180 £176 2.7 £171,944 Flats £131,378 - - -

Period Average Price Paid (£) No. of Sales

Last year £187,931 21 Last 3 years £184,458 61 Last 5 years £195,924 103 Last 7 years £194,286 146 Average current value estimate: £207,387 Average current asking price: £247,900

Mid Devon District Council D|S|P Development & Viability Consultants

Bradninch

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £324,783 £242 3.6 £319,458 Semi- £227,465 £195 3.3 £198,500 detached Terraced £172,492 £190 2.8 £182,829 Flats £102,085 - - -

Period Average Price Paid (£) No. of Sales

Last year £218,415 27 Last 3 years £224,241 58 Last 5 years £210,944 119 Last 7 years £211,724 173 Average current value estimate: £240,786 Average current asking price: £237,094

Burlescombe

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £337,204 - 3.7 £240,000 Semi- £204,270 - 3 - detached Terraced £174,277 - 2.9 £124,950 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £211,238 4 Last 3 years £231,404 11 Last 5 years £229,945 21 Last 7 years £233,573 35 Average current value estimate: £273,400 Average current asking price: £433,843

Mid Devon District Council D|S|P Development & Viability Consultants

Cadeleigh

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £514,554 £166 4.1 - Semi- £320,983 - 3 - detached Terraced £186,875 - 2.7 - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year - - Last 3 years £422,500 2 Last 5 years £414,000 4 Last 7 years £428,200 5 Average current value estimate: £413,262 Average current asking price: £445,000

Chawleigh

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £342,851 £176 3.7 £224,166 Semi- £258,717 - 2.9 £140,500 detached Terraced £196,857 - 2.7 £204,667 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £214,417 6 Last 3 years £281,357 21 Last 5 years £277,956 34 Last 7 years £277,147 49 Average current value estimate: £296,099 Average current asking price: £295,400

Mid Devon District Council D|S|P Development & Viability Consultants

Cheriton Fitzpaine

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £337,674 £225 4.1 £282,666 Semi- £227,747 - 3.1 £245,000 detached Terraced £194,512 £238 2.7 £170,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £252,600 5 Last 3 years £289,466 15 Last 5 years £251,012 32 Last 7 years £246,742 47 Average current value estimate: £286,730 Average current asking price: £263,488

Cheriton Bishop

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £410,933 £261 3.9 £769,000 Semi- £238,765 - 3 £200,000 detached Terraced £248,035 - 3.2 £175,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £422,600 5 Last 3 years £394,833 18 Last 5 years £341,419 31 Last 7 years £376,797 47 Average current value estimate: £355,016 Average current asking price: £376,364

Mid Devon District Council D|S|P Development & Viability Consultants

Coldridge

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £329,818 £234 3.9 £217,500 Semi- £321,234 - 3.9 £165,000 detached Terraced £203,394 - 2.9 £120,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £180,000 4 Last 3 years £193,438 9 Last 5 years £207,150 13 Last 7 years £255,897 20 Average current value estimate: £311,625 Average current asking price: £253,300

Colebrooke

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £436,107 £265 3.6 £406,250 Semi- £155,669 - 3 - detached Terraced £218,276 - 2.9 £400,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £404,167 3 Last 3 years £250,857 7 Last 5 years £278,500 10 Last 7 years £304,036 14 Average current value estimate: £378,171 Average current asking price: £499,995

Mid Devon District Council D|S|P Development & Viability Consultants

Coleford

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £394,838 £298 4.2 £205,500 Semi- £302,296 - 3.8 - detached Terraced £240,564 - 2 - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £205,500 2 Last 3 years £236,750 6 Last 5 years £253,388 9 Last 7 years £285,050 10 Average current value estimate: £340,483 Average current asking price: £331,667

Copplestone

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £288,693 £212 3.9 £285,000 Semi- £182,018 £180 3.2 £131,667 detached Terraced £172,842 £187 3.3 £178,500 Flats £146,450 - 2.8 £130,000

Period Average Price Paid (£) No. of Sales

Last year £195,675 20 Last 3 years £197,864 79 Last 5 years £199,585 126 Last 7 years £195,718 195 Average current value estimate: £209,238 Average current asking price: £264,335

Mid Devon District Council D|S|P Development & Viability Consultants

Cove

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £415,127 £254 3.7 £466,875 Semi- £232,103 - - £230,000 detached Terraced £469,671 - - - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £419,500 5 Last 3 years £378,785 7 Last 5 years £401,437 8 Last 7 years £372,208 12 Average current value estimate: £384,433 Average current asking price: £536,990

Culmstock

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £362,233 £245 3.7 £343,333 Semi- £237,296 £169 3.4 - detached Terraced £184,572 - 2.9 - Flats £131,519 - 2 -

Period Average Price Paid (£) No. of Sales

Last year £343,333 3 Last 3 years £270,500 18 Last 5 years £241,300 33 Last 7 years £270,397 45 Average current value estimate: £284,266 Average current asking price: £217,870

Mid Devon District Council D|S|P Development & Viability Consultants

Down St Mary

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £427,724 £235 4.3 £242,500 Semi- £231,168 - 2.7 - detached Terraced £170,275 - 2.9 £158,650 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £192,190 5 Last 3 years £288,635 14 Last 5 years £282,950 23 Last 7 years £298,691 28 Average current value estimate: £338,870 Average current asking price: £552,500

Halberton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £379,178 £219 4.2 £324,917 Semi- £216,139 £159 3.1 £245,666 detached Terraced £171,696 - 3 £203,000 Flats £95,785 - 2 £78,000

Period Average Price Paid (£) No. of Sales

Last year £249,885 13 Last 3 years £246,985 36 Last 5 years £242,062 56 Last 7 years £246,488 80 Average current value estimate: £272,815 Average current asking price: £278,705

Mid Devon District Council D|S|P Development & Viability Consultants

Hemyock

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £336,914 £211 4 £260,442 Semi- £189,127 £220 3 £156,188 detached Terraced £164,151 - 2.8 £187,083 Flats £105,639 - 1.8 £91,350

Period Average Price Paid (£) No. of Sales

Last year £208,896 28 Last 3 years £228,186 84 Last 5 years £225,291 147 Last 7 years £235,937 227 Average current value estimate: £261,963 Average current asking price: £278,465

Hockworthy

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £489,790 - 4.1 £463,000 Semi- £217,619 - - - detached Terraced - - - - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £463,000 1 Last 3 years £356,500 2 Last 5 years £737,600 5 Last 7 years £623,500 8 Average current value estimate: £452,676 Average current asking price: £560,000

Mid Devon District Council D|S|P Development & Viability Consultants

Holcombe Rogus

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £492,454 £204 3.7 £350,000 Semi- £294,331 £230 3.3 - detached Terraced £235,574 - 2.9 £206,750 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £254,5800 3 Last 3 years £290,791 12 Last 5 years £278,977 22 Last 7 years £280,744 34 Average current value estimate: £382,311 Average current asking price: £992,500

Holcombe Rogus

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £532,229 - 4.3 £525,000 Semi- £297,257 - - - detached Terraced £344,273 - 2.3 £231,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £378,000 2 Last 3 years £393,200 5 Last 5 years £436,850 10 Last 7 years £431,528 16 Average current value estimate: £452,829 Average current asking price: £399,950

Mid Devon District Council D|S|P Development & Viability Consultants

Kentisbeare

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £407,320 £249 3.9 £231,000 Semi- £245,305 £220 2.8 £251,667 detached Terraced £188,492 - 2.8 £165,000 Flats £145,977 - - -

Period Average Price Paid (£) No. of Sales

Last year £250,800 5 Last 3 years £285,088 20 Last 5 years £301,650 45 Last 7 years £306,473 66 Average current value estimate: £320,677 Average current asking price: £590,667

Lapford

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £296,081 £215 3.4 £292,083 Semi- £179,970 £227 2.5 £194,833 detached Terraced £138,897 - 2.4 £134,786 Flats £96,516 - - -

Period Average Price Paid (£) No. of Sales

Last year £228,773 22 Last 3 years £221,010 51 Last 5 years £212,759 86 Last 7 years £207,852 117 Average current value estimate: £224,519 Average current asking price: £292,982

Mid Devon District Council D|S|P Development & Viability Consultants

Newton St Ceyres

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £425,289 £268 4 £367,500 Semi- £262,619 £250 3 £318,833 detached Terraced £178,233 - 2.6 £165,000 Flats £119,718 - 1.8 -

Period Average Price Paid (£) No. of Sales

Last year £306,278 9 Last 3 years £291,620 25 Last 5 years £288,146 41 Last 7 years £270,678 64 Average current value estimate: £316,707 Average current asking price: £282,475

Oakford

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £437,395 £286 3.9 £285,000 Semi- £267,379 - 3.1 £372,500 detached Terraced £227,097 - 3 - Flats £83,014 - - -

Period Average Price Paid (£) No. of Sales

Last year £285,000 1 Last 3 years £271,416 6 Last 5 years £307,750 12 Last 7 years £295,529 17 Average current value estimate: £327,195 Average current asking price: £524,975

Mid Devon District Council D|S|P Development & Viability Consultants

Puddington

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £334,581 - 3.5 £260,000 Semi- £182,521 - 3 £170,000 detached Terraced £195,299 - - - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £215,000 2 Last 3 years £326,667 6 Last 5 years £341,661 9 Last 7 years £338,494 10 Average current value estimate: £302,448 Average current asking price: £254,250

Sampford Peverell

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £320,217 £221 3.9 £297,273 Semi- £216,925 £206 3.2 £194,920 detached Terraced £186,978 - 2.8 £75,000 Flats £108,770 - 1.5 £115,000

Period Average Price Paid (£) No. of Sales

Last year £237,013 22 Last 3 years £242,196 13 Last 5 years £241,508 111 Last 7 years £238,943 152 Average current value estimate: £264,927 Average current asking price: £284,362

Mid Devon District Council D|S|P Development & Viability Consultants

Sandford

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £358,069 £157 3.8 £546,667 Semi- £236,726 £262 3.4 £335,000 detached Terraced £198,365 - 2.8 £150,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £425,000 5 Last 3 years £291,902 28 Last 5 years £274,837 48 Last 7 years £281,933 66 Average current value estimate: £273,400 Average current asking price: £447,067

Silverton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £386,576 £243 4 £527,500 Semi- £233,745 £269 3.1 £216,090 detached Terraced £186,095 £163 2.6 £208,409 Flats £147,255 - 2.3 £114,667

Period Average Price Paid (£) No. of Sales

Last year £302,302 28 Last 3 years £283,972 71 Last 5 years £269,038 129 Last 7 years £260,455 178 Average current value estimate: £260,043 Average current asking price: £308,341

Mid Devon District Council D|S|P Development & Viability Consultants

Thorverton

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £469,734 £214 3.9 £434,167 Semi- £238,662 - 3.4 £211,750 detached Terraced £213,585 - 2.7 £201,667 Flats £120,383 - 2 -

Period Average Price Paid (£) No. of Sales

Last year £352,571 14 Last 3 years £317,375 34 Last 5 years £299,395 50 Last 7 years £302,935 66 Average current value estimate: £323,006 Average current asking price: £325,990

Uffculme

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £284,916 £207 3.8 £235,829 Semi- £211,007 £187 3.1 £184,384 detached Terraced £161,722 £176 2.7 £157,550 Flats £87,063 - 1 £257,475

Period Average Price Paid (£) No. of Sales

Last year £199,719 39 Last 3 years £199,940 113 Last 5 years £193,735 192 Last 7 years £197,556 279 Average current value estimate: £218,765 Average current asking price: £376,380

Mid Devon District Council D|S|P Development & Viability Consultants

Westleigh

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £340,002 £150 4.1 £209,666 Semi- £198,047 - 3.1 £230,000 detached Terraced £155,103 - 2.8 £120,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £195,800 5 Last 3 years £220,813 19 Last 5 years £226,700 27 Last 7 years £228,618 37 Average current value estimate: £265,001 Average current asking price: £418,119

Willand

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £272,833 £188 3.8 £259,800 Semi- £177,347 £201 2.8 £162,091 detached Terraced £146,049 - 2.6 £142,278 Flats £106,712 - 1.3 £113,000

Period Average Price Paid (£) No. of Sales

Last year £214,789 55 Last 3 years £211,609 191 Last 5 years £208,484 297 Last 7 years £207,647 417 Average current value estimate: £220,001 Average current asking price: £237,723

Mid Devon District Council D|S|P Development & Viability Consultants

Yeoford

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £397,288 £241 4.1 £360,500 Semi- £250,663 - 3.3 £247,500 detached Terraced £202,898 £176 3.1 £250,000 Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £328,571 7 Last 3 years £302,633 18 Last 5 years £284,797 30 Last 7 years £281,876 44 Average current value estimate: £336,729 Average current asking price: £771,650

Zeal Monachorum

Avg. Property Avg. £ per Avg. # Avg. £ paid current type sq. ft. beds (last 12m) value Detached £365,753 £221 3.5 £300,000 Semi- £212,445 - 3.1 - detached Terraced £159,855 - 2.5 - Flats - - - -

Period Average Price Paid (£) No. of Sales

Last year £300,000 2 Last 3 years £261,697 17 Last 5 years £259,435 28 Last 7 years £274,883 37 Average current value estimate: £310,775 Average current asking price: £279,950

Note: No entries for the following villages due to lack of data; Brickleigh, Chevithorne, Cover Hill, Craddock, Kennerleigh, Knowle, Marchard Bishop, Oakford Bridge, Stockleigh English, Stockleigh Pomeroy and Upton Hellions.

Mid Devon District Council D|S|P Development & Viability Consultants

Zoopla Analysis The table below is a quick analysis of the Zoopla ‘Average Current Values Estimate’ data above, which has been sorted to represent a values hierarchy of the District. Small rural villages have been excluded. Average Current Value Settlement Estimate Huntsham £452,829 Hockworthy £452,676 Cadeleigh £413,262 Cove £384,433 Holcombe Rogus £382,311 Colebrook £378,171 Cheriton Bishop £355,016 Coleford £340,483 Down St Mary £338,870 Yeoford £336,729 Ashill £329,735 Oakford £327,195 Thorverton £323,006 Kentisbeare £320,677 Newton St Cyres £316,707 Coldridge £311,625 Zeal Monacharum £310,775 Puddington £302,448 Chawleigh £296,099 Cheiton Fitzpaine £286,730 Bampton £286,023 Culmstock £284,266 Burlescombe £273,400 Sandford £273,400 Halberton £272,815 Westleigh £265,001 Sampford Peverell £264,927 Hemyock £261,963 Silverton £260,043 Tiverton £249,131 Bradninch £240,786 Cullompton £235,762 Crediton £229,266 Lapford £224,519 Willand £220,001 Uffculme £218,765 Copplestone £209,238 Bow £207,387

Mid Devon District Council D|S|P Development & Viability Consultants

New Build Properties for Sale – March 2014

Source: DSP research - www.rightmove.co.uk; various house builders’ & estate agents’ websites Price Price Price Price Size Developer Address Description Price per Less Less Plus (m2) / Agent m2 5% 10% 10%

Crediton Houses 4 Bed Sandford £325,000 128.0 £2,539 £2,412 £2,285 £2,793 Detached Queen 4 Bed £225,000 107.3 £2,098 £1,993 £1,888 £2,308 Elizabeth Drive Detached Average £275,000 117.6 £2,318 £2,203 £2,087 £2,550

Cullompton Flats 2 Bed Flat £142,950 62.7 £2,280 £2,166 £2,052 £2,508 David Tiverton Road 2 Bed Flat £127,500 56.5 £2,257 £2,144 £2,031 £2,482 Wilson 1 Bed Flat £109,950 45.0 £2,443 £2,321 £2,199 £2,688 Homes Average £126,800 54.7 £2,327 £2,210 £2,094 £2,559

Houses 4 Bed £330,000 116.9 £2,823 £2,682 £2,541 £3,105 Detached 4 Bed £304,950 112.5 £2,710 £2,575 £2,439 £2,981 Detached 3 Bed Semi £215,000 95.2 £2,259 £2,146 £2,033 £2,485 4 Bed Terrace £214,950 102.4 £2,099 £1,994 £1,889 £2,309 David Knowle Lane 3 Bed Semi £213,950 88.3 £2,423 £2,302 £2,181 £2,665 Wilson Homes 4 Bed Terrace £209,950 102.4 £2,050 £1,948 £1,845 £2,255 3 Bed Terrace £203,000 78.4 £2,589 £2,460 £2,330 £2,848 3 Bed Terrace £197,000 78.4 £2,513 £2,387 £2,261 £2,764

3 Bed Terrace £194,950 75.0 £2,599 £2,469 £2,339 £2,859

4 Bed Semi £199,950 110.0 £1,818 £1,727 £1,636 £2,000 Barratt Tiverton Road 3 Bed Semi £172,950 82.0 £2,109 £2,004 £1,898 £2,320 3 Bed Homes £155,000 78.6 £1,972 £1,873 £1,775 £2,169 Detached Average £217,638 93.34 £2,330 £2,214 £2,097 £2,563

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Tiverton Flats 2 Bed £137,500 75.2 £1,828 £1,737 £1,646 £2,011 Maisonette 2 Bed £132,500 69.3 £1,912 £1,816 £1,721 £2,103 Greenslade Maisonette Phoenix Lane Taylor 2 Bed £127,500 65.0 £1,962 £1,863 £1,765 £2,158 Hunt Maisonette 1 Bed £117,500 50.0 £2,350 £2,233 £2,115 £2,585 Maisonette Bampton Devonshire 2 Bed Flat £124,950 62.1 £2,012 £1,911 £1,811 £2,213 Street Homes Average £127,990 64.3 £2,013 £1,912 £1,812 £2,214

Houses 4 Bed £475,000 122.3 £3,884 £3,690 £3,496 £4,272 Jackson St Aubyns Rise, Detached Stopps & Exeter Road 3 Bed £335,000 97.8 £3,425 £3,254 £3,083 £3,768 Staff Detached 4 Bed £219,950 125.3 £1,756 £1,668 £1,580 £1,931 Detached 3 Bed Semi £179,995 94.5 £1,905 £1,809 £1,714 £2,095 Devonshire Belmont Road 3 Bed Terrace £172,950 92.1 £1,878 £1,784 £1,690 £2,066 Homes 3 Bed Terrace £164,950 89.9 £1,835 £1,743 £1,651 £2,018

2 Bed Terrace £142,950 75.1 £1,903 £1,808 £1,713 £2,094

Halberton, 4 Bed £379,000 152.0 £2,494 £2,370 £2,245 £2,744 Tiverton Detached Average £258,724 106.12 £2,385 £2,266 £2,146 £2,623

Bampton Houses 3 Bed £265,950 88.6 £3,000 £2,850 £2,700 £3,300 Detached

4 Bed Terrace £250,000 99.2 £2,520 £2,394 £2,268 £2,772 Devonshire School Close 4 Bed Terrace £247,000 99.2 £2,490 £2,365 £2,241 £2,739 Homes

3 Bed Terrace £229,950 83.1 £2,767 £2,629 £2,490 £3,044 2 Bed Terrace £164,950 68.4 £2,412 £2,291 £2,170 £2,653 2 Bed Terrace £162,950 68.4 £2,382 £2,263 £2,144 £2,621 Average £220,133 84.49 £2,595 £2,465 £2,336 £2,855

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Silverton Houses 2 Bed Hall & £220,000 78.4 £2,806 £2,666 £2,526 £3,087 Detached Scott 2 Bed £159,950 50.2 £3,186 £3,027 £2,868 £3,505 Maisonette Robert 2 Bed Williams Silverton £149,950 50.2 £2,987 £2,838 £2,688 £3,286 Maisonette 2 Bed £139,950 48.3 £2,898 £2,753 £2,608 £3,187 Maisonette Hall & 2 Bed Scott £164,950 68.4 £2,412 £2,291 £2,170 £2,653 Maisonette Average £166,960 59.10 £2,858 £2,715 £2,572 £3,143

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Pre-owned Vs New Build Analysis

The following table shows the comparison between the pre-owned Rightmove research and the new build values. Note: New build values are only compared with the corresponding settlements in the Rightmove research.

Pre-owned vs New Build - by settlement (£ per sq. m)

New Settlement Pre-owned* Build** Crediton £2,340 £2,318 Cullompton £2,139 £2,330 Tiverton £2,031 £2,242 Bampton £2,760 £2,595 Silverton £2,648 £2,858 Average: £2,384 £2,469 *'All properties' ** - Asking price- Combined average of both flats and houses

Pre-owned vs New Build Analysis £3,000

£2,500

£2,000

£1,500

£1,000

£500

£0 Crediton Cullompton Tiverton Bampton Silverton

Pre-owned* New Build**

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New Build Research (Update June 2014)

Address Description Price Size Price Price Price Price Developer / (m2) per Less Less Plus Agent m2 5% 10% 10% Crediton Houses Lauder 4 Bed £372,750 140.0 £2,663 £2,529 £2,396 £2,929 Persimmon Mews Detached Homes Lauder 4 Bed £372,750 140.0 £2,663 £2,529 £2,396 £2,929 Persimmon Mews Detached Homes Lauder 4 Bed £357,000 135.0 £2,644 £2,512 £2,380 £2,909 Persimmon Mews Detached Homes Lauder 4 Bed £357,000 135.0 £2,644 £2,512 £2,380 £2,909 Persimmon Mews Detached Homes Lauder 4 Bed £309,750 114.0 £2,717 £2,581 £2,445 £2,989 Persimmon Mews Detached Homes Lauder 4 Bed £309,750 114.0 £2,717 £2,581 £2,445 £2,989 Persimmon Mews Detached Homes Lauder 4 Bed £299,250 115.0 £2,602 £2,472 £2,342 £2,862 Persimmon Mews Detached Homes Lauder 4 Bed £299,250 115.0 £2,602 £2,472 £2,342 £2,862 Persimmon Mews Detached Homes Average £334,688 126 £2,657 £2,524 £2,391 £2,922

Cullompton Flats Tiverton 2 Bed Flat £127,500 56.0 £2,277 £2,163 £2,049 £2,504 Millwood Road Homes Tiverton 2 Bed Flat £127,500 67.0 £1,903 £1,808 £1,713 £2,093 Millwood Road Homes Tiverton 2 Bed Flat £127,500 56.0 £2,277 £2,163 £2,049 £2,504 Millwood Road Homes Tiverton 2 Bed Flat £127,500 63.0 £2,024 £1,923 £1,821 £2,226 Millwood Road Homes Tiverton 2 Bed Flat £109,950 44.0 £2,499 £2,374 £2,249 £2,749 Millwood Road Homes Tiverton 2 Bed Flat £109,950 58.0 £1,896 £1,801 £1,706 £2,085 Millwood Road Homes Average £121,650 57.3 £2,146 £2,039 £1,931 £2,360

Houses Knowle Lane 4 Bed £330,000 126.0 £2,619 £2,488 £2,357 £2,881 David Wilson Detached Homes Knowle Lane 3 Bed £218,500 78.0 £2,801 £2,661 £2,521 £3,081 David Wilson Terrace Homes

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Address Description Price Size Price Price Price Price Developer / (m2) per Less Less Plus Agent m2 5% 10% 10% Knowle Lane 4 Bed £217,950 102.0 £2,137 £2,030 £1,923 £2,350 David Wilson Terrace Homes Knowle Lane 4 Bed £217,950 102.0 £2,137 £2,030 £1,923 £2,350 David Wilson Terrace Homes Knowle Lane 3 Bed £218,500 78.0 £2,801 £2,661 £2,521 £3,081 David Wilson Terrace Homes Knowle Lane 3 Bed £198,950 78.0 £2,551 £2,423 £2,296 £2,806 David Wilson Terrace Homes Knowle Lane 3 Bed £197,000 78.0 £2,526 £2,399 £2,273 £2,778 David Wilson Terrace Homes Tiverton 3 Bed Semi £175,950 81.0 £2,172 £2,064 £1,955 £2,389 Millwood Road Homes Tiverton 3 Bed Semi £172,950 81.0 £2,135 £2,028 £1,922 £2,349 Millwood Road Homes Tiverton 4 Bed £209,950 119.0 £1,764 £1,676 £1,588 £1,941 Millwood Road Detached Homes Forge Way 3 Bed Semi £169,950 92.8 £1,831 £1,740 £1,648 £2,014 Seddons Average £211,605 92.35 £2,316 £2,200 £2,084 £2,547

Tiverton Flats Phoenix 2 Bed Flat £132,500 64.0 £2,070 £1,967 £1,863 £2,277 Greensalde Lane Taylor Hunt Phoenix 2 Bed Flat £127,500 64.0 £1,992 £1,893 £1,793 £2,191 Greensalde Lane Taylor Hunt Phoenix 2 Bed Flat £127,500 64.0 £1,992 £1,893 £1,793 £2,191 Greensalde Lane Taylor Hunt Bampton 2 Bed Flat £124,950 58.2 £2,146 £2,039 £1,932 £2,361 Devonshire Street Homes Average £128,113 62.6 £2,050 £1,948 £1,845 £2,255

Houses Exeter Hill 6 Bed £675,000 226.0 £2,987 £2,837 £2,688 £3,285 Staggs Detached Tumbling 4 Bed Semi £255,000 121.8 £2,094 £1,989 £1,884 £2,303 Greensalde Field Lane Taylor Hunt Tumbling 4 Bed Semi £255,000 121.8 £2,094 £1,989 £1,884 £2,303 Greensalde Field Lane Taylor Hunt Tumbling 3 Bed Semi £225,000 99.3 £2,266 £2,153 £2,039 £2,492 Greensalde Field Lane Taylor Hunt Tumbling 3 Bed Semi £225,000 99.3 £2,266 £2,153 £2,039 £2,492 Greensalde Field Lane Taylor Hunt

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Address Description Price Size Price Price Price Price Developer / (m2) per Less Less Plus Agent m2 5% 10% 10% Tumbling 3 Bed Semi £225,000 99.3 £2,266 £2,153 £2,039 £2,492 Greensalde Field Lane Taylor Hunt Tumbling 3 Bed Semi £225,000 99.3 £2,266 £2,153 £2,039 £2,492 Greensalde Field Lane Taylor Hunt Tumbling 3 Bed Semi £225,000 99.3 £2,266 £2,153 £2,039 £2,492 Greensalde Field Lane Taylor Hunt Bampton 3 Bed £164,950 64.6 £2,553 £2,426 £2,298 £2,809 Devonshire Street Terrace Homes Bampton 2 Bed £142,950 62.1 £2,302 £2,187 £2,072 £2,532 Devonshire Street Terrace Homes Belmont 3 Bed £154,950 60.1 £2,578 £2,449 £2,320 £2,836 Devonshire Road Terrace Homes Belmont 2 Bed £134,950 58.7 £2,299 £2,184 £2,069 £2,529 Devonshire Road Terrace Homes Average £242,317 101 £2,353 £2,235 £2,118 £2,588

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Sheltered Housing Research (April 2014)

Price Price Price Price per Price Developer / Address Description Price (£) Size Less Less Plus sq.m Less 5% Agent 20% 10% 10% New Build 1 Bed Flat £221,950 45 £4,932 £3,946 £4,439 £4,686 £5,425 McCarthy & Bulford, Wellington 2 Bed Flat £296,950 59 £5,076 £4,061 £4,568 £4,822 £5,584 Stone 1 Bed Flat £299,950 53 £5,628 £4,502 £5,065 £5,346 £6,190 McCarthy & Mount Street, Taunton 2 Bed Flat £359,950 79 £4,556 £3,645 £4,101 £4,329 £5,012 Stone Langford Road, 1 Bed Flat £165,950 45 £3,688 £2,950 £3,319 £3,503 £4,057 Churchill Honiton 2 Bed Flat £205,950 58 £3,533 £2,826 £3,179 £3,356 £3,886 Average: £258,450 56.52 £4,569 £3,655 £4,112 £4,340 £5,026

Average Values Price per Price per Description Sold Price Size sq.m sq.m Less 5% 1 Bed Flat £229,283 47.8 £4,749 £4,512 2 Bed Flat £287,617 65.3 £4,388 £4,169

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Economic Context

Bank of England

The current official Bank Rate (Base Rate) has remained at 0.5% - since being reduced to that level in March 2009.

The Agent’s Summary of Business Conditions (March 2014) stated:

 Annual growth in the value and volume of retail sales had increased slightly over the past three months. Consumer services turnover growth had also edged higher.  The recovery in housing market activity had continued.  Investment intentions had continued to point to moderate growth in capital expenditure in the year ahead.  Turnover in business services had edged a little higher.  Manufacturing output for the domestic market had continued to grow steadily. Manufactured exports growth had increased.  Construction output growth had risen further.  Credit availability had continued to increase gradually and demand had edged higher.  Employment intentions over the next six months pointed to modest headcount growth. Recruitment difficulties had edged higher, and were marginally above normal.  Capacity utilisation had remained close to normal.  Labour costs per employee had continued to grow moderately.  Inflation in materials costs and imported finished goods prices had fallen further.  Output price inflation had edged lower for manufacturing companies, but had risen slightly for business services firms. Profitability had continued to improve overall.  Consumer price inflation had slowed further, particularly for goods.

Bank of England (Update June 2014)

The Agent’s Summary of Business Conditions (May 2014) stated:  Annual growth in retail sales values had been little changed and growth in consumer services turnover had edged higher.  Housing market transactions had risen strongly on a year earlier, though some contacts reported that the implementation of new rules resulting from the Mortgage

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Market Review appeared to have been associated with a slowing in mortgage approvals.  Investment intentions had increased, reflecting growing confidence in the strength of demand and, for some contacts, an improvement in the availability of finance.  Growth in business services turnover had remained strong, especially for professional and financial services.  Manufacturing output for the domestic market and for export had continued to grow at a steady pace.  Construction output had continued to grow strongly, driven by house building.  Corporate credit conditions had continued to improve.  Employment intentions had increased further, particularly in business services. Recruitment difficulties had remained slightly above normal.  Capacity utilisation had remained close to normal, though had risen a little further above that level in manufacturing.  Growth in total labour costs per employee had edged up further, remaining moderate.  Materials costs and imported finished goods prices had been little changed on a year earlier.  Output prices and profitability had continued to increase modestly.  Consumer price inflation had remained moderate, with services inflation having edged lower.

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Housing Market Context

Land Registry

The February 2014 Land Registry House Price Index Report (released 28th March 2014) provided the following information, in summary, in terms of market trends:

 “The February data shows a monthly price change of 0.7 per cent.

 The annual price change now stands at 5.3 per cent, bringing the average house price in England and Wales to £170,000.

 The number of property transactions has increased over the last year. From September to December 2012 there was an average of 58,195 sales per month. In the same months a year later, the figure was 75,318.”

The February 2014 report stated: -

For England Wales overall:  Annual change in average house prices 5.3% (positive)  Monthly change in average house prices 0.7% (positive)  Average price £170,000

For South West overall:  Annual change in average house prices 4.5% (positive)  Monthly change in average house prices 1% (positive)  Average price £178,108

For Devon overall:  Annual change in average house prices 2.3% (positive)  Monthly change in average house prices 0.5% (increase)  Average price £191,991

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This data indicates that Devon is outperforming the South West and England and Wales overall.

Source: www.landregistry.gov.uk

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Land Registry (Update June 2014)

The April 2014 Land Registry House Price Index Report (released 30th May 2014) provided the following information, in summary, in terms of market trends:

 The April data shows a monthly price change of 1.5 per cent.

 The annual price change now stands at 6.7 per cent, bringing the average house price in England and Wales to £172,069.

 The number of property transactions has increased over the last year. From November 2012 to February 2013 there was an average of 52,331 sales per month. In the same months a year later, the figure was 72,080.

The April 2014 report stated: -

For England Wales overall:  Annual change in average house prices 6.7% (positive)  Monthly change in average house prices 1.5% (positive)  Average price £172,069

For South West overall:  Annual change in average house prices 3.8% (positive)  Monthly change in average house prices 0.2% (positive)  Average price £178,918

For Devon overall:  Annual change in average house prices 3.5% (positive)  Monthly change in average house prices 0.5% (increase)  Average price £194,700 Source: www.landregistry.gov.uk

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Month Index Month Index Month Index Jan-07 309.68 Aug-10 303.17 Mar-14 302.2

Feb-07 310.63 Sep-10 303.12 April-14 303.6

Mar-07 314.01 Oct-10 303.5 Apr-07 315.7 Nov-10 302.93 May-07 317.18 Dec-10 302.01 Jun-07 319.9 Jan-11 300.61 Key: Jul-07 320.52 Feb-11 299.31 Yellow = Market Peak Blue = Market Trough Aug-07 323.06 Mar-11 298.68 Green = Current position Sep-07 324.85 Apr-11 299.03 Oct-07 326.02 May-11 298.35 This HPI data shows a 7.3% Nov-07 327.02 Jun-11 296.54 increase in values since the Dec-07 327.13 Jul-11 297.03 market trough in April 2009. Jan-08 327.58 Aug-11 294.76 Feb-08 327.87 Sep-11 295.66 Mar-08 327.3 Oct-11 295.8 Apr-08 326.85 Nov-11 294.02 May-08 324.94 Dec-11 293.36 Jun-08 320.1 Jan-12 293.16 Jul-08 317.14 Feb-12 292.64 Aug-08 313.57 Mar-12 291.25 Sep-08 307.82 Apr-12 292.63 Oct-08 306.28 May-12 291.94 Nov-08 299.52 Jun-12 291.92 Dec-08 292.15 Jul-12 292.82 Jan-09 287.11 Aug-12 292.53 Feb-09 280.34 Sep-12 293.62 Mar-09 279.09 Oct-12 294.58 Apr-09 277.28 Nov-12 295.66 May-09 277.39 Dec-12 295.24 Jun-09 278.03 Jan-13 294.11 Jul-09 280.96 Feb-13 292.5 Aug-09 282.89 Mar-13 292.35 Sep-09 284.94 Apr-13 293.54 Oct-09 288.14 May-13 293.27 Nov-09 290 Jun-13 293.72 Dec-09 292.12 Jul-13 294.99 Jan-10 294.26 Aug-13 295.45 Feb-10 295.14 Sep-13 295.94 Mar-10 296.67 Oct-13 296.99 Apr-10 300.23 Nov-13 296.81 May-10 301.69 Dec-13 297.29 Jun-10 302.65 Jan-14 297.92 Jul-10 303.24 Feb-14 299.3

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Office for National Statistics (ONS) – House Price Index (February 2014) NOTE: Previously published by the Department for Communities and Local Government (DCLG)

The latest UK house price index statistics (mix-adjusted) produced by the Office for National Statistics (ONS) were released on 15th April 2014

The key points from the release were:

 UK house prices increased by 9.1% in the year to February 2014, up from 6.8% in the year to January 2014.  House price annual inflation grew by 9.7% in England, 5.3% in Wales, 2.4% in Scotland and 2.8% in Northern Ireland.  House price growth is increasing strongly across most parts of the UK, with prices in London again showing the highest growth.  Annual house price increases in England were driven by rises in London (17.7%), the South East (8.0%) and the East of England (7.7%).  Excluding London and the South East, UK house prices increased by 5.8% in the 12 months to February 2014.  On a seasonally adjusted basis, average house prices increased by 1.9% between January and February 2014.  In February 2014, prices paid by first-time buyers were 10.5% higher on average than in February 2013. For owner-occupiers (existing owners), prices increased by 8.6% for the same period.

NOTE: The index is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders.

Source: www.ons.gov.uk

Office for National Statistics (ONS) – House Price Index (Update – March 2014) The May 2014 released update of the ONS UK house price index statistics (mix-adjusted) indicates the following:

 UK house prices increased by 8.0% in the year to March 2014, down from 9.2% in the year to February 2014.

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 House price annual inflation was 8.5% in England, 4.9% in Wales, 0.8% in Scotland and 0.3% in Northern Ireland.  House prices are increasing strongly across most parts of the UK, with prices in London again showing the highest growth.  Annual house price increases in England were driven by rises in London (17.0%), the East (6.6%) and the South East (6.1%).  Excluding London and the South East, UK house prices increased by 4.7% in the 12 months to March 2014.  On a seasonally adjusted basis, average house prices fell by 0.5% between February and March 2014.  In March 2014, prices paid by first-time buyers were 10.0% higher on average than in March 2013. For owner-occupiers (existing owners), prices increased by 7.2% for the same period. NOTE: The index is calculated using mortgage financed transactions that are collected via the Regulated Mortgage Survey by the Council of Mortgage Lenders.

Source: www.ons.gov.uk

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Other Property Market Reporting The residential property market is currently buoyant with average house prices growing by 10.9% nationally in the year to April (and more in London and the South East with an increase of 18.2% reported in London) according to the Nationwide in data published by Savills1. The same report also indicates that house prices have increased by 4.4% in the first four months of 2014 and the Halifax2 also reported a 3.9% rise in house prices in May 2014 alone (2.0% on the previous quarter). Prices are widely reported to increase significantly over the coming years with Savills forecasting potentially up to 29.4% increase to 2018 in the South West.

The Halifax House Price report indicates that house prices in the South West are 2.0 higher than the previous quarter; 8.2% on a year before with average prices stated to be £195,066.

1 Savills – Residential Property Focus Q2 2014 2 Halifax House Price Index May 2014 (Released 5th June 2014)

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RICS Residential Market Report (March 2014) Headline reads: “Sales hit six year high as activity spreads across the country”

 “Sales per surveyor climb to the highest level since February 2008

 New instructions decline for the third month running underpinning the upward move in prices

 Perceived LTV ratios for first time buyers continue to creep upwards.”

“The March 2014 RICS Residential Housing Market Survey results show the trends which began to emerge mid-2013 remain firmly in place, as house prices continue along their upward trajectory. The imbalance between supply and demand is proving to be an enduring feature and still the main catalyst behind house price appreciation. Indeed, while new buyer enquiries improved at a pretty similar pace between March and February, new instructions fell marginally for the third consecutive month, further compounding the disparity. This is placing greater upward pressure on the price of residential property, with the national balance picking up from February’s already elevated level.

The strongest gains were again recorded in London and the South East, although all regions now stand comfortably in positive territory with eight of the twelve areas recording a net balance in excess of 40. Significantly, this marks the eleventh month in succession in which an increase in house prices has been registered at the headline level and is now the longest period of consistent growth since the onset of the financial crisis. This trend looks set to be sustained, in the near term at least, with surveyors expecting little respite anytime soon. Indeed, both the three and twelve month price expectations series remained broadly unchanged from their previous readings, coming in at +48 and +77 respectively.

Looking further ahead, contributors now anticipate that house price inflation will be around 6% per annum, on average, over the next five years. Understandably, given current market conditions, agreed sales continue to rise with the pace of headline growth experiencing a modest uptick over the month. Interestingly however, sales activity was flat across London and the South East but relatively firm within all other regions. This may be a reflection of the lack of supply coming onto agents’ books in these two areas in recent months. Notwithstanding the lack of new instructions, average stock per surveyor (at the headline level) did pick up this month, but this is likely to reflect more of a technical rebound following last month’s unusually large fall rather than a fundamentally driven shift in supply.

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Meanwhile, the sales-to-stock ratio (which measures the degree of tightness in the market) fell slightly to 37%, although this is still the second highest figure recorded post-2008. Nevertheless, sales are still expected to see material growth throughout all areas of the country going forward. As such, the three and twelve month sales expectation balances of +31 and +64 respectively are indicative of genuine confidence in the sector.

The easier credit environment at present is supporting the improvement in activity levels. In particular, first-time buyers appear to be reaping the benefits with the average ‘perceived’ loan-to-value ratio currently offered in the market edging upwards to just under 86% (based on a three month moving average).

Meanwhile, in the lettings market, tenant demand continues to rise even if at a more modest rate than last month (on a non-seasonally adjusted basis). Alongside this, landlord instructions remained flat as has generally been the case since October last year. As a result, rents are expected to see further gains over the next three months at the headline level.”

The extracts below provide views from surveyors as to market conditions from the South West region.

“March didn’t quite see the high numbers of sales achieved during Feb (more than 1 per day), but average selling price increased to £275,000 (+15%). Noticeably more active buyers around between £500k -£1m” Taunton

“Flooding slowed sales and viewing.” Exeter

“Confidence has returned to the market and with price rises now generally expected, the market for selling is the best it has been since the end of 2007” Bideford

RICS Residential Market Report (Update - April 2014 – Released May 2014) Headline reads: “Demand Supply Imbalance Continues to Push Prices Higher”  Supply contracted again in April as demand continued to grow  Prices expectations remain firm in all parts of the UK  Instructions to let property remain broadly flat for the third consecutive quarter, supporting rental expectations”

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“The April 2014 RICS Residential Market Survey shows a continuation of the broad pattern established in the second half of 2013 with house prices remaining on a firmly upward trend. The imbalance between demand and supply continues to be a key driver of price appreciation with growth in new buyer enquiries remaining firmly positive at the headline level while new instructions contracted slightly for the fourth consecutive month.

This dearth of new instructions appears quite widespread with nine of the twelve regions that we monitor seeing a decline in the number of new sellers coming to market over the course of the month. Growth in new buyer enquiries remains firmly positive across all parts of the UK and price growth is correspondingly diffuse. While prices are now rising across all regions, East Anglia and the South East are reported to have experienced the broadest rises over the last 3 months.

This trend in price growth looks set to be sustained with surveyors expecting prices to continue rising across all regions over the coming 12 months. Indeed, both the 3 and 12 month price expectations series remain broadly unchanged from their March level at 48 and 72 respectively. Longer term price expectations also remain almost unchanged with respondents envisaging average price growth of 6% per annum over the coming 5 years.

Agreed sales continue to rise steadily with a net balance of 26% more respondents reporting increasing sales volumes. As would be expected, this is also a trend that is common to all regions and respondents remain confident in further growth in activity levels with the 3 and 12 month sales expectations series standing at 33 and 60 respectively.

The growth in demand that is feeding this stronger market is being supported by the more favourable credit conditions that have increased the supply of mortgage finance. This more accommodative lending environment is benefiting all buyer types with surveyors reporting ‘perceived’ LTV ratios to be rising across the spectrum of borrowers with first time buyers experiencing the largest increase in LTV’s over the year to April (from 82% to 86% on a three month average basis). LTV’s for existing owner occupiers and buy to let borrowers, on the other hand, have increased by between 1-2% over the year and stand at 78% and 74% respectively.

The average number of sales per surveyor crept up marginally in April to a post-crisis high while the average number of stocks on surveyor’s books decreased slightly. This led the

Mid Devon District Council D|S|P Development & Viability Consultants sales-to-stock ratio (measuring the degree of the market slack) to tick up marginally to 38%; the second highest post crisis reading.

Tenant demand has grown more slowly over the last three quarters as the sales market has rebounded. However, growth is still positive in all but the North West and East Anglia regions. New landlord instructions have remained flat at the headline level since mid-2013 and this has kept the rent expectations series in positive territory. Respondents now expect growth in rental prices of just under 2% over the coming 12 months”.

Mid Devon District Council D|S|P Development & Viability Consultants

Residential Values Summary

Overall, for the purposes of this strategic overview of development viability for CIL, we decided to focus our appraisals around the following values range - represented by what we refer to as Values Levels 1 to 6 (1 being the lowest level trialled; 6 the highest). These were aligned to the areas in which these value levels are found – see below.

Open Market VL1 VL2 VL3 VL4 VL5 VL6 VL7+ Value Rural Mid Devon Bampton Upper MDDC+ Location (Range) (Tiverton, Cullumpton, Lowest MDDC Crediton) 1 Bed Flat £90,000 £101,250 £112,500 £123,750 £135,000 £146,250 £157,500 2 Bed Flat £120,000 £135,000 £150,000 £165,000 £180,000 £195,000 £210,000 2 Bed House £150,000 £168,750 £187,500 £206,250 £225,000 £243,750 £262,500 3 Bed House £190,000 £213,750 £237,500 £261,250 £285,000 £308,750 £332,500 4 Bed House £250,000 £281,250 £312,500 £343,750 £375,000 £406,250 £437,500 Value House £2,000 £2,250 £2,500 £2,750 £3,000 £3,250 £3,500 (£/m2) As in all areas, values are always mixed to some extent within particular localities and for particular sites.

The table above assumes the following dwelling gross internal floor areas (these are purely for the purpose of the above market dwelling price illustrations):

1-bed flat at 50 sq. m (543 sq. ft.) 3-bed house at 95 sq. m (1032 sq. ft.)

2-bed flat at 60 sq. m (652 sq. ft.) 4-bed house at 125 sq. m (1358 sq. ft.)

2-bed house at 75 sq. m (815 sq. ft.)

Mid Devon District Council D|S|P Development & Viability Consultants

Commercial Market, Rents & Yields (information as available)

Sources used:  EGi (Estates Gazette Interactive) based on searches for (TBC) – EGi reporting extracts follow these sections – all detail not quoted here (Source: EGi – www.egi.co.uk – subscription based Commercial Property Intelligence resource used and informed by a wide range of Agents and other property firms).

 Valuation Office Agency (VOA) Rating List

 Others – RICS market information; property advertised; web-based research

 Any available local soundings – indications / examples

Mid Devon District Council D|S|P Development & Viability Consultants

Commercial Property Data sourced from the Valuation Office Agency (VOA) Rating List – Rental indications

VOA research based on main settlement areas, comprising two principal town centres (Nuneaton and Bedworth) as described in the Council’s ‘Preferred Options’ document.

The following types of commercial property were researched, only on properties of >100m 2:

 Shops / premises  Offices  Retail Warehousing  Industrial Warehousing  Supermarkets  Convenience stores

Note: Land values and ‘other’ commercial property types, such as hotels and care homes are considered later.

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Shops and Premises

£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications Crediton 25, HIGH STREET, CREDITON, SHOP AND 104.71 £250 £9,400 £89.77 DEVON, EX17 3AH PREMISES THE STORES, LAPFORD, SHOP AND 106.58 £75 £3,100 £29.09 CREDITON, DEVON, EX17 6PZ PREMISES 40, HIGH STREET, CREDITON, SHOP AND 107.01 £200 £9,600 £89.71 DEVON, EX17 3JP PREMISES 22, HIGH STREET, CREDITON, SHOP AND 108.1 £250 £10,000 £92.51 DEVON, EX17 3AH PREMISES 20, HIGH STREET, CREDITON, SHOP AND 120.13 £250 £13,250 £110.30 DEVON, EX17 3AH PREMISES 96, HIGH STREET, CREDITON, SHOP AND 126.85 £150 £5,400 £42.57 DEVON, EX17 3LB PREMISES 129, HIGH STREET, CREDITON, SHOP AND 128.5 £260 £13,250 £103.11 DEVON, EX17 3LQ PREMISES 136, HIGH STREET, CREDITON, SHOP AND 128.7 £180 £11,500 £89.36 DEVON, EX17 3DU PREMISES 2, UNION ROAD, CREDITON, STORE AND 131.3 £115 £7,100 £54.07 DEVON, EX17 3AN PREMISES 34, HIGH STREET, CREDITON, SHOP AND 131.91 £200 £7,600 £57.62 DEVON, EX17 3JP PREMISES 86, HIGH STREET, CREDITON, SHOP AND 137.97 £150 £7,200 £52.19 DEVON, EX17 3LB PREMISES DOWNES HOME FARM, SHOP, CAFE DOWNES, CREDITON, DEVON, AND 138.42 £65 £8,900 £64.30 EX17 3PL PREMISES 9, MARKET STREET, CREDITON, SHOP AND 138.9 £160 £9,800 £70.55 DEVON, EX17 2AJ PREMISES 16, HIGH STREET, CREDITON, SHOP AND 143.61 £250 £16,000 £111.41 DEVON, EX17 3AG PREMISES 10, HIGH STREET, CREDITON, SHOP AND 162.33 £250 £19,250 £118.59 DEVON, EX17 3AE PREMISES 24, HIGH STREET, CREDITON, SHOP AND 162.38 £250 £8,400 £51.73 DEVON, EX17 3AH PREMISES 112, HIGH STREET, CREDITON, SHOP AND 180.79 £190 £6,200 £34.29 DEVON, EX17 3LF PREMISES 21, HIGH STREET, CREDITON, SHOP AND 187 £250 £12,500 £66.84 DEVON, EX17 3AH PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications THORNS FARM SHOP, SHOP AND STOCKLEIGH POMEROY, 190.02 £60 £8,800 £46.31 PREMISES CREDITON, DEVON, EX17 4BH 128, HIGH STREET, CREDITON, SHOP AND 191.1 £260 £11,000 £57.56 DEVON, EX17 3LQ PREMISES SPAR COPPLESTONE, SHOP AND COPPLESTONE, CREDITON, 204.86 £60 £10,250 £50.03 PREMISES DEVON, EX17 5NH 94-95, HIGH STREET, CREDITON, SHOP AND 243.38 £150 £12,750 £52.39 DEVON, EX17 3LB PREMISES OLD TOWN HALL, HIGH STREET, SHOP AND 247.99 £190 £14,000 £56.45 CREDITON, DEVON, EX17 3LF PREMISES BRIDGE STORES, BOW, SHOP AND 279.66 £75 £15,250 £54.53 CREDITON, DEVON, EX17 6LA PREMISES 36, HIGH STREET, CREDITON, SHOP AND 281.42 £200 £27,250 £96.83 DEVON, EX17 3JP PREMISES 115, HIGH STREET, CREDITON, SHOP AND 338.1 £250 £13,000 £38.45 DEVON, EX17 3LG PREMISES 28, HIGH STREET, CREDITON, SHOP AND 392 £250 £27,750 £70.79 DEVON, EX17 3AH PREMISES 126, HIGH STREET, CREDITON, SHOP AND 399.77 £260 £29,250 £73.17 DEVON, EX17 3LQ PREMISES 135, HIGH STREET, CREDITON, SHOP AND 529.2 £230 £32,250 £60.94 DEVON, EX17 3DU PREMISES 119-120, HIGH STREET, SHOP AND 738.25 £250 £37,500 £50.80 CREDITON, DEVON, EX17 3LG PREMISES MORRISONS, MILL STREET, LARGE 2590.5 £135 £347,500 £134.14 CREDITON, DEVON, EX17 1EY FOODSTORE Average: 292.63 £189 £24,677 £70.01 Cullompton 48, FORE STREET, CULLOMPTON, SHOP AND 100.8 £185 £6,000 £59.52 DEVON, EX15 1LF PREMISES 10, FORE STREET, CULLOMPTON, SHOP AND 101.7 £145 £8,000 £78.66 DEVON, EX15 1JL PREMISES 4, HIGH STREET, CULLOMPTON, SHOP AND 108.5 £180 £8,000 £73.73 DEVON, EX15 1AA PREMISES 52, FORE STREET, CULLOMPTON, SHOP AND 113.9 £185 £7,700 £67.60 DEVON, EX15 1LB PREMISES 2, THE SQUARE, UFFCULME, SHOP AND 118 £95 £6,000 £50.85 CULLOMPTON, DEVON, EX15 3AA PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications 3, FORE STREET, CULLOMPTON, SHOP AND 118.63 £185 £8,800 £74.18 DEVON, EX15 1JW PREMISES PHARMACY AT CULM VALLEY PHARMACY INTERGRATED CENTRE FOR AND 119 £350 £42,000 £352.94 HEALTH, WILLAND ROAD, PREMISES CULLOMPTON, DEVON, EX15 1EF 2, EXETER HILL, CULLOMPTON, SHOP AND 120.03 £110 £7,700 £64.15 DEVON, EX15 1DH PREMISES COMMUNITY 18, THE SQUARE, UFFCULME, ROOMS AND 120.79 £95 £4,700 £38.91 CULLOMPTON, DEVON, EX15 3AA PREMISES 23, STATION ROAD, HEMYOCK, SHOP AND 126.94 £90 £8,100 £63.81 CULLOMPTON, DEVON, EX15 3SE PREMISES 11/13, HIGH STREET, SHOP AND 135.47 £180 £13,500 £99.65 CULLOMPTON, DEVON, EX15 1AB PREMISES 7, HIGH STREET, CULLOMPTON, STORE AND 143.11 £180 £5,300 £37.03 DEVON, EX15 1AB PREMISES HEMYOCK POST OFFICE, SHOP POST HEMYOCK, CULLOMPTON, OFFICE AND 146.1 £90 £7,200 £49.28 DEVON, EX15 3QW PREMISES 23, FORE STREET, CULLOMPTON, SHOP AND 147.5 £185 £16,750 £113.56 DEVON, EX15 1JS PREMISES 11, COMMERCIAL ROAD, SHOP AND UFFCULME, CULLOMPTON, 156.5 £95 £9,200 £58.79 PREMISES DEVON, EX15 3EB 8, HIGH STREET, CULLOMPTON, SHOP AND 172.32 £180 £9,000 £52.23 DEVON, EX15 1AA PREMISES 1, STATION ROAD, WILLAND, SHOP AND 185.18 £100 £9,000 £48.60 CULLOMPTON, DEVON, EX15 2PR PREMISES 9, HIGH STREET, CULLOMPTON, SHOP AND 188.6 £180 £14,500 £76.88 DEVON, EX15 1AB PREMISES 106-110, EXETER ROAD, SHOP AND 210.27 £90 £12,000 £57.07 CULLOMPTON, DEVON, EX15 1DZ PREMISES WEST COUNTRY CAR SALES, SHOP AND WILLAND ROAD, CULLOMPTON, 216.9 £70 £10,000 £46.10 PREMISES DEVON, EX15 1QP MOLE VALLEY FARMERS, SHOP AND HONITON ROAD, CULLOMPTON, 2399.37 £26 £70,000 £29.17* PREMISES DEVON, EX15 1NU Average: 249.98 £143 £13,498 £75.84

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications Tiverton 3, BAMPTON STREET, TIVERTON, SHOP AND 100.11 £360 £9,500 £94.90 DEVON, EX16 6AA PREMISES 11, MARKET WALK, TIVERTON, SHOP AND 100.4 £320 £14,250 £141.93 DEVON, EX16 6BL PREMISES 3, FORE STREET, TIVERTON, SHOP AND 100.6 £330 £13,000 £129.22 DEVON, EX16 6LN PREMISES 21, BROOK STREET, BAMPTON, SHOP AND 104.18 £100 £3,750 £36.00 TIVERTON, DEVON, EX16 9LU PREMISES 50, BAMPTON STREET, SHOP AND 105.8 £240 £8,300 £78.45 TIVERTON, DEVON, EX16 6AH PREMISES 8, GOLD STREET, TIVERTON, SHOP AND 106 £320 £14,000 £132.08 DEVON, EX16 6PZ PREMISES 35, FORE STREET, TIVERTON, SHOP AND 107.8 £460 £26,250 £243.51 DEVON, EX16 6LZ PREMISES 9, BRIDGE STREET, TIVERTON, SHOP AND 107.92 £140 £6,900 £63.94 DEVON, EX16 5LY PREMISES 4, NEW PARADE, ANSTEY SHOP AND CRESCENT, TIVERTON, DEVON, 109.4 £80 £6,100 £55.76 PREMISES EX16 4JP 18/20A, BAMPTON STREET, SHOP AND 109.94 £250 £13,500 £122.79 TIVERTON, DEVON, EX16 6AA PREMISES 25, GOLD STREET, TIVERTON, SHOP AND 114.6 £210 £8,600 £75.04 DEVON, EX16 6QB PREMISES 53, BAMPTON STREET, SHOP AND 115.22 £170 £16,500 £143.20 TIVERTON, DEVON, EX16 6AL PREMISES 29, BAMPTON STREET, SHOP AND 116.61 £310 £15,500 £132.92 TIVERTON, DEVON, EX16 6AH PREMISES 33, FORE STREET, TIVERTON, SHOP AND 117.4 £460 £15,500 £132.03 DEVON, EX16 6LZ PREMISES 52, BAMPTON STREET, SHOP AND 120.1 £240 £8,300 £69.11 TIVERTON, DEVON, EX16 6AH PREMISES 2, WILLIAM STREET, TIVERTON, SHOP AND 121.57 £170 £19,750 £162.46 DEVON, EX16 6BJ PREMISES 5, BAMPTON STREET, TIVERTON, SHOP AND 122.6 £350 £19,250 £157.01 DEVON, EX16 6AA PREMISES 40, GOLD STREET, TIVERTON, SHOP AND 123.28 £150 £8,400 £68.14 DEVON, EX16 6PY PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications 3A, SMITHYS WAY, SAMPFORD SHOP AND PEVERELL, TIVERTON, DEVON, 123.74 £70 £6,900 £55.76 PREMISES EX16 7FB 38, BAMPTON STREET, SHOP AND 123.9 £310 £15,500 £125.10 TIVERTON, DEVON, EX16 6AH PREMISES 38, FORE STREET, TIVERTON, SHOP AND 129.6 £460 £19,250 £148.53 DEVON, EX16 6LD PREMISES 41, BAMPTON STREET, SHOP AND 130 £240 £15,500 £119.23 TIVERTON, DEVON, EX16 6AH PREMISES 6, FORE STREET, TIVERTON, SHOP AND 131.7 £235 £9,000 £68.34 DEVON, EX16 6LH PREMISES 16, FORE STREET, TIVERTON, SHOP AND 135.17 £430 £27,000 £199.75 DEVON, EX16 6LH PREMISES 1, BRIDGE STREET, TIVERTON, SHOP AND 137.75 £140 £9,400 £68.24 DEVON, EX16 5LY PREMISES 4/5, PHOENIX LANE, TIVERTON, SHOP AND 141.45 £300 £22,750 £160.83 DEVON, EX16 6LU PREMISES GND FLR 18, NEWPORT STREET, SHOP AND 142.83 £150 £7,600 £53.21 TIVERTON, DEVON, EX16 6NL PREMISES 24, BAMPTON STREET, SHOP AND 144.5 £320 £9,300 £64.36 TIVERTON, DEVON, EX16 6AA PREMISES 143A, CHAPEL STREET, SHOP AND 145.05 £75 £5,100 £35.16 TIVERTON, DEVON, EX16 6DQ PREMISES 15, MARKET WALK, TIVERTON, SHOP AND 146.8 £320 £19,750 £134.54 DEVON, EX16 6BL PREMISES 31A, GOLD STREET, TIVERTON, SHOP AND 147.9 £150 £13,000 £87.90 DEVON, EX16 6QB PREMISES 25, FORE STREET, TIVERTON, SHOP AND 148.9 £460 £13,500 £90.66 DEVON, EX16 6LZ PREMISES 10, FORE STREET, TIVERTON, SHOP AND 151.21 £420 £20,750 £137.23 DEVON, EX16 6LH PREMISES SHOP POST 17, WEST STREET, WITHERIDGE, OFFICE AND 151.9 £90 £7,300 £48.06 TIVERTON, DEVON, EX16 8AA PREMISES 9, BAMPTON STREET, TIVERTON, SHOP AND 156.48 £350 £18,000 £115.03 DEVON, EX16 6AA PREMISES 46-48, BAMPTON STREET, SHOP AND 159.53 £240 £13,250 £83.06 TIVERTON, DEVON, EX16 6AH PREMISES 27, GOLD STREET, TIVERTON, SHOP AND 161.31 £210 £18,500 £114.69 DEVON, EX16 6QB PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications 16, MARKET WALK, TIVERTON, SHOP AND 174.7 £320 £18,000 £103.03 DEVON, EX16 6BL PREMISES 1, BEECH ROAD, TIVERTON, SHOP AND 178.8 £85 £9,600 £53.69 DEVON, EX16 6HW PREMISES 19-21, FORE STREET, TIVERTON, SHOP AND 179.28 £460 £29,000 £161.76 DEVON, EX16 6LZ PREMISES 14-16, BAMPTON STREET, SHOP AND 182.5 £320 £21,000 £115.07 TIVERTON, DEVON, EX16 6AA PREMISES 15A, BAMPTON STREET, SHOP AND 197.3 £320 £23,500 £119.11 TIVERTON, DEVON, EX16 6AA PREMISES 7, CASTLE STREET, BAMPTON, SHOP AND 197.7 £100 £5,300 £26.81 TIVERTON, DEVON, EX16 9NS PREMISES 40-42, FORE STREET, TIVERTON, SHOP AND 205.2 £460 £38,250 £186.40 DEVON, EX16 6LD PREMISES 15, BAMPTON STREET, SHOP AND 205.8 £320 £23,000 £111.76 TIVERTON, DEVON, EX16 6AA PREMISES 17, BAMPTON STREET, SHOP AND 215.1 £320 £24,250 £112.74 TIVERTON, DEVON, EX16 6AA PREMISES 27, FORE STREET, TIVERTON, SHOP AND 217.36 £460 £21,000 £96.61 DEVON, EX16 6LZ PREMISES 44, FORE STREET, TIVERTON, SHOP AND 221.88 £460 £26,500 £119.43 DEVON, EX16 6LD PREMISES WYCHANGER BARTON SADDLERY SHOP AND HAYWAIN, BURLESCOMBE, 233.85 £41 £11,000 £47.04* PREMISES TIVERTON, DEVON, EX16 7JY HALBERTON COURT FARM SHOP, SHOP AND HALBERTON, TIVERTON, DEVON, 237.25 £70 £13,500 £56.90 PREMISES EX16 7AF 39, BAMPTON STREET, SHOP AND 240.55 £240 £12,750 £53.00 TIVERTON, DEVON, EX16 6AH PREMISES 6, GOLD STREET, TIVERTON, SHOP AND 241.6 £320 £21,750 £90.02 DEVON, EX16 6PZ PREMISES 8, FORE STREET, TIVERTON, SHOP AND 250.62 £300 £18,250 £72.82 DEVON, EX16 6LH PREMISES 14, FORE STREET, TIVERTON, SHOP AND 253.1 £430 £42,750 £168.91 DEVON, EX16 6LH PREMISES 36, FORE STREET, TIVERTON, SHOP AND 267.9 £460 £29,500 £110.12 DEVON, EX16 6LD PREMISES 19-21, ANGEL HILL, TIVERTON, SHOP AND 277.2 £180 £9,600 £34.63 DEVON, EX16 6PE PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications 12-14, MARKET WALK, SHOP AND 281.6 £320 £43,000 £152.70 TIVERTON, DEVON, EX16 6BL PREMISES 4-6, NEWTON SQUARE, SHOP AND BAMPTON, TIVERTON, DEVON, 283.21 £100 £11,000 £38.84 PREMISES EX16 9NE 24-26, FORE STREET, TIVERTON, SHOP AND 287.6 £430 £40,000 £139.08 DEVON, EX16 6LH PREMISES 50, FORE STREET, TIVERTON, SHOP AND 296.5 £420 £40,500 £136.59 DEVON, EX16 6LD PREMISES MILLMANS STORES, WESTEXE SHOP AND SOUTH, TIVERTON, DEVON, EX16 297.1 £120 £17,750 £59.74 PREMISES 5DJ 39, BROOK STREET, BAMPTON, SHOP AND 297.13 £100 £8,000 £26.92 TIVERTON, DEVON, EX16 9LU PREMISES 30, FORE STREET, TIVERTON, SHOP AND 309.3 £460 £44,250 £143.06 DEVON, EX16 6LD PREMISES 8-9, MARKET WALK, TIVERTON, SHOP AND 316.46 £320 £41,750 £131.93 DEVON, EX16 6BL PREMISES 17, ANGEL HILL, TIVERTON, SHOP AND 332.43 £180 £8,900 £26.77 DEVON, EX16 6PE PREMISES 1, BAMPTON STREET, TIVERTON, SHOP AND 333.9 £400 £36,500 £109.31 DEVON, EX16 6AA PREMISES 24A 26 & 28, BAMPTON STREET, SHOP AND 346 £320 £34,000 £98.27 TIVERTON, DEVON, EX16 6AA PREMISES 1, MACS NEIGHBOURHOOD SHOP AND CENTRE, LEA ROAD, TIVERTON, 358.71 £225 £38,000 £105.94 PREMISES DEVON, EX16 6SU 20-22, FORE STREET, TIVERTON, SHOP AND 414 £430 £40,000 £96.62 DEVON, EX16 6LH PREMISES 39, FORE STREET, TIVERTON, SHOP AND 457.8 £420 £58,500 £127.79 DEVON, EX16 6LZ PREMISES 56, FORE STREET, TIVERTON, SHOP AND 496.18 £420 £46,250 £93.21 DEVON, EX16 6LD PREMISES 18/20, MARKET WALK, SHOP AND 501 £320 £58,500 £116.77 TIVERTON, DEVON, EX16 6BL PREMISES 18, FORE STREET, TIVERTON, SHOP AND 659.4 £430 £57,000 £86.44 DEVON, EX16 6LH PREMISES 7, FORE STREET, TIVERTON, SHOP AND 661.2 £350 £62,500 £94.53 DEVON, EX16 6LN PREMISES

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£/m2 £/m2 Zone A Average Size Annual Rateable Address Description Annual (m2) Rental Value Rental Indications Indications HOME FAYRE 16-22, GOLD SHOP AND STREET, TIVERTON, DEVON, EX16 882.4 £210 £51,500 £58.36 PREMISES 6PZ 17, MARKET WALK, TIVERTON, SHOP AND 1104.4 £320 £79,000 £71.53 DEVON, EX16 6BL PREMISES MARKS AND SPENCER, PHOENIX LARGE LANE, TIVERTON, DEVON, EX16 1204.2 £125 £150,000 £124.56 FOODSTORE 6LU 37, FORE STREET, TIVERTON, SHOP AND 2249.06 £460 £137,000 £60.91 DEVON, EX16 6LZ PREMISES 1-5, GOLD STREET, TIVERTON, SHOP AND 3023.13 £40 £97,500 £32.25 DEVON, EX16 6QD PREMISES Average: 307.39 £281 £26,565 £100.26 *VOA valuation also allows for additional items e.g. covered sales areas / exercise areas etc. which accounts for high average rental indication in some cases.

Farm Shops

£/m2 £/m2 Average Size Headline Rateable Address Description Annual (m2) Annual Rental Value Rental Indications Indications FARM SHOP AT CLANNABOROUGH BARTON, SHOP AND 24.59 £60 £1,125 £45.75 BOW, CREDITON, DEVON, PREMISES EX17 6DA THE ARK CHICKEN COMPANY AT ROOSTERS OF BABYLON, SHOP AND 74.94 £55 £3,650 £48.71 BABYLON LANE, SILVERTON, PREMISES EXETER, EX5 4DT THORNS FARM SHOP, SHOP AND STOCKLEIGH POMEROY, 190.02 £60 £8,800 £46.31 PREMISES CREDITON, DEVON, EX17 4BH WEST COUNTRY CAR SALES, WILLAND ROAD, SHOP AND 216.9 £70 £10,000 £46.10 CULLOMPTON, DEVON, EX15 PREMISES 1QP EXE VALLEY FARM SHOP, SHOP AND THORVERTON, EXETER, EX5 229.5 £45 £7,100 £30.94 PREMISES 5NB

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£/m2 £/m2 Average Size Headline Rateable Address Description Annual (m2) Annual Rental Value Rental Indications Indications HILL FARM, HEMYOCK, FARM SHOP CULLOMPTON, DEVON, EX15 234.36 £45 £8,800 £37.55 AND PREMISES 3UZ Average: 161.72 £56 £6,579 £43

Offices

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications Crediton UNIT 1B, WEST END, MARSH OFFICES AND LANE, CREDITON, DEVON, 107.31 £46 £4,800 £44.73 PREMISES EX17 1ES CHURCH VIEW, UNION ROAD, OFFICES AND 113.53 £110 £4,100 £36.11 CREDITON, DEVON, EX17 3AL PREMISES CREDITON AREA CHILDRENS CHILDRENS CENTRE, NEWCOMBES, CENTRE AND 116.7 £41 £6,800 £58.27* CREDITON, DEVON, EX17 2AR PREMISES 4, MARKET STREET, CREDITON, OFFICES AND 117.7 £65 £5,700 £48.43 DEVON, EX17 2AJ PREMISES TREATMENT ROOMS AT TREATMENT WOOLSGROVE COURT, ROOMS AND 131.88 £47 £6,100 £46.25 MORCHARD ROAD, CREDITON, PREMISES DEVON, EX17 5LQ 130A, HIGH STREET, OFFICES AND 135.9 £65 £6,800 £50.04 CREDITON, DEVON, EX17 3LQ PREMISES HILLBANK, CLIFFORD OFFICES AND GARDENS, CREDITON, DEVON, 150.29 £65 £11,250 £74.86 PREMISES EX17 2AN 1ST FLR LLOYDS BANK OFFICES AND CHAMBERS, HIGH STREET, 163.5 £65 £8,500 £51.99 PREMISES CREDITON, DEVON, EX17 3AH 10, MARKET STREET, OFFICES AND 163.5 £65 £11,000 £67.28* CREDITON, DEVON, EX17 2AJ PREMISES

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications CREDITON COMMUNITY TEAM, WESTERN LODGE, OFFICES AND 183.5 £40 £6,900 £37.60 WESTERN ROAD, CREDITON, PREMISES DEVON, EX17 3NH NFU, EXETER ROAD, OFFICES AND 185.01 £53 £11,250 £60.81* CREDITON, DEVON, EX17 3BN PREMISES 2-3, MARKET STREET, OFFICES AND 291.2 £55 £12,250 £42.07 CREDITON, DEVON, EX17 2AL PREMISES 6, NORTH STREET, CREDITON, OFFICES AND 347 £55 £16,250 £46.83 DEVON, EX17 2BR PREMISES 31, HIGH STREET, CREDITON, OFFICES AND 380.52 £55 £16,750 £44.02 DEVON, EX17 3AJ PREMISES 1, WESTWARD BUSINESS OFFICES AND CENTRE, MILL STREET, 555.58 £32 £17,250 £31.05 PREMISES CREDITON, DEVON, EX17 1HB Average: 209.54 £57.28 £9,713.33 £49.36 Cullompton MARTIN ELLIOTT & COLE R/O 1, FORE STREET, OFFICES AND 114.5 £65.50 £7,600 £66.38* CULLOMPTON, DEVON, EX15 PREMISES 1JW GND FLR 12, HIGH STREET, TREATMENT CULLOMPTON, DEVON, EX15 ROOMS AND 115.59 £64.88 £7,400 £64.02 1AA PREMISES OFFICES AT CULM VALLEY INTERGRATED CNETRE FOR OFFICES AND HEALTH, WILLAND ROAD, 121.7 £57.00 £6,900 £56.70 PREMISES CULLOMPTON, DEVON, EX15 1FE 38, HIGH STREET, OFFICES AND CULLOMPTON, DEVON, EX15 127.86 £65.00 £8,000 £62.57 PREMISES 1AE 5A, FORE STREET, OFFICES AND CULLOMPTON, DEVON, EX15 175.1 £57.00 £7,900 £45.12 PREMISES 1JW UNIT 1, LONGBRIDGE OFFICES AND MEADOW, CULLOMPTON, 177.86 £41.00 £9,200 £51.73* PREMISES DEVON, EX15 1BT

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications THE BARN AT HITCHCOCKS FARM, UFFCULME, OFFICES AND 186.8 £38.00 £6,700 £35.87 CULLOMPTON, DEVON, EX15 PREMISES 3BZ 1ST & 2ND FLR 12, HIGH OFFICES AND STREET, CULLOMPTON, 207.42 £62.67 £9,600 £46.28 PREMISES DEVON, EX15 1AA 15, POUND SQUARE, OFFICES AND CULLOMPTON, DEVON, EX15 227.96 £45.00 £7,800 £34.22 PREMISES 1DN 1-4, WARREN FARM UNITS, OFFICES AND KENTISBEARE, CULLOMPTON, 282.92 £32.00 £8,600 £30.40 PREMISES DEVON, EX15 2BR ROYAL MAIL DELIVERY OFFICE SORTING 34, FORE STREET, OFFICE AND 414.71 £55.00 £14,750 £35.57 CULLOMPTON, DEVON, EX15 PREMISES 1BP VALE VETS, COLLEGE ROAD, OFFICES AND CULLOMPTON, DEVON, EX15 550.83 £35.00 £23,000 £41.76* PREMISES 1TG THE GABLES, GABLES ROAD, OFFICES AND WILLAND, CULLOMPTON, 644.96 £35.00 £17,000 £26.36 PREMISES DEVON, EX15 2PL Average: 257.55 £50 £10,342 £46 Tiverton 12, FORE STREET, TIVERTON, OFFICES AND 101.4 £430 £15,750 £155.33 DEVON, EX16 6LH PREMISES UNIT 18, SWALLOW COURT, JERSEY FARM, SAMPFORD OFFICE AND 103.39 £78 £7,500 £72.54 PEVERELL, TIVERTON, DEVON, PREMISES EX16 7EJ 1ST FL 6-7, MARKET WALK, OFFICES AND 103.8 £72 £7,100 £68.40 TIVERTON, DEVON, EX16 6BL PREMISES UNIT 2, CHINON COURT, OFFICES AND LOWER MOOR WAY, 105.3 £68 £8,500 £80.72* PREMISES TIVERTON, DEVON, EX16 6SS 1ST FLR UNIT 2, STATION OFFICES AND ROAD, BAMPTON, TIVERTON, 105.6 £35 £4,200 £39.77* PREMISES DEVON, EX16 9NG

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications POST HILL NURSING HOME 36, OFFICES AND POST HILL, TIVERTON, DEVON, 110.47 £58 £4,000 £36.21 PREMISES EX16 4ND TRAINING 4, BARRINGTON STREET, CENTRE AND 112.59 £53 £5,900 £52.40 TIVERTON, DEVON, EX16 6PU PREMISES ACTION FOR CHILDREN CENTRE AT WITHERIDGE C OF CHILDRENS E SCHOOL, FORE STREET, 113.4 £40 £4,050 £35.71 CENTRE WITHERIDGE, TIVERTON, DEVON, EX16 8AH 100, CHAPEL STREET, OFFICES AND 124.8 £70 £9,800 £78.53* TIVERTON, DEVON, EX16 6BU PREMISES 45, BAMPTON STREET, OFFICES AND 124.9 £65 £7,500 £60.05 TIVERTON, DEVON, EX16 6AH PREMISES 1 (1ST FLR), OAKLANDS OFFICES AND COURT, TIVERTON WAY, 125.5 £100 £13,000 £103.59* PREMISES TIVERTON, DEVON, EX16 6TG TOWN HALL - CITIZENS ADVICE OFFICES AND BUREAU, FORE STREET, 137.07 £70 £9,500 £69.31 PREMISES TIVERTON, DEVON, EX16 6PG OFFICES AT STOODLEIGH COURT, STOODLEIGH, OFFICES 140.9 £47 £6,600 £46.84 TIVERTON, DEVON, EX16 9PN UNIT 1/2 SWALLOW COURT AT JERSEY FARM, SAMPFORD OFFICES AND 145.5 £70 £13,000 £89.35* PEVERELL, TIVERTON, DEVON, PREMISES EX16 7EJ 1, ST PAUL STREET, TIVERTON, OFFICES AND 147.09 £70 £8,600 £58.47 DEVON, EX16 5HT PREMISES 21, BAMPTON STREET, OFFICES AND 147.52 £320 £17,750 £120.32 TIVERTON, DEVON, EX16 6AA PREMISES GOTHAM CHAMBERS, OFFICES AND HAMMETT SQUARE, 153.3 £70 £10,000 £65.23 PREMISES TIVERTON, DEVON, EX16 6LR UNIT 1, CHINON COURT, OFFICES AND LOWER MOOR WAY, 162.3 £65 £12,500 £77.02* PREMISES TIVERTON, DEVON, EX16 6SS 6, ST PETER STREET, OFFICES AND 169.4 £70 £10,250 £60.51 TIVERTON, DEVON, EX16 6NX PREMISES

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications 5, HIGHLAND TERRACE, OFFICES AND BARRINGTON STREET, 172.65 £50 £7,400 £42.86 PREMISES TIVERTON, DEVON, EX16 6PT UNIT 6, CHINON COURT, OFFICES AND LOWER MOOR WAY, 173.04 £65 £12,750 £73.68* PREMISES TIVERTON, DEVON, EX16 6SS 49A-49B, ST PETER STREET, OFFICES AND 182.24 £70 £7,100 £38.96 TIVERTON, DEVON, EX16 6NW PREMISES 30, ST PETER STREET, OFFICES AND 186.6 £70 £11,000 £58.95 TIVERTON, DEVON, EX16 6NR PREMISES FORMER LIBRARY, ANGEL HILL, OFFICES AND 187.19 £70 £10,750 £57.43 TIVERTON, DEVON, EX16 6PE PREMISES BECK HOUSE, BECKS SQUARE, OFFICES AND 188.65 £50 £9,300 £49.30 TIVERTON, DEVON, EX16 6PJ PREMISES 1ST FLOOR 3 & 4, OAKLANDS OFFICES AND COURT, TIVERTON WAY, 202.96 £99 £21,750 £107.16* PREMISES TIVERTON, DEVON, EX16 6TG 28, GOLD STREET, TIVERTON, OFFICES AND 210.96 £210 £18,250 £86.51 DEVON, EX16 6PY PREMISES ISLAND THE, LOWMAN GREEN, OFFICES AND 211.1 £66 £12,750 £60.40 TIVERTON, DEVON, EX16 4LA PREMISES UNITS 13 & 14, SWALLOW COURT, JERSEY FARM, OFFICES AND 212.07 £66 £17,500 £82.52* SAMPFORD PEVERELL, PREMISES TIVERTON, DEVON, EX16 7EJ UNIT 5 (GROUND FLOOR), TIVERTON TRADE CENTRE, OFFICES AND 215.28 £65 £14,000 £65.03 LOWMAN WAY, TIVERTON, PREMISES DEVON, EX16 6SR UNIT 3, CHINON COURT, OFFICES AND LOWER MOOR WAY, 216 £63 £15,750 £72.92* PREMISES TIVERTON, DEVON, EX16 6SS UNITS 11 & 12, SWALLOW COURT, JERSEY FARM, OFFICES AND 216.97 £65 £17,250 £79.50* SAMPFORD PEVERELL, PREMISES TIVERTON, DEVON, EX16 7EJ THE OLD STABLES WONHAM STORES AND HOUSE, WONHAM, BAMPTON, 219.61 £43 £6,000 £27.32 PREMISES TIVERTON, DEVON, EX16 9JZ 21-23, BAMPTON STREET, OFFICES AND 225.3 £58 £10,500 £46.60 TIVERTON, DEVON, EX16 6AA PREMISES

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications LOWMAN HOUSE, LOWMAN OFFICES AND GREEN, TIVERTON, DEVON, 227.59 £63 £16,750 £73.60* PREMISES EX16 4LA MID DEVON SHOPMOBILITY, OFFICES AND PHOENIX LANE, TIVERTON, 233.46 £46 £10,250 £43.90 PREMISES DEVON, EX16 6NB DEVONSHIRE HOUSE, OFFICES AND LOWMAN GREEN, TIVERTON, 259.37 £63 £18,000 £69.40* PREMISES DEVON, EX16 4LA 2, OAKLANDS COURT, OFFICES AND TIVERTON WAY, TIVERTON, 266.45 £92 £25,500 £95.70* PREMISES DEVON, EX16 6TG TIDCOMBE MEWS - UNIT 1, OFFICES AND TIDCOMBE LANE, TIVERTON, 272.9 £63 £13,500 £49.47 PREMISES DEVON, EX16 4EJ UNIT 6 (FIRST FLOOR), TIVERTON TRADE CENTRE, OFFICES AND 296.28 £63 £17,500 £59.07 LOWMAN WAY, TIVERTON, PREMISES DEVON, EX16 6SR 5, OAKLANDS COURT, OFFICES AND TIVERTON WAY, TIVERTON, 321.66 £92 £32,000 £99.48* PREMISES DEVON, EX16 6TG 11, BAMPTON STREET, OFFICES AND 356.7 £320 £25,000 £70.09 TIVERTON, DEVON, EX16 6AA PREMISES COGGANS WELL HOUSE, OFFICES AND PHOENIX LANE, TIVERTON, 361.1 £63 £23,250 £64.39* PREMISES DEVON, EX16 6LU 19, BAMPTON STREET, OFFICES AND 361.66 £320 £32,000 £88.48 TIVERTON, DEVON, EX16 6AA PREMISES DEVON COUNTY COUNCIL, OFFICES AND PHOENIX LANE, TIVERTON, 363.9 £55 £24,000 £65.95* PREMISES DEVON, EX16 6LB MARIE CURIE HOUSE, THE OFFICES AND AVENUE, TIVERTON, DEVON, 373.3 £63 £16,000 £42.86 PREMISES EX16 4HR GOTHAM HOUSE, HAMMETT OFFICES AND SQUARE, TIVERTON, DEVON, 508.62 £56 £29,250 £57.51* PREMISES EX16 6LR UNIT 7, MILLENNIUM PLACE, OFFICES AND TIVERTON BUSINESS PARK, 515.8 £67 £41,250 £79.97* PREMISES TIVERTON, DEVON, EX16 6SB

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Size Rateable Address Description Annual Annual (m2) Value Rental Rental Indications Indications OLD HEATHCOAT SCHOOL COMMUNITY CENTRE, KING OFFICES AND 546.85 £53 £38,000 £69.49* STREET, TIVERTON, DEVON, PREMISES EX16 5JJ KNIGHTSHAYES ESTATE OFFICES AND OFFICES LTD, LEAT STREET, 662.03 £20 £11,500 £17.37 PREMISES TIVERTON, DEVON, EX16 5LF 6-8, OAKLANDS COURT, OFFICES AND TIVERTON WAY, TIVERTON, 714.6 £83 £61,500 £86.06* PREMISES DEVON, EX16 6TG ALEXANDRA LODGE 5, OLD OFFICES AND ROAD, TIVERTON, DEVON, 840.86 £53 £40,000 £47.57 PREMISES EX16 4HQ Average: 248.81 £88 £16,208 £67 Note: Yellow highlighted cells = Rural Offices *VOA valuation also allows for additional items e.g. car parking which accounts for the higher average rental indications in some cases.

Restaurants

£/m2 £/m2 Average Size Headline Rateable Address Description Annual (m2) Annual Rental Value Rental Indications Indications MCDONALDS RESTAURANT, RESTAURANT LOWMAN WAY, TIVERTON, 312.93 £268 £80,000 £255.65 AND PREMISES DEVON, EX16 6SR JUNCTION 28 (MCDONALDS), DRIVE IN STATION ROAD, RESTAURANT 351.55 £395 £138,000 £392.55 CULLOMPTON, DEVON, EX15 AND PREMISES 1PA COSTA COFFEE, SAMPFORD RESTAURANT PEVERELL, TIVERTON, DEVON, - - £83,500 n/a AND PREMISES EX16 7HD COSTA COFFEE MOTORWAY SERVICES AT JUNCTION 28, RESTAURANT STATION ROAD, - - £30,000 n/a AND PREMISES CULLOMPTON, DEVON, EX15 1PA Average: 332.24 £331 £109,000 £324 Note: Only searched for large format chain style restaurants

Mid Devon District Council D|S|P Development & Viability Consultants

Retail Warehousing

£/m2 £/m2 Average Size Headline Rateable Address Description Annual (m2) Annual Rental Value Rental Indications Indications Tiverton UNIT 2, HARRIS COURT, RETAIL KENNEDY WAY, TIVERTON, WAREHOUSE 369.64 £125 £49,000 £132.56* DEVON, EX16 6RZ AND PREMISES UNIT 1A, HARRIS COURT, RETAIL KENNEDY WAY, TIVERTON, WAREHOUSE 370.46 £125 £46,250 £124.84 DEVON, EX16 6RZ AND PREMISES UNIT 1, HARRIS COURT, RETAIL KENNEDY WAY, TIVERTON, WAREHOUSE 431.61 £135 £58,000 £134.38 DEVON, EX16 6RZ AND PREMISES UNIT 1, KENNEDY COURT, RETAIL KENNEDY WAY, TIVERTON, WAREHOUSE 600.75 £135 £94,500 £157.30* DEVON, EX16 6FP AND PREMISES UNIT 2, KENNEDY COURT, RETAIL KENNEDY WAY, TIVERTON, WAREHOUSE 600.75 £135 £81,000 £134.83 DEVON, EX16 6FP AND PREMISES 5-7, ORMIDALE SQUARE, RETAIL LOWMAN WAY, TIVERTON, WAREHOUSE 3825.22 £105 £327,500 £85.62 DEVON, EX16 6TW AND PREMISES TEXAS HOMECARE, LOWMAN RETAIL WAY, TIVERTON, DEVON, EX16 WAREHOUSE 3935.22 £120 £362,500 £92.12 4SR AND PREMISES Average: 1447.66 £126 £145,536 £123 Note: No available data for Crediton or Cullompton *VOA valuation also allows for additional items e.g. car parking, mezzanine floor, air conditioning systems etc. which accounts for the higher average rental indications in some cases.

Mid Devon District Council D|S|P Development & Viability Consultants

Industrial Warehousing

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications Crediton WAREHOUSE UNIT 2, OAK DOWN END, AND 107.64 £46 £5,000 £46.45 CREDITON, DEVON, EX17 1HN PREMISES 1 TOLLEYS UNITS, COMMON MARSH LANE, LORDS WAREHOUSE MEADOW INDUSTRIAL AND 117.04 £46 £5,400 £46.14 ESTATE, CREDITON, DEVON, PREMISES EX17 1HJ UNITS 5E & 5F, YEO VALE WAREHOUSE CROSS, LAPFORD, CREDITON, AND 117.7 £47 £5,500 £46.73 DEVON, EX17 6YQ PREMISES 2 TOLLEYS UNITS, COMMON MARSH LANE, LORDS WAREHOUSE MEADOW INDUSTRIAL AND 118.8 £46 £5,500 £46.30 ESTATE, CREDITON, DEVON, PREMISES EX17 1HJ WAREHOUSE UNIT 9, MARSH END, AND 212.68 £39 £7,800 £36.67 CREDITON, DEVON, EX17 1DN PREMISES WAREHOUSE UNIT 3, MARSH END, AND 214.18 £39 £7,800 £36.42 CREDITON, DEVON, EX17 1DN PREMISES WAREHOUSE UNIT 4, DOWN END, AND 239.56 £39 £8,800 £36.73 CREDITON, DEVON, EX17 1HN PREMISES CLANNABOROUGH BARTON, WAREHOUSE BOW, CREDITON, DEVON, AND 296.48 £19 £5,000 £16.86 EX17 6DA PREMISES UNIT 2, BRIDGE ROAD, WAREHOUSE LAPFORD, CREDITON, AND 313.75 £21 £7,400 £23.59* DEVON, EX17 6AE PREMISES 2A, WESTWARD BUSINESS WAREHOUSE CENTRE, MILL STREET, AND 314 £32 £8,100 £25.80 CREDITON, DEVON, EX17 1HB PREMISES 3, WESTWARD BUSINESS WAREHOUSE CENTRE, MILL STREET, AND 357.21 £32 £9,600 £26.87 CREDITON, DEVON, EX17 1HB PREMISES

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications WAREHOUSE UNIT 60, MARSH LANE, AND 426.64 £36 £16,500 £38.67* CREDITON, DEVON, EX17 1ES PREMISES REFRIDGERATION SPARES WAREHOUSE LTD, MARSH LANE, AND 441.78 £36 £14,500 £32.82 CREDITON, DEVON, EX17 1ES PREMISES D S M TIMBER, STATION WAREHOUSE ROAD, BOW, CREDITON, AND 445.56 £31 £12,000 £26.93 DEVON, EX17 6JD PREMISES UNIT 2, STATION BUSINESS WAREHOUSE PARK, LAPFORD, CREDITON, AND 465.13 £22 £10,250 £22.04 DEVON, EX17 6AE PREMISES WAREHOUSE UNIT 3A, MARSH LANE, AND 518.22 £36 £18,250 £35.22 CREDITON, DEVON, EX17 1ES PREMISES DEVON COUNTY COUNCIL, HIGHWAY FORDTON, CREDITON, DEPOT AND 830.17 £27 £24,750 £29.81* DEVON, EX17 3BZ PREMISES ISCA SCAFFOLD LTD, MARSH WAREHOUSE ROAD, CREDITON, DEVON, AND 840.59 £28 £22,750 £27.06 EX17 1EU PREMISES CREATE STORAGE, WAREHOUSE WESTWARD BUSINESS AND 926.49 £26 £21,250 £22.94 CENTRE, MILL STREET, PREMISES CREDITON, DEVON, EX17 1HB GAMMON YARD, FORDTON WAREHOUSE INDUSTRIAL ESTATE, AND 1032.14 £19 £23,750 £23.01* FORDTON, CREDITON, PREMISES DEVON, EX17 3BZ UNIT 1/1A, JOHNSLAND WAREHOUSE COTTAGE, BOW, CREDITON, AND 1102.93 £22 £17,250 £15.64 DEVON, EX17 6HG PREMISES WAREHOUSE UNIT 2, MARSH LANE, AND 1267.22 £23 £28,500 £22.49 CREDITON, DEVON, EX17 1ES PREMISES E TUCKER & SONS, WAREHOUSE COMMERCIAL ROAD, AND 1267.34 £19 £26,750 £21.11* CREDITON, DEVON, EX17 1AR PREMISES

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications THE WHEEL HOUSE, MARSH WAREHOUSE END, LORDS MEADOW AND 1554.7 £22 £31,750 £20.42 INDUSTRIAL ESTATE, PREMISES CREDITON, DEVON, EX17 1DN WAREHOUSE JEWSON LTD, EXETER ROAD, AND 1765.48 £22 £39,250 £22.23 CREDITON, DEVON, EX17 3PH PREMISES UNIVERSAL OFFICE WAREHOUSE SOLUTIONS LTD, MARSH AND 1778.67 £24 £31,500 £17.71 ROAD, CREDITON, DEVON, PREMISES EX17 1EU ROSE REMOVALS, STATION WAREHOUSE BUSINESS PARK, LAPFORD, AND 1819.88 £14 £32,000 £17.58* CREDITON, DEVON, EX17 6AE PREMISES MOLE VALLEY FARMERS, WAREHOUSE COMMON MARSH LANE, AND 1879.93 £16 £26,250 £13.96 CREDITON, DEVON, EX17 1HJ PREMISES BUCKLAND TIMBER, MARSH WAREHOUSE END, LORDS MEADOW AND 1918.13 £19 £34,000 £17.73 INDUSTRIAL ESTATE, PREMISES CREDITON, DEVON, EX17 1DN FORMER MILK LINK DEPOT, MARSH END, LORDS WAREHOUSE MEADOW INDUSTRIAL AND 3058.43 £19 £55,500 £18.15 ESTATE, CREDITON, DEVON, PREMISES EX17 1DN MEADOW PARK UNITS, MARSH END, LORDS WAREHOUSE MEADOW INDUSTRIAL AND 3818.11 £18 £61,000 £15.98 ESTATE, CREDITON, DEVON, PREMISES EX17 1DN Average: 953.76 £29 £20,118 £27 Cullompton

UNIT 8, ALEXANDRIA WAREHOUSE INDUSTRIAL ESTATE, STATION AND 103.35 £41 £3,850 £37.25 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BW

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNIT 2, ALEXANDRIA WAREHOUSE INDUSTRIAL ESTATE, STATION AND 117.3 £39 £4,200 £35.81 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BW

UNIT 3, SIMMONS PLACE, WAREHOUSE SAUNDERS WAY, AND 138.12 £52 £7,400 £53.58* CULLOMPTON, DEVON, EX15 PREMISES 1BH

UNIT 6, SIMMONS PLACE, WAREHOUSE SAUNDERS WAY, AND 138.59 £52 £7,200 £51.95 CULLOMPTON, DEVON, EX15 PREMISES 1BH

UNIT D, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 141.12 £39 £5,100 £36.14 CULLOMPTON, DEVON, EX15 PREMISES 3DA

UNIT M1, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 151.39 £39 £5,100 £33.69 CULLOMPTON, DEVON, EX15 PREMISES 3DA

H F HEARD LTD, LLOYD WAREHOUSE MAUNDER ROAD, WILLAND, AND 172.15 £53 £15,750 £91.49* CULLOMPTON, DEVON, EX15 PREMISES 2PH

UNIT 6D, SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 174.83 £50 £8,500 £48.62 CULLOMPTON, DEVON, EX15 PREMISES 2QW

UNIT 2C, ALEXANDRIA WAREHOUSE INDUSTRIAL ESTATE, STATION AND 178.54 £37 £6,600 £36.97 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BW UNIT C3, LONGBRIDGE WAREHOUSE MEADOW, CULLOMPTON, AND 183.4 £50 £9,200 £50.16 DEVON, EX15 1BT PREMISES

UNIT 6C, SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 183.92 £50 £9,100 £49.48 CULLOMPTON, DEVON, EX15 PREMISES 2QW

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNIT 3, DURBAN WORKS, WAREHOUSE SOUTH VIEW ROAD, AND 189.98 £50 £6,700 £35.27 WILLAND, CULLOMPTON, PREMISES DEVON, EX15 2RU

UNIT 2, DURBAN WORKS, WAREHOUSE SOUTH VIEW ROAD, AND 190 £50 £6,700 £35.26 WILLAND, CULLOMPTON, PREMISES DEVON, EX15 2RU UNIT 7, SOUTH VIEW ESTATE, WAREHOUSE WILLAND, CULLOMPTON, AND 190.43 £63 £16,750 £87.96* DEVON, EX15 2QW PREMISES 3A DULFORD UNITS, WAREHOUSE DULFORD, CULLOMPTON, AND 210.64 £58 £11,500 £54.60 DEVON, EX15 2DY PREMISES

UNIT 2 BLOCK C, POST CROSS WAREHOUSE BUSINESS PARK, AND 235.7 £52 £11,750 £49.85 KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2BB

UNIT 3 BLOCK C, POST CROSS WAREHOUSE BUSINESS PARK, AND 236.91 £52 £11,750 £49.60 KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2BB 6, WARREN UNITS, WAREHOUSE KENTISBEARE, CULLOMPTON, AND 247.97 £29 £6,800 £27.42 DEVON, EX15 2BR PREMISES

UNIT 9, ALEXANDRIA WAREHOUSE INDUSTRIAL ESTATE, STATION AND 257.93 £32 £7,800 £30.24 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BW

2B, GRANARY COURT, WAREHOUSE SAUNDERS WAY, AND 278.1 £43 £11,500 £41.35 CULLOMPTON, DEVON, EX15 PREMISES 1BS UNIT 2, SOUTH VIEW ESTATE, WAREHOUSE WILLAND, CULLOMPTON, AND 280.37 £37 £9,600 £34.24 DEVON, EX15 2QW PREMISES

UNIT B, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 282 £33 £9,400 £33.33 CULLOMPTON, DEVON, EX15 PREMISES 3DA

Mid Devon District Council D|S|P Development & Viability Consultants

£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNIT P, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 285.25 £33 £7,700 £26.99 CULLOMPTON, DEVON, EX15 PREMISES 3DA

UNIT 1 BLOCK C, POST CROSS WAREHOUSE BUSINESS PARK, AND 287.27 £50 £13,750 £47.86 KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2BB TOOLS UK (SW) LTD, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 305.91 £48 £11,500 £37.59 1PA PREMISES 14, WARREN FARM UNITS, WAREHOUSE KENTISBEARE, CULLOMPTON, AND 308.22 £27 £8,100 £26.28 DEVON, EX15 2BR PREMISES

UNITS 1A-1C, ALEXANDRIA WAREHOUSE INDUSTRIAL ESTATE, STATION AND 313.95 £41 £8,400 £26.76 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BW D & H HIRE, SAUNDERS WAY, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 382.87 £47 £17,750 £46.36 1BS PREMISES

UNIT A TAG BUSINESS WAREHOUSE CENTRE, STATION ROAD, AND 390.68 £54 £22,750 £58.23* WILLAND, CULLOMPTON, PREMISES DEVON, EX15 2PR FIVE BRIDGES FARM (L M WAREHOUSE BATEMAN), CULLOMPTON, AND 407.95 £19 £10,250 £25.13 DEVON, EX15 1QP PREMISES

UNITS 6A & 6B, SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 409.24 £44 £17,750 £43.37 CULLOMPTON, DEVON, EX15 PREMISES 2QW UNIT D, THE OLD TANNERY, WAREHOUSE EXETER ROAD, AND 409.33 £25 £9,200 £22.48 CULLOMPTON, DEVON, EX15 PREMISES 1DT

UNITS1/2 BLOCK B, POST WAREHOUSE CROSS BUSINESS PARK, AND 416.59 £40 £17,250 £41.41* KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2BB

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNIT A, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 417.6 £30 £11,750 £28.14 CULLOMPTON, DEVON, EX15 PREMISES 3DA

UNIT A (PRESSURE WAREHOUSE WASHERS), SAUNDERS WAY, AND 424.18 £42 £16,750 £39.49 CULLOMPTON, DEVON, EX15 PREMISES 1BS

2A, GRANARY COURT, WAREHOUSE SAUNDERS WAY, AND 432 £43 £13,000 £30.09 CULLOMPTON, DEVON, EX15 PREMISES 1BS UNIT C5, LONGBRIDGE WAREHOUSE MEADOW, CULLOMPTON, AND 439.62 £36 £20,750 £47.20* DEVON, EX15 1BT PREMISES

UNIT L, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 461.38 £39 £17,500 £37.93 CULLOMPTON, DEVON, EX15 PREMISES 3DA

CULM INDUSTRIAL WAREHOUSE CLOTHING, SAUNDERS WAY, AND 466.07 £39 £18,500 £39.69 CULLOMPTON, DEVON, EX15 PREMISES 1BS

1, GRANARY COURT, WAREHOUSE SAUNDERS WAY, AND 495.69 £39 £18,500 £37.32 CULLOMPTON, DEVON, EX15 PREMISES 1BS

D & H CONSTRUCTION WAREHOUSE EQUIPMENT, SAUNDERS AND 496.75 £39 £17,750 £35.73 WAY, CULLOMPTON, DEVON, PREMISES EX15 1BS UNIT C1, THE OLD TANNERY, WAREHOUSE EXETER ROAD, AND 499.7 £27 £12,750 £25.52 CULLOMPTON, DEVON, EX15 PREMISES 1DT

UNIT 2, BUTTERLEIGH WAREHOUSE SAWMILL, BUTTERLEIGH, AND 515.45 £32 £11,000 £21.34 CULLOMPTON, DEVON, EX15 PREMISES 1PP

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

THE OLD BREWERY, HIGH WAREHOUSE STREET, UFFCULME, AND 554.2 £16 £5,500 £9.92 CULLOMPTON, DEVON, EX15 PREMISES 3AB UNIT C4, LONGBRIDGE WAREHOUSE MEADOW, CULLOMPTON, AND 569.7 £33 £18,750 £32.91 DEVON, EX15 1BT PREMISES

FORMERLY KINGSMILL WAREHOUSE ARABLE CENTRE, KINGSMILL AND 574.79 £36 £19,750 £34.36 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BJ

LABDON BUILDING SUPPLIES WAREHOUSE - PALMERS BRIDGE, STATION AND 592.12 £27 £16,250 £27.44 ROAD, CULLOMPTON, PREMISES DEVON, EX15 1BQ 1 ALLER UNITS, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 602.29 £32 £18,000 £29.89 1QQ PREMISES

STONEMAN ENGINEERING, WAREHOUSE BRIDWELL AVENUE, AND 646.19 £15 £7,900 £12.23 UFFCULME, CULLOMPTON, PREMISES DEVON, EX15 3BU UNITS 1-2 HIGHMOUNT COURT, FOUR CROSS WAREHOUSE AVENUE, WILLAND, AND 684.99 £49 £33,750 £49.27 CULLOMPTON, DEVON, EX15 PREMISES 2FB UNIT C, THE OLD TANNERY, WAREHOUSE EXETER ROAD, AND 720.22 £19 £13,250 £18.40 CULLOMPTON, DEVON, EX15 PREMISES 1DT

UNIT 7, KINGSFORD RURAL WAREHOUSE BUSINESS CENTRE, AND 725.05 £30 £20,750 £28.62 KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2AU 1 WILLAND UNIT, WILLAND, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 732.18 £33 £20,000 £27.32 2RF PREMISES UNIT C, SAUNDERS WAY, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 751.97 £33 £26,000 £34.58* 1BS PREMISES

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNIT 8, SOUTH VIEW ESTATE, WAREHOUSE WILLAND, CULLOMPTON, AND 772.15 £42 £32,000 £41.44 DEVON, EX15 2QW PREMISES THE AGRONOMY CENTRE, WAREHOUSE WILLAND, CULLOMPTON, AND 775.33 £25 £21,000 £27.09* DEVON, EX15 2RF PREMISES

OTTERDENE PRODUCTS, WAREHOUSE SAUNDERS WAY, AND 780.31 £42 £21,750 £27.87 CULLOMPTON, DEVON, EX15 PREMISES 1BS 2 WILLAND UNIT, WILLAND, WAREHOUSE CULLOMPTON, DEVON, EX15 AND 809.87 £35 £27,500 £33.96 2RF PREMISES

3, WILLAND ROAD BUSINESS WAREHOUSE PARK, WILLAND, AND 879.83 £34 £35,000 £39.78* CULLOMPTON, DEVON, EX15 PREMISES 2RF UNIT 2, HITCHCOCKS FARM, WAREHOUSE UFFCULME, CULLOMPTON, AND 889.88 £35 £30,250 £33.99 DEVON, EX15 3FA PREMISES UNIT C 1-2, LONGBRIDGE WAREHOUSE MEADOW, CULLOMPTON, AND 925.38 £30 £27,250 £29.45 DEVON, EX15 1BT PREMISES

UNIT 12, SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 989.55 £38 £38,500 £38.91 CULLOMPTON, DEVON, EX15 PREMISES 2QW WESTCOUNTRY PRIVATE AMBULANCE SERVICES, WAREHOUSE SOUTH VIEW ROAD, AND 1005.78 £38 £38,000 £37.78 WILLAND, CULLOMPTON, PREMISES DEVON, EX15 2RU

UNIT 3, BUTTERLEIGH WAREHOUSE SAWMILL, BUTTERLEIGH, AND 1024.56 £30 £21,000 £20.50 CULLOMPTON, DEVON, EX15 PREMISES 1PP

UNITS N & U, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 1031.8 £19 £18,250 £17.69 CULLOMPTON, DEVON, EX15 PREMISES 3DA

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

UNITS F & G, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 1084.49 £19 £19,000 £17.52 CULLOMPTON, DEVON, EX15 PREMISES 3DA UNIT 5, SOUTH VIEW ESTATE, WAREHOUSE WILLAND, CULLOMPTON, AND 1093.68 £38 £38,500 £35.20 DEVON, EX15 2QW PREMISES UNIT A, LONGBRIDGE WAREHOUSE MEADOW, CULLOMPTON, AND 1152.5 £26 £35,000 £30.37* DEVON, EX15 1BT PREMISES

UNIT Y, LANGLANDS WAREHOUSE BUSINESS PARK, UFFCULME, AND 1234.11 £32 £37,250 £30.18 CULLOMPTON, DEVON, EX15 PREMISES 3DA

PENCARRIE LTD, TIVERTON WAREHOUSE JUNCTION, WILLAND, AND 1531.88 £29 £42,000 £27.42 CULLOMPTON, DEVON, EX15 PREMISES 2QD

UNIT 1, KINGSFORD RURAL WAREHOUSE BUSINESS CENTRE, AND 1651.31 £20 £34,000 £20.59 KENTISBEARE, CULLOMPTON, PREMISES DEVON, EX15 2AU

UNITS 1-4 & 11, BLACKDOWN WAREHOUSE PARK, SOUTH VIEW ESTATE, AND 1853.04 £33 £58,000 £31.30 WILLAND, CULLOMPTON, PREMISES DEVON, EX15 2QW

UNIT 13, SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 2114.33 £40 £80,500 £38.07 CULLOMPTON, DEVON, EX15 PREMISES 2QW UNIT 3, HITCHCOCKS FARM, WAREHOUSE UFFCULME, CULLOMPTON, AND 2296.89 £27 £53,000 £23.07 DEVON, EX15 3FA PREMISES UNITS 5-10 & 12-15, BLACKDOWN PARK, SOUTH WAREHOUSE VIEW ESTATE, WILLAND, AND 4145.54 £28 £106,000 £25.57 CULLOMPTON, DEVON, EX15 PREMISES 2QW

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications

STAN ROBINSON, TIVERTON WAREHOUSE JUNCTION, WILLAND, AND 4962.88 £24 £117,000 £23.58 CULLOMPTON, DEVON, EX15 PREMISES 2QD BAKO HOUSE, SAUNDERS WAREHOUSE WAY, CULLOMPTON, DEVON, AND 6236.04 £27 £168,000 £26.94 EX15 1BS PREMISES UNIT 14 SOUTH VIEW WAREHOUSE ESTATE, WILLAND, AND 13363.18 £24 £272,500 £20.39 CULLOMPTON, DEVON PREMISES

GREGORY DISTRIBUTION LTD, WAREHOUSE SAUNDERS WAY, AND 14856.54 £38 £500,000 £33.66 CULLOMPTON, DEVON, EX15 PREMISES 1BS Average: 1107.13 £37 £32,482 £35 Tiverton WAREHOUSE UNIT 7, LOWMAN WAY, AND 127.44 £68 £9,000 £70.62* TIVERTON, DEVON, EX16 4SR PREMISES UNIT 1 AT 6, WOODWARD WAREHOUSE ROAD, HOWDEN INDUSTRIAL AND 127.95 £55 £6,900 £53.93 ESTATE, TIVERTON, DEVON, PREMISES EX16 5GZ UNIT 3 AT 6, WOODWARD WAREHOUSE ROAD, HOWDEN INDUSTRIAL AND 146.68 £55 £8,100 £55.22 ESTATE, TIVERTON, DEVON, PREMISES EX16 5GZ UNITS 28 & 29, WAREHOUSE MOUNTBATTEN ROAD, AND 182.05 £55 £9,800 £53.83 TIVERTON, DEVON, EX16 6SW PREMISES UNIT A AT 160, CHAPEL WAREHOUSE STREET, TIVERTON, DEVON, AND 190.61 £42 £7,000 £36.72 EX16 6DF PREMISES 7A, WOODWARD ROAD, WAREHOUSE HOWDEN INDUSTRIAL AND 204.34 £49 £10,250 £50.16 ESTATE, TIVERTON, DEVON, PREMISES EX16 5GZ WAREHOUSE UNIT 14, LOWMAN WAY, AND 223.99 £68 £11,250 £50.23 TIVERTON, DEVON, EX16 6SR PREMISES

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications WATERMANS, BOLHAM WAREHOUSE ROAD, TIVERTON, DEVON, AND 238.37 £40 £10,250 £43.00 EX16 6SG PREMISES UNIT A1 BROOKLANDS, WAREHOUSE HOWDEN INDUSTRIAL AND 248.4 £60 £7,300 £29.39 ESTATE, TIVERTON, DEVON, PREMISES EX16 5HW UNIT 4 AT 6, WOODWARD WAREHOUSE ROAD, HOWDEN INDUSTRIAL AND 255.74 £48 £11,250 £43.99 ESTATE, TIVERTON, DEVON, PREMISES EX16 5GZ WAREHOUSE UNIT 9, LOWMAN WAY, AND 256.8 £63 £16,000 £62.31 TIVERTON, DEVON, EX16 6SS PREMISES THE BIKE FARM HIGHFIELD, WAREHOUSE EAST ANSTEY, TIVERTON, AND 267.75 £33 £6,600 £24.65 DEVON, EX16 9JU PREMISES WAREHOUSE UNIT 10, LOWMAN WAY, AND 275.14 £63 £14,500 £52.70 TIVERTON, DEVON, EX16 6SR PREMISES UNIT 4, MOUNTBATTEN WAREHOUSE ROAD, TIVERTON, DEVON, AND 281.04 £58 £10,000 £35.58 EX16 6SW PREMISES WAREHOUSE OLD TIVERTON SAWMILLS, STACKING BLUNDELLS ROAD, TIVERTON, 337.69 £34 £19,250 £57.00* LAND AND DEVON, EX16 4DE PREMISES UNITS 4 & 5, CHINON COURT, WAREHOUSE LOWER MOOR WAY, AND 356.72 £59 £25,750 £72.19* TIVERTON, DEVON, EX16 6SS PREMISES WAREHOUSE UNIT 17, LOWMAN WAY, AND 400.53 £63 £15,250 £38.07 TIVERTON, DEVON, EX16 6SR PREMISES 1C, STATION ROAD, WAREHOUSE BAMPTON, TIVERTON, AND 456 £26 £11,750 £25.77 DEVON, EX16 9NG PREMISES WAREHOUSE UNIT 18, LOWMAN WAY, AND 456.36 £63 £18,750 £41.09 TIVERTON, DEVON, EX16 6SS PREMISES PYRAMID HOUSE 1, WAREHOUSE TIVERTON WAY, TIVERTON, AND 498.42 £53 £30,250 £60.69* DEVON, EX16 6TG PREMISES

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications WAREHOUSE 4, TIVERTON WAY, TIVERTON, AND 520.94 £52 £30,250 £58.07* DEVON, EX16 6TG PREMISES UNIT 3, MILLENNIUM PLACE, WAREHOUSE TIVERTON BUSINESS PARK, AND 541.26 £65 £36,750 £67.90* TIVERTON, DEVON, EX16 6SB PREMISES WOTTON OF TIVERTON, WAREHOUSE HOWDEN ROAD, TIVERTON, AND 544.84 £37 £21,250 £39.00* DEVON, EX16 5HL PREMISES BARUM AUTO PARTS LTD, WAREHOUSE BLUNDELLS ROAD, TIVERTON, AND 571.68 £20 £13,000 £22.74* DEVON, EX16 4BZ PREMISES UNIT 3A, WOODLAND WAREHOUSE BUSINESS PARK, AND 589.6 £36 £20,500 £34.77 BURLESCOMBE, TIVERTON, PREMISES DEVON, EX16 7LL UNIT 3, HARRIS COURT, WAREHOUSE KENNEDY WAY, TIVERTON, AND 625.65 £43 £24,000 £38.36 DEVON, EX16 6RZ PREMISES LORDS MEADOW LANE, WEST WAREHOUSE STREET, BAMPTON, AND 818.46 £28 £20,250 £24.74 TIVERTON, DEVON, EX16 9NY PREMISES HALSGROVE HOUSE, LOWER WAREHOUSE MOOR WAY, TIVERTON, AND 883.48 £50 £32,500 £36.79 DEVON, EX16 6SS PREMISES UNIT 1 TIVERTON WAY, WAREHOUSE TIVERTON BUSINESS PARK, AND 952 £41 £38,750 £40.70 TIVERTON, DEVON, EX16 6SR PREMISES HEARD & SENDELL, LEAT WAREHOUSE STREET, TIVERTON, DEVON, AND 1029.21 £22 £22,000 £21.38 EX16 5LG PREMISES UNIT 1 HIGHER ALLSHIRE, WAREHOUSE EAST ANSTEY, TIVERTON, AND 1094.55 £15 £13,500 £12.33 DEVON, EX16 9JG PREMISES 1, ORMIDALE SQUARE, WAREHOUSE LOWMAN WAY, TIVERTON, AND 1129.62 £46 £37,750 £33.42 DEVON, EX16 6TW PREMISES 2, ORMIDALE SQUARE, WAREHOUSE LOWMAN WAY, TIVERTON, AND 1179.66 £46 £37,250 £31.58 DEVON, EX16 6TW PREMISES

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£/m2 £/m2 Headline Average Rateable Address Description Size (m2) Annual Annual Value Rental Rental Indications Indications UNITS 1-2/4-6 & 19, WAREHOUSE LOWMAN WAY, TIVERTON, AND 1380.73 £35 £41,000 £29.69 DEVON, EX16 6SR PREMISES WAREHOUSE 2, LOWMAN WAY, TIVERTON, AND 1448.43 £45 £71,000 £49.02 DEVON, EX16 6SR PREMISES UNIT 3, TIVERTON TRADE WAREHOUSE CENTRE, LOWMAN WAY, AND 1535.4 £35 £50,000 £32.56 TIVERTON, DEVON, EX16 6SR PREMISES PENNYMOOR TIMBER, WAREHOUSE PENNYMOOR, TIVERTON, AND 1586.57 £17 £21,250 £13.39 DEVON, EX16 8LS PREMISES UNIT 27, MOUNTBATTEN WAREHOUSE ROAD, TIVERTON, DEVON, AND 1681.11 £30 £45,500 £27.07 EX16 6SW PREMISES UNITS 4-6, MILLENNIUM WAREHOUSES PLACE, TIVERTON BUSINESS AND 1966.93 £43 £80,000 £40.67 PARK, TIVERTON, DEVON, PREMISES EX16 6SB REUTERS LTD FINSBURY WAREHOUSE HOUSE, LOWMAN WAY, AND 2108.79 £32 £69,000 £32.72 TIVERTON, DEVON, EX16 6SS PREMISES UNIT 3 WOODLAND WAREHOUSE BUSINESS PARK, AND 2370.59 £27 £63,000 £26.58 BURLESCOMBE, TIVERTON, PREMISES DEVON, EX16 7LL 5, WOODWARD ROAD, WAREHOUSE HOWDEN INDUSTRIAL AND 2412.43 £23 £60,500 £25.08 ESTATE, TIVERTON, DEVON, PREMISES EX16 5GZ TRAVIS PERKINS, BLUNDELLS WAREHOUSE ROAD, TIVERTON, DEVON, AND 3395.92 £17 £67,000 £19.73 EX16 4BU PREMISES ASTON MANOR, HOWDEN WAREHOUSE ROAD, TIVERTON, DEVON, AND 13517.63 £20 £216,000 £15.98 EX16 5HL PREMISES Average: 1123.13 £43 £31,618 £39 *VOA valuation also allows for additional items e.g. car parking, air conditioning systems, fenced land etc. which accounts for a high average rental indication in some cases.

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Supermarkets

£/m2 Headline £/m2 Average Size Rateable Address Description Annual Rental Annual Rental (m2) Value Indications Indications Crediton / Cullompton / Tiverton TESCO STORES, EXETER SUPERSTORE ROAD, CREDITON, DEVON, AND 5976 £205 £1,200,000 £200.80 EX17 3FD PREMISES TESCO, WHITTON WAY, SUPERSTORE CULLOMPTON, DEVON, EX15 AND 3537 £215 £815,000 £230.42* 1FT PREMISES SUPERSTORE MORRISONS, KENNEDY WAY, AND 4522.2 £200 £900,000 £199.02 TIVERTON, DEVON, EX16 6RZ PREMISES TESCO STORES, BLUNDELLS SUPERSTORE ROAD, TIVERTON, DEVON, AND 6007.8 £200 £1,150,000 £191.42 EX16 4BY PREMISES Average: 5010.75 £205 £1,016,250 £205 *VOA valuation allows for additional items in this case, petrol forecourt and shop which accounts for the higher average rental indication in some cases.

Convenience Stores

£/m2 £/m2 Headline Average Rateable Name Address Size (m2) Annual Annual Value Rental Rental Indications Indications Tesco Express 36, HIGH STREET, CREDITON, 281.42 £200 £27,250 £96.83 DEVON, EX17 3JP

Co-op Local 17, MARKET WALK, TIVERTON, 1104.4 £320 £79,000 £71.53 DEVON, EX16 6BL

Co-op Local 23, FORE STREET, CULLOMPTON, 147.5 £185 £16,750 £113.56 DEVON, EX15 1JS 2, THE SQUARE, UFFCULME, Co-op Local CULLOMPTON, DEVON, EX15 147.5 £185 £16,750 £113.56 3AA Average: 420.2 £223 £34,938 £99 Lowest Value (Headline): £185.00 Highest Value(Headline): £320.00

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Commercial Context

RICS Commercial Property Market Survey February 2014

Headline reads: “RICS Commercial Property Survey shows widespread recovery across the sectors”

Occupier Market “Occupier demand has now been growing for five quarters in succession, with the series (which measures the change relative to the previous quarter) now standing at its most elevated level on record. It should be emphasised that this uptick in demand was preceded by a sustained period of relatively weak or falling demand during the financial crisis. Nevertheless, the gathering momentum is encouraging and likely to be further supported by the ongoing surge in employment numbers. Meanwhile, available space has now been in decline for three straight periods. The magnitude of this supply and demand imbalance increased during Q4.

The tighter real estate market is now placing upward pressure on rents, where further impetus is anticipated to build. Indeed, since emerging from negative territory during Q2 2013, the RICS Rental Expectations series has become increasingly positive in each subsequent period. The IPD Rental Index shows rents to have increased by around 1% in annual terms in the final quarter of 2013. This corresponds to the strongest year on year growth rate in the post-crisis era.

Significantly, development starts have now been on the rise for two consecutive quarters, a consequence of the improved outlook. To put this in context, prior to the last two readings, the RICS New Development Starts indicator had not shown an increase since 2007. At the sector level, our figures show tenant demand is climbing across all areas of the market. The industrial sector remains the front runner, although retail has experienced marked improvement over the last three quarters.

The RICS Rental Expectations series points to improved growth rates within both the office and industrial sectors in the year ahead. Interestingly, the data is now suggesting that retail rents will pick up materially over the course of 2014.”

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Investment Market “Investment market sentiment has also picked up considerably within recent surveys. Investment enquiries, according to the RICS numbers, have been consistently improving since the back end of 2012. Significantly, the rate at which investor interest has risen also appears to have accelerated throughout each quarter.

Likewise, respondents are projecting future investment transactions to maintain their upward trajectory in the coming three months. This is fuelling capital value expectations which continue to rise, suggesting greater gains look probable in the coming months.

The IPD All Property Capital Value Index shows commercial property asset prices to have risen by 4.3% in yearly terms (Q4). Observing quarterly rates gives a clear illustration as to the strength of this pick up throughout the second half of 2013. Q3 and Q4 quarterly growth rates came in at 1.3% and 2.9% respectively, with the latter representing the fastest pace by some margin since 2010. However, despite the recent upturn capital values are still around 30% below the level found in 2007.”

Twelve Month expectations “The RICS 12 month indicators are consistent with a continuation of the current upturn in commercial property market sentiment. The economic recovery is widely forecast to gain further traction in 2014 and this will feed into the commercial real estate market.

Meanwhile, capital values are expected to increase by an average of 4% over the course of 2014. This figure has risen by one percentage point relative to respondent’s forecast in the third quarter. In terms of the sector breakdown, again, industrial units are expected to see the largest gains, approximately 5%. Capital values in the office sector are anticipated to grow by an estimated 3.5%, whilst in the retail sector gains of around 3% are projected (chart 8). At the regional level, commercial prices are expected to increase by 7.5% in London, 4.5% in the south, and around 3% in the north and midlands

Over the next year, survey respondents are estimating headline rental growth to be in the region of 3.5%. This is a significant improvement when compared to their 2% projection put forward in Q3, and indicative of greater confidence spreading throughout the market. At the sector level, the industrial segment exhibits the strongest expectations for rental gains, which stand at just over 4.5%. Meanwhile, the office and retail sectors are anticipated to see rents rise by approximately 3% and 2% respectively. Turning to the regional outlook,

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London is the area cited by surveyors to see the greatest rental growth during 2014, at 7%. On the same basis, rents are expected to grow around 3% in both the north and the south, whilst this figure is just over 2.5% for the midlands.”

RICS Commercial Property Market Survey (Update May 2014) Headline reads: “Occupier market conditions tighten while investment activity rises.

 Tenant demand rises while availability falls  Investor interest continues to build, pushing capital value expectations higher  Firmer tone to the data is broadening out across regions and sectors”

“The Q1 2014 RICS UK Commercial Property Market Survey highlights a continued strengthening in both the occupier and investment sectors. This improvement is becoming increasingly broad based in both sectoral and regional terms; this is no longer just a London offices story.

At the all-sector level, occupier demand increased while availability fell. With the market tightening, rents are expected to pick up further and the value of tenant inducements are falling. This broad pattern is also evident across the three subsectors (retail, office and industrial) and the survey’s broad four regional groupings (London, the South, Midlands/Wales and the North).

While London offices are still the outperforming market segment, it is increasingly apparent in the survey that the market, ex-London offices, is beginning to shift up a gear. This is a welcome development given how unbalanced the commercial real estate sector had become in recent years and reflects the broader economic recovery underway.

In the investment market, buyer enquiries accelerated further at the all-sector level, pushing up survey respondents’ confidence in the outlook for capital values. Again, the regional and sector breakdown of the results indicate that this improvement is taking place not just in London and not just in the office sector.

The survey comments bear out a few interesting anecdotal points. First, while conditions in some secondary markets clearly remain challenging, there is a growing sense that some office tenants are beginning to revaluate the economics of renting prime versus secondary

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Mid Devon District Council D|S|P Development & Viability Consultants office space. Second, availability in some markets is falling not just because of strong tenant demand, but also because part of the stock is being converted for residential use.

Over the next twelve months, rents are projected to rise by around 4.5% in the office sector, by approximately 5.5% in the industrial segment and by just over 3% in the retail sector. On the same basis, capital values are forecast to increase by roughly 5% and 6% in the office and industrial sectors respectively, while retail sector gains are expected to be a slightly more modest 3%. Source: RICS UK Commercial Market Survey Q1 2014

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Savills: Commercial Market in Minutes (April 2014) Headline reads: “Regional revival for investment and occupier demand”

Yields still trending downwards

 “Several sectors saw prime yields move lower during March. City of London and provincial Offices moved in by 25 bps. Multi-let industrials also fell by the same amount. Six other sectors are currently experiencing downward pressure on their yields.  The average prime yield across the range of sectors is now approaching 5%. In comparison, IpD 'average' equivalent yields are just over 7%.  The yield gap is below 200 basis points and has been moving lower since the end of last year, but IpD yields are still moving lower and faster than the prime measure. We believe that this is due to rising investor interest in secondary assets.  While a smaller net proportion has usually been attributable to the institutions, the fact that they have recently been net disinvestors is interesting. Is this a blip or are some investors already locking in profit?  The chart also has annual capital growth, which is currently running at 5.5% per annum and showing signs of accelerating further during the next few months.  In the direct market, at present, not many UK funds are without requirements, with the weight of money leading to larger lot size requirements and greater interest in good secondary stock.  The usual story remains in that investor requirements out-weigh the available stock in the market. However, there is an anticipation of more stock coming through in the short-term, due to profit-taking and bank-led sales.”

Clearer signs of regional appetite

 Anecdotal evidence has pointed towards increased investment 'rippling' out from London and the South East. The market outside of the South East attracted a larger share of total investment during 2013, but was still below past trends.  However, now that we have Q1 data, graph 2 looks at the quarterly average investment levels for two five-year periods either side of the last major recession in the UK (Q1 2009). The quarterly average for the South East has moved from £960m in 2004-2008, to £770m in 2009-2013, but only £530m for the first quarter of this year.

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 Graph 2 shows the significant increase in some of the UK regions. It is clear from the data of the ripple-out from London and the South East has impacted. There has been above average investment, compared to the 2004-2008 period, in the Midlands, in particular, Yorkshire & The Humber, East of England and Wales.  However, some of these regions will have been lower during Q1 2014 due to the severe lack of liquidity. This may well be exacerbated in the future by rising domestic and international investor interest in the regions.

The growth of the SME

 “Surprisingly, small and medium-sized enterprises (SMEs) account for approximately 99.9% of UK businesses, by number. As a definition, SMEs can employ up to 250 employees.  A significant proportion of employment is within SMEs, with the Department of business Innovation & Skills (bIS) estimating it to be around 59% of private sector employment. The property requirement from this sector is significant. A recent report from gE Capital said that 12% of SMEs expect to increase capital spending by 12% over the coming year and plan to create 660,000 jobs. Of course, there is some spare capacity within their property, but this must also create additional floorspace demand in our view.

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 More than half expect to hire new staff. However, it is also encouraging to see that 14% need to move to larger/better quality premises, 5% hope to make improvements to their property and 4% expect to acquire new/additional premises. These percentages may not be that large, but as a sample of the SMEs market, could translate into a much more buoyant level of occupier demand.  In support of the gE Capital's findings, bIS have recently released their SME business barometer. On the whole, confidence levels have improved and many businesses expect to employ more people over the next 12 months and anticipate higher turnover. Two-thirds of businesses aim to grow their business over the next 2- 3years.”

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Other Commercial Research – April 2014

DSP have carried out additional commercial property values research across the district. Information has been gathered from various agents as listed in the table below.

Note: Additional research on available land for sale is included within the next section.

Size Price per Freehold Address Agent Type Comments (m2) Sq.m Guide Price Freehold Crediton Helmores 119 INDUSTRIAL £1,092 £130,000 Brand new commercial unit Old Market Field Industrial Estate, Drew Pearce 4 OFFICE £15,000 £60,000 Witheridge 21 High Street, Devon Sales & Mixed use development opportunity includes 3-bed 142 RETAIL £1,761 £250,000 Crediton Lettings maisonette. Includes storage building. Westex South, Seddons 162 RETAIL £1,451 £235,000 Additional first floor storage. Tiverton High Street, Crediton Helmores 47.2 RETAIL £3,177 £149,950 Includes 2-bed maisonette. Former church. Currently D1 use but particulars indicate St Peters Street, Greenslade 333 RETAIL £225 £75,000 (subject to planning conditions) this premises would be Tiverton Taylor Hunt ideal for tea rooms or craft centre / gallery. Chulmleigh Helmores 6 RETAIL £5,833 £35,000 Shop with possible office use (STP) Bradleys Estate High Street, Crediton 257.26 RETAIL £972 £250,000 Accommodation across three floors - prime retail position. Agents Union Road Helmores n/a RETAIL n/a £200,000 2x lock up shops with 2-bed flat over. Average: £3,689 £153,883

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Size Price per Leasehold Guide Address Agent Type Comments (m2) Sq.m Price pa Leasehold The Old Sawmill, Butterleigh, near Seddons 1115 INDUSTRIAL £21 £23,000 Includes mezzanine. Price per sq.ft = £1.9. Cullompton Service charge £395 + VAT plus ground rent Lowman Units, Tiverton Seddons 399 INDUSTRIAL £50 £20,000 charge of £10 + VAT pa Devon Sales & Large workshop currently being used by a Coldridge, Crediton 195 INDUSTRIAL £28 £5,400 Lettings joiner/carpenter. Cleaveanger Farm, Devon Sales & 278 LEISURE £43 £12,000 Currently used as a community centre Coldridge Lettings Old Market Field Industrial Drew Pearce 4 OFFICE £1,250 £5,000 Estate, Witheridge Minimum lease length of 3 years by Tiverton Seddons 185 OFFICE £46 £8,500 negotiation. South View Estate, Willand, Seddons 131.8 OFFICE £64 £8,500 Cullompton Recently build by Devonshire Homes. Mixed use Bampton Street, Tiverton Seddons n/a RETAIL n/a £425,000 scheme commercial and residential. Average: £215 £63,425

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Stakeholder Consultation

As part of the information gathering process, DSP invited a number of local stakeholders to help contribute by providing local market residential / commercial values information in order to help inform our study assumptions, alongside our own research, experience and judgements – by way of a survey / pro-forma (containing suggested assumptions) supplied by email by DSP for comment. The introductory email contained a short introduction about the project, it also explained the type of information we required and assured participants that any information they may provide would be kept in confidence, respecting commercial sensitivities throughout the whole process.

The list of stakeholders contacted is listed below: -

Development Industry Barratts Persimmon Homes Devonshire Homes Stevens Homes K F Farleigh Ltd Greendale Stags Fulfords Land & Planning Harcourt Kerr

DCC Development Management (South)

Locke Son & Newcombe Forward Planning Bell Cornwell Natural England Bell Cornwell Rendells Locke Son & Newcombe

Other stakeholders contacted as part of the information gathering process includes: East Devon District Council, Exeter City Council and Devon County Council together with locally active Registered Providers (RPs).

The response rate overall was limited. However, this is not unusual for this type of process in DSP’s wide experience of undertaking CIL and other strategic level viability testing. There

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However, any information / comments that were provided as a result of this consultation helped to inform and check / support our assumptions and are noted within the ‘Feedback Log’ (below) and the report text.

Feedback Log

Market information collected from various local agents / developers operating in the Mid Devon area for residential and commercial sales / lettings (general market conditions and values) and, where possible, land values.

Note: Some information provided to DSP through the consultation process is sensitive and is therefore not displayed below.

Agent / Comments Date Developer Commercial Respondent 1 Respondent provided information on greenfield land 1/05/2014 values Respondent 2 Respondent provided information on greenfield land 08/05/2014 values together with commercial rent and yield information. Respondent 3 Increase in the number of starter businesses looking for 15/04/2014 new premises. Increased demand for small Hotels and Guest Houses under £500,000 from buyers in the South East region. Agent also noted a rise in enquiries for quality holiday cottage complexes at prices between £1 Million up to £1.5 Million. Residential Respondent 1 Local agent indicated that the general market is 14/04/2014 picking up across all ranges but notes particular buyer activity around the £500,000 to £1m price bracket. Noted increase in relocations and up-sizing. Respondent 2 Feel good factor returning to the market with more 15/04/2014 buyers willing to pay full asking price for property. Market has been gradually improving since June 2013 and this is expected to continue through 2014. Respondent 3 Respondent provided information on new build 1/05/2014 house values generally. Respondent 4 Respondent provided information on new build 08/05/2014 house values generally together with build cost information.

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Land For Sale – March / April 2014

Source: www.rightmove.co.uk and various other agents’ websites

Size Price per Freehold Address Agent Comments (ha) ha / plot Guide Price Pasture / arable land. The land is sold subject to the Cheriton Fitzpaine, seller receiving 25% of the increase in value if Seddons n/a n/a £260,000 Crediton planning is granted for development within the next 25 years. Coldridge, Crediton Stags 12.8 £15,234 £195,000 Productive farm land and river meadows Includes Farm House, traditional barns with East Village, Crediton Savills 37.8 £39,683 £1,500,000 potential for alternative uses (STP), adaptable range of modern farm buildings and arable and pasture land. Huntsham Smiths Gore 12.86 £16,330 £210,000 Pasture land. Development plot with outline planning permission Kings Nympton, South Match on one half of the site for the erection of 8 0.68 £50,000 £399,950 Molton Property dwellings. The second half of the site has potential for further development STP. Land At Moorhayes Countryside Development site for 8 dwellings, pending outline Triange, Off Hayne 0.36 £375,000 £135,000 Auction planning permission Court, Tiverton

Strutt & Traditional brick barns with full planning permission Livingshayes, Silverton 0.4 £43,000 £300,000 Parker to convert into 7 individual residential dwellings ranging from 1-bed to 3-beds. Rackenford, Tiverton Stags 6.6 £20,455 £135,000 Farm land

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Size Price per Freehold Address Agent Comments (ha) ha / plot Guide Price Showbrooke, Crediton Stags 2.2 £31,818 £70,000 Mixed Farm Land Arable and pasture land, including modern farm Witheridge, Tiverton Savills 75.3 £20,651 £1,555,000 buildings and woodland. Potential for dairy farm.

Witheridge, Tiverton Savills 31.8 £22,799 £725,000 Productive arable and pasture land including modern farm buildings Witheridge, Tiverton Savills 18.8 £17,819 £335,000 Productive pasture land. Witheridge, Tiverton Savills 13.8 £18,841 £260,000 Productive arable and pasture land.

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Surrounding Land Value Benchmarks

Council Land Value Benchmarks

Mid-Devon Agricultural land - £12,000/ha (Previous Garden land - £250,000/ha Studies) Industrial land - £370,000/ha - £500,000/ha Food retail - £1,200,000/ha Large-scale greenfield - 10-20x agricultural value of £20,000/ha

Teignbridge Newton Abbot £250,000 - £540,000/ha Dawlish £390,000 - £400,000/ha Teignmouth £390,000 - £400,000/ha Rural Teignbridge £800,000/ha Large-scale greenfield – 10-20x agricultural value of £20,000/ha Agricultural land £20,000/ha Industrial Land £430,000/ha Land for Offices £550,000/ha Land for Retail £550,000 - £1,300,000/ha Industrial land values are noted to be approximately 25% lower in Dawlish and Teignbridge, the above is representative of Newton Abbot. East Devon Coast & Sidmouth £900,000 - £1,000,000/ha Rural £900,000 - £1,000,000/ha Axminster £500,000 - £600,000/ha Honiton & Ottery £500,000 - £600,000/ha Exmouth & Seaton £500,000 - £600,000/ha Edge of Exeter £500,000 - £600,000/ha Large-scale greenfield - 10-20x agricultural value of £20,000/ha Offices £300,000/ha Offices edge of Exeter £400,000/ha Industrial/warehouse £250,000/ha Industrial/warehouse edge of Exeter £350,000/ha Retail/Leisure £800,000/ha Retail Supermarket £1,600,000/ha

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Council Land Value Benchmarks

Taunton Greenfield development: Deane Taunton £300,000 - £350,000/ha Wellington £200,000/ha Urban development: £800,000/ha Large-scale greenfield - 10-20x agricultural value of £20,000/ha Superstore £2,500,000/ha Supermarket £1,500,000/ha Retail £1,000,000/ha Retail Warehouse £1,500,000/ha Retail Taunton Town Centre £5,000,000/ha Retail Wellington £1,000,000/ha Office Taunton TC £1,000,000/ha Office Business Park £800,000/ha Industrial £640,000/ha Budget Hotel £800,000 Care Homes £1,200,000/ha South Report talks about using 3x Benchmarks for EUV, hope value and min land values (option agreements). Provides examples and talks about VOA Somerset £670,000/ha plus premium (variable). Supermarket £1,600,000/ha Retail Warehouse £1,600,000/ha Retail Town Centre £1,200,000/ha Local Retail £800,000/ha Office TC £2,400,000/ha Office Business Park £700,000/ha Industrial £670,000/ha Budget Hotel £700,000/ha Care Homes £1,200,000/ha Cornwall Urban High £1,300,000/ha Urban Med £750,000/ha Urban Low £350,000/ha Greenfield Low £200,000/ha Greenfield Med £300,000/ha

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Council Land Value Benchmarks

Greenfield High £360,000/ha £250,000 - £500,000/ha

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Extracts from the Estates Gazette Interactive to follow.

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EGi Town Report Prepared 02 June 2014

Area: Mid Devon (2012 Districts and Council Areas) Map of Area

Area: Mid Devon (2012 Districts and Council Areas) Residential Property Prices

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

£400,000

£350,000

£300,000

£250,000

£200,000

£150,000

£100,000

£50,000

£0

Q102 Q202 Q302 Q303 Q403 Q104 Q105 Q205 Q305 Q306 Q406 Q107 Q108 Q208 Q308 Q309 Q409 Q110 Q111 Q211 Q311 Q312 Q412 Q113 Q402 Q103 Q203 Q204 Q304 Q404 Q405 Q106 Q206 Q207 Q307 Q407 Q408 Q109 Q209 Q210 Q310 Q410 Q411 Q112 Q212 Q213 Q313

Detached (Area) Semi Detached (Area) Terraced (Area) Flat / Maisonette (Area)

Detached (England & Wales) Semi Detached (England & Wales) Terraced (England & Wales) Flat / Maisonette (England & Wales)

Detached Detached Semi Semi Detached Terraced (Area) Terraced Flat / Maisonette Flat / Maisonette (Area) (England & Detached (England & (England & (Area) (England & Wales) (Area) Wales) Wales) Wales)

Q102 £172,261 £185,800 £95,395 £105,954 £84,050 £92,107 £47,393 £126,638 Q202 £176,513 £196,366 £111,768 £114,841 £94,719 £101,860 £55,271 £137,877 Q302 £222,216 £219,026 £125,492 £126,199 £106,535 £108,918 £58,484 £143,494 Q402 £221,285 £221,392 £123,090 £127,742 £104,619 £107,957 £66,977 £142,553 Q103 £240,249 £228,465 £135,970 £130,060 £110,815 £108,295 £81,883 £142,440 Q203 £222,719 £231,193 £135,665 £133,991 £107,432 £111,775 £100,946 £144,824 Q303 £238,468 £246,781 £147,014 £144,120 £120,014 £120,667 £71,245 £152,551 Q403 £240,703 £246,266 £142,731 £146,628 £125,731 £123,521 £92,451 £155,821 Q104 £243,328 £253,913 £146,536 £150,221 £126,111 £127,290 £80,170 £160,592 Q204 £263,215 £261,723 £167,339 £159,115 £135,874 £135,889 £113,530 £167,404 Q304 £277,121 £283,351 £168,380 £170,862 £143,243 £143,924 £103,151 £172,681 Q404 £261,396 £281,271 £173,082 £168,679 £148,243 £140,687 £121,528 £170,501 Q105 £268,052 £285,708 £174,472 £168,719 £140,508 £141,868 £108,660 £171,690 Q205 £279,336 £283,925 £178,457 £170,607 £138,999 £145,173 £111,932 £175,201 Q305 £294,069 £299,864 £173,512 £177,092 £149,876 £152,123 £110,802 £176,466 Q405 £251,307 £292,316 £165,927 £174,760 £152,517 £151,121 £90,220 £175,124 Q106 £276,344 £296,283 £167,215 £175,632 £147,755 £153,977 £126,153 £178,983 Q206 £272,049 £299,927 £172,902 £180,666 £147,065 £159,488 £97,874 £184,309 Q306 £289,256 £319,224 £186,383 £190,234 £158,297 £167,958 £137,767 £187,865 Q406 £322,609 £313,167 £190,424 £187,990 £162,735 £164,896 £117,441 £188,113 Q107 £289,354 £323,409 £193,285 £189,661 £160,444 £168,339 £104,361 £194,290 Q207 £300,637 £327,900 £192,494 £194,653 £162,548 £173,725 £113,089 £198,245 Q307 £363,639 £349,737 £211,068 £205,721 £172,477 £183,528 £112,925 £204,742 Q407 £338,731 £340,903 £200,018 £200,002 £182,153 £177,559 £111,679 £197,629 Q108 £301,851 £342,620 £196,744 £197,543 £176,330 £174,189 £116,789 £199,594 Q208 £295,104 £337,615 £193,274 £196,424 £177,058 £175,101 £109,624 £202,543 Q308 £310,710 £346,215 £199,584 £195,912 £169,031 £177,475 £89,487 £198,048 Q408 £296,499 £314,477 £179,489 £181,012 £155,511 £159,614 £109,725 £181,649 Q109 £269,330 £299,936 £165,594 £175,142 £154,684 £155,559 £104,062 £179,350 Q209 £272,779 £293,449 £170,635 £176,237 £145,932 £164,414 £109,313 £187,748 Q309 £291,489 £318,334 £181,670 £191,721 £157,464 £181,078 £90,231 £202,700 Q409 £274,108 £314,217 £182,435 £190,558 £157,876 £179,289 £110,706 £199,769 Q110 £309,121 £338,689 £177,621 £201,652 £157,763 £190,840 £108,568 £215,516 Q210 £325,061 £330,162 £176,380 £198,886 £169,014 £186,795 £122,764 £218,462 Q310 £306,723 £353,399 £198,828 £209,840 £166,643 £199,311 £116,855 £224,764 Q410 £299,804 £335,398 £191,729 £197,916 £161,127 £186,689 £100,491 £216,741 Q111 £302,093 £340,929 £174,393 £199,242 £163,890 £190,030 £109,692 £226,280 Q211 £320,091 £323,306 £189,815 £194,172 £152,396 £186,250 £117,245 £222,587 Q311 £316,714 £340,841 £190,583 £204,202 £158,298 £196,830 £107,223 £226,830 Q411 £304,341 £323,155 £180,789 £195,196 £172,378 £184,358 £110,872 £217,951 Q112 £257,416 £316,035 £187,660 £197,732 £154,203 £187,806 £102,752 £220,582 Q212 £294,831 £326,478 £186,916 £199,272 £163,659 £198,073 £121,284 £237,742 Q312 £304,157 £341,846 £191,593 £208,145 £167,189 £209,867 £111,767 £242,776 Q412 £286,002 £323,791 £191,717 £200,824 £156,225 £196,261 £118,931 £239,922 Q113 £286,079 £329,188 £184,481 £199,665 £150,300 £198,153 £97,103 £243,652 Q213 £312,171 £327,772 £181,044 £203,442 £162,706 £201,360 £107,125 £248,471 Q313 £324,421 £346,571 £211,052 £215,893 £164,202 £216,757 £109,471 £260,440

The accuracy of the house price data source has improved. This improvement has now been applied to past quarters *Please note that if prices are shown as '£0' no data is available for the corresponding centre. Data is not available for Scotland Retail Requirements Profile

Area: Mid Devon (2012 Districts and Council Areas) Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Information from EGi's Retail Requirements Service. Requirements relate to the centre name in Drivetime and Radius reports, however in Local Authority reports requirements are an accumulation of centres in the contour.

Retailer Number of Type Requirements in this area Accessories & Jewellery 7 Antiques & Art 1 Books Video & Music 2 Cards & Stationery 7 Cash & Carry 1 Clothing 32 CoffeeShops 5 Crafts Hobbies & Toys 3 Department Store and Variety Store 0 Drink & CTN 0 Electrical & Computer Goods 5 Estate Agents 0 Fast Food Take Away 22 Furniture 0 Hardware & DIY 4 Mobile Phones / Telecommunications 0 Pharmacy Health & Beauty 15 Restaurants Bars & Cafes 27 Services - Financial 3 Services - Motor 2 Sports 14 Supermarket 0 Travel agent 1

0 5 10 15 20 25 30 35 Accessories & Jewellery Antiques & Art Books Video & Music Cards & Stationery Cash & Carry Clothing CoffeeShops Crafts Hobbies & Toys Department Store and Variety Store Drink & CTN Electrical & Computer Goods Estate Agents Fast Food Take Away Furniture Hardware & DIY Mobile Phones / Telecommunications Pharmacy Health & Beauty Restaurants Bars & Cafes Services - Financial Services - Motor Sports Supermarket Travel agent Retail Rents

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Colliers International has provided its estimated prime retail rents for key In Town locations throughout the UK.

Prime In Town Retail Rents £1

£1

Zone A (£psf) Rent A Zone £0

£0

Year - Figures published every June

Provided by Colliers International © - July 2013 The Colliers International In-Town rents database provides estimates of net effective prime Zone A rents for over 400 locations in Great Britain. The figures represent zone sizes appropriate for the location and are expressed in £ per sq ft.

For further information, please contact Mark Charlton, Head of Research and Forecasting, Colliers International – [email protected] / +44 20 7487 1720.

*Please note that if rent values are shown as '£0' no data is available for the corresponding years. Only the top ten centres whose rents are highest in 2013 are graphed.

Estimated Zone A Rents Town 1987 2005 2006 2007 2008 2009 2010 2011 2012 2013 Retail Profile

Area: Mid Devon (2012 Districts and Council Areas) © Retail Locations 2006 Base: Great Britain Contact Retail Locations on 020 8559 1944 A listing of the retailers in this catchment area, by type. Index figures over 100 www.retaillocations.co.uk suggest a greater than usual concentration of this type in this area.

Data for Data as % Data for Data as % Index area for area base for base av=100

Type of Store

Accessories & Jewellery 0 0% 2,902 2% 0 Antiques & Art 0 0% 807 1% 0 Books Video & Music 0 0% 960 1% 0 Cards & Stationery 1 1% 1,809 1% 70 Cash & Carry 0 0% 438 0% 0 Clothing 12 11% 21,786 16% 70 CoffeeShops 2 2% 3,153 2% 80 Crafts Hobbies & Toys 0 0% 1,077 1% 0 Department Store and Variety Store 5 5% 4,874 4% 130 Drink & CTN 0 0% 2,855 2% 0 Electrical & Computer Goods 3 3% 3,216 2% 118 Estate Agents 3 3% 3,778 3% 100 Fast Food Take Away 4 4% 7,013 5% 72 Furniture 0 0% 1,225 1% 0 Hardware & DIY 10 9% 5,859 4% 216 Mobile Phones / Telecommunications 5 5% 3,440 2% 184 Pharmacy Health & Beauty 13 12% 13,664 10% 120 Restaurants Bars & Cafes 8 7% 18,711 14% 54 Services - Financial 18 17% 12,840 9% 177 Services - Motor 12 11% 13,457 10% 113 Sports 1 1% 1,748 1% 72 Supermarket 9 8% 9,314 7% 122 Travel agent 3 3% 2,989 2% 127

109 1 137915 Key Retail Profile

Area: Mid Devon (2012 Districts and Council Areas) Mid Devon (2012 Districts and Council Areas) © Retail Locations 2006 Base: Great Britain Contact Retail Locations on 020 8559 1944 A listing of key UK retailers and their presence or requirements in this catchment area. www.retaillocations.co.uk Requirements relate to the centre name in Drivetime and Radius reports, however in Local Authority reports requirements are an accumulation of centres in the contour.

Retailer Count of branches in Requirements this area Argos 1 0 Boots 2 0 Carphone Warehouse 1 2 Claire's 0 0 Clarks 1 1 Costa Coffee 2 1 Domino's Pizza 0 - Greggs 1 0 Holland & Barrett 1 0 KFC 0 0 Marks & Spencer 0 - McDonald's 2 0 Monsoon Accessorize 0 0 New Look 1 0 Next 0 - Phones 4U 1 0 Pizza Express 0 0 Primark 0 - Sainsbury's 0 1 Starbucks 0 1 Subway 1 1 Superdrug 1 1 Tesco 5 0 Waterstone's 0 - WH Smith 2 0

*Please note that if values are '-' then no requirement data is available Office Availability

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Data provided by EGPropertyLink - all live availability records are listed. The 20 most recent on the market are displayed, click on the filter arrows to view more. Use the listed URL to view more details of these properties.

Date Postcode Address Type Agents Floorspace Rental Asking URL Price Cullompton Business http://www.egi.co.uk/R ParkAlexandria For Sale,To esearch/AvailabilityDet 01/11/2013 EX15 1BS Road Industrial Alder King Let ail.aspx?hdnSelectedI Estate DList=3298192 CULLOMPTON EX15 1BS

Unit 3, 4 & 5Chinon http://www.egi.co.uk/R Court Lower esearch/AvailabilityDet 01/09/2013 EX16 6SS To Let Alder King 144 - 566 sq m Mallway TIVERTON ail.aspx?hdnSelectedI EX16 6SS DList=3406787

http://www.egi.co.uk/R Westward Business Stratton esearch/AvailabilityDet 20/02/2012 EX17 1HB Centre Crediton To Let Creber 42 - 757 sq m ail.aspx?hdnSelectedI EX17 1HB Commercial DList=4376374 Office Deals Listing

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

The 20 most recent deals for this area and sector are displayed below, click on the arrows on the date heading to show all the deals.

Date Postcode Address Type Lessee/ Total Space Price Rental PSM Yield (%) Purchaser Aller Gate, Stoneyford, Lessee: Procam 444.073 Net 15/02/2013 EX15 1QQ Lease N/A £48.65 N/A Cullompton, Devon, Limited sq m EX15 1QQ

Hartnoll Business Lessee: Oakfield Centre, Post Hill, Independent Care 71.0702 Net 15/08/2012 EX16 4NG Lease N/A N/A N/A Tiverton, Devon, EX16 & Support sq m 4NG Services Limited

The Old Malthouse, Cockpit Hill, 159.42 Net sq 01/07/2012 EX15 1DF Sale N/A £85000 N/A N/A Cullompton, Devon, m EX15 1DF Westward Business Lessee: Centre, Mill Street, Trenovissick 74.7863 Net 01/09/2011 EX17 1HB Lease N/A £66.84 N/A Crediton, Devon, Domiciliary Care sq m EX17 1HB Agency Limited Pynes Hill Office Campus, Exeter 121.888 Net 22/06/2010 EX16 5PA Sale N/A £200000 N/A N/A Road, Exeter, Devon, sq m EX16 5PA

Devonshire Gate, Lessee: Swallow Court, A38, Protection Vessels 47.9376 Net 01/02/2010 EX16 7EJ Lease N/A £135.59 N/A Tiverton, Devon, EX16 International sq m 7EJ Limited

Devonshire Gate, Swallow Court, A38, Lessee: Go10 85.7488 Net 01/02/2010 EX16 7EJ Lease N/A £125.37 N/A Tiverton, Devon, EX16 Limited sq m 7EJ Hartnoll Business Centre, Post Hill, Lessee: G&L 71.0702 Net 01/05/2009 EX16 4NG Lease N/A £70.35 N/A Tiverton, Devon, EX16 Enterprises sq m 4NG Howden Industrial Estate, Fuelserv 566.983 Net 01/03/2009 EX16 5HW Depot, Palmerston Lease N/A N/A £9.00 N/A sq m Park, Tiverton, Devon, EX16 5HW 37 St. Peter Street, 175.585 Net 01/02/2009 EX16 6NW Tiverton, Devon, EX16 Sale N/A £200000 N/A N/A sq m 6NW Devonshire Gate, Swallow Court, A38, Lessee: Hydro- 61.8729 Net 15/08/2008 EX16 7EJ Lease N/A £133.34 N/A Tiverton, Devon, EX16 Logic Limited sq m 7EJ Hartnoll Business Centre, Post Hill, 21/07/2006 EX16 4NG Lease N/A 70 Net sq m N/A £78.57 N/A Tiverton, Devon, EX16 4NG Southernhay West, Purchaser: 371.609 Net 15/06/2006 EX16 5PA 10, Exeter, Devon, Sale Private N/A N/A N/A sq m EX16 5PA individual(s) Devonshire Gate, Swallow Court, A38, 13/02/2006 EX16 7EJ Lease N/A 62 Net sq m N/A £129.17 N/A Tiverton, Devon, EX16 7EJ Devonshire Gate, Swallow Court, A38, Lessee: On Quota 77.7592 Net 02/12/2005 EX16 7EJ Lease N/A £118.96 N/A Tiverton, Devon, EX16 Limited sq m 7EJ Station Road Industrial Estate, 94.8532 24/10/2005 EX15 3SE Station Road, Lease N/A N/A £52.71 N/A Gross sq m Cullompton, Devon, EX15 3SE Devonshire Gate, Lessee: Swallow Court, A38, 11.0554 Net 14/09/2005 EX16 7EJ Lease Butterworth Jones N/A £1085.45 N/A Tiverton, Devon, EX16 sq m & Co Limited 7EJ Pynes Hill Office Lessee: Alder Campus, Exeter 557.414 Net 02/06/2004 EX16 5PA Lease King Property N/A N/A N/A Road, Exeter, Devon, sq m Consultants EX16 5PA Southernhay West, Purchaser: Investment 18/06/1997 EX16 5PA 10, Exeter, Devon, Jackson-Stops & N/A £230000 N/A 10.74 Sale EX16 5PA Staff Limited 27 Higher Street, Lessee: Tilhill 163.973 30/01/1993 EX15 1AJ Cullompton, Devon, Lease N/A £48.79 N/A Forestry Limited Gross sq m EX15 1AJ Planning Applications - Office

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Planning applications for this use type in this area. The most recent 20 are displayed, use the filter arrows to display more.

Address Status Application Date Permission Date Subsector Proposed Size Units Planning Authority

Kingsmill Industrial Estate, Granary Court, Saunders Mid-Devon District App 25/04/2014 Business (B1a) 624 Gross sq m Way, Cullompton, Devon, Council EX15 1BS

The Mulberry Inn, Mid-Devon District Chestnut Close, Exeter, PPG 24/02/2014 09/05/2014 Business (B1a) N/A N/A Council Devon, EX6 6JH Verbeer Manor, Willand, Mid-Devon District Cullompton, Devon, EX15 PPG 20/01/2014 10/03/2014 Business (B1a) 875 Gross sq m Council 2PE Land At Ngr 305036 Business (B1a), 113872, Sampford Mid-Devon District OutPPG 23/08/2013 22/11/2013 Retail (A1), Retail 30 Gross sq m Peverell, Cullompton, Council (A3) Devon, EX15 1NS Rodleigh Farm, Hemyock, Residential (C3), Mid-Devon District Cullompton, Devon, EX15 PPG 02/08/2013 17/12/2013 Industrial (B8), N/A N/A Council 3RU Business (B1a) Aller Barton Farm, Aller Business (B1a), Units, Off A373, Mid-Devon District PPG 06/03/2013 27/09/2013 Industrial (B2), 145 Gross sq m Cullompton, Devon, EX15 Council Industrial (B8) 1QQ

Hitchcocks Farm, Industrial (B8), Hitchcocks Business Park, Business (B1a), Non- Mid-Devon District PPG 16/11/2012 07/05/2013 N/A N/A Uffculme, Cullompton, resi Institutional (D1), Council Devon, EX15 3BZ General

Sandparks Business Centre, Denners Way, Business (B1a), Mid-Devon District PPG 01/10/2012 30/01/2013 N/A N/A Cullompton, Devon, EX15 Business (B1c) Council 3XG Land At, Sampford Mid-Devon District Peverell, Tiverton, Devon, PPG 22/12/2011 16/02/2012 Business (B1a) 1175 Gross sq m Council EX16 7BJ

Creative Furniture, Exeter Residential (C3), Mid-Devon District Road, Crediton, Devon, PPG 10/08/2011 30/09/2011 Business (B1a), Non- 213 Gross sq m Council EX17 3BN resi Institutional (D1)

Land At Ngr 305045 114004, Jersey Farm, Mid-Devon District Ref 08/04/2011 Business (B1a) 650 Gross sq m Tiverton, Devon, EX16 Council 7EJ Maidendown Stage, A38, Business (B1a), Mid-Devon District Tiverton, Devon, EX16 PPG 11/01/2011 16/05/2011 526 Gross sq m Residential (C3) Council 7JX

Business (B1a), Industrial (B2), Land At Ngr 305036 Business (B1c), Retail 113872, Sampford Mid-Devon District OutRef 24/09/2009 (A5), Assembly & N/A N/A Peverell, Cullompton, Council Leisure (D2), Devon, EX15 1NS Residential (C3), Hotels (C1)

Land And Buildings At Ngr Retail (A1), Business 295634 112802, William Mid-Devon District PPG 18/09/2009 16/12/2009 (B1a), Residential N/A N/A Street, Tiverton, Devon, Council (C3), Residential (C3) EX16 6BJ Land At Ngr 305045 114004, Jersey Farm, Mid-Devon District Ref 29/05/2009 Business (B1a) 950 Gross sq m Tiverton, Devon, EX16 Council 7EJ Retail (A1), Retail Land To South Of, Exeter (A3), Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 4400 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Land At Ngr 305045 114004, Jersey Farm, Mid-Devon District With 29/10/2008 Business (B1a) N/A N/A Tiverton, Devon, EX16 Council 7EJ The Island, Lowman Green, Station Road, Business (B1a), Mid-Devon District PPG 06/07/2007 09/10/2007 400 Gross sq m Tiverton, Devon, EX16 Retail (A1) Council 4LA Land At, Mid Devon Business Park, Mid-Devon District App 07/05/2007 Business (B1a) 15 Units Cullompton, Devon, EX15 Council 2FS

Retail (A1), Sui Land To South Of, Exeter Generis, Retail (A3), Mid-Devon District Road, Crediton, Devon, PPG 22/12/2006 19/09/2008 Residential (C3), N/A N/A Council EX17 3PP Business (B1a), Business (B1c) Retail Availability

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Date Postcode Address Type Agents Floorspace Rental Asking Price URL

http://www.egi.co.uk/Rese Mill Street Crediton arch/AvailabilityDetail.asp 21/11/2013 EX17 1EY To Let Rapleys LLP EX17 1EY x?hdnSelectedIDList=349 9892 http://www.egi.co.uk/Rese Unit 2 Phoenix Lane arch/AvailabilityDetail.asp 01/11/2013 EX16 6LU TIVERTON EX16 To Let Alder King x?hdnSelectedIDList=347 6LU 1924 Victor HouseGreenham http://www.egi.co.uk/Rese Business Park arch/AvailabilityDetail.asp 28/02/2012 TA21 0LR For Sale,To Let DTZ Greenham x?hdnSelectedIDList=337 Wellington TA21 8199 0LR Retail Deals Listing

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

The 20 most recent deals for this area and sector are displayed below, click on the arrows on the date heading to show all the deals.

Date Postcode Address Type Lessee/ Total Space Price (£) Zone A Rent Yield (%) Purchaser 2 Phoenix Lane, 29.2642 Net sq 01/05/2014 EX16 6LU Tiverton, Devon, EX16 Lease N/A N/A £1620 N/A m 6LU The Hare & Hounds, 138 Chapel Street, 27/03/2014 EX16 6BZ Sale N/A 60 Seats £225000 N/A N/A Tiverton, Devon, EX16 6BZ 12-14 Fore Street, 71.5347 Net sq 01/03/2014 EX15 1JW Cullompton, Devon, Lease N/A N/A N/A N/A m EX15 1JW 12-14 Fore Street, 143.906 Net sq 01/03/2014 EX15 1JW Cullompton, Devon, Lease N/A N/A N/A N/A m EX15 1JW

Four Seasons, 18a 25/02/2014 EX17 3AH High Street, Crediton, Sale N/A N/A N/A N/A N/A Devon, EX17 3AH

56-62 Fore Street, 01/01/2014 EX15 1AA Cullompton, Devon, Sale N/A N/A £500000 N/A N/A EX15 1AA 27-29 Gold Street, 150.595 Net sq 01/10/2013 EX16 6QB Tiverton, Devon, EX16 Lease N/A N/A £22500 N/A m 6QB

Red Lion Hotel, 15/09/2013 EX16 9ES Rookery Hill, Tiverton, Sale N/A 4 Rooms £365000 N/A N/A Devon, EX16 9ES

2-2a Fore Street, 45.1505 Net sq 01/09/2013 EX16 6LH Tiverton, Devon, EX16 Lease N/A N/A N/A N/A m 6LH Mount Pleasant Inn, 01/08/2013 EX16 8NN Off B3137, Tiverton, Sale N/A 146 Seats £695000 N/A N/A Devon, EX16 8NN 3 Market Walk, 01/08/2013 EX16 6BL Tiverton, Devon, EX16 Lease N/A 91.23 Net sq m N/A £11500 N/A 6BL 18-20 Market Walk, Lessee: 436.826 Net sq 15/04/2013 EX16 6BL Tiverton, Devon, EX16 Lease N/A £60000 N/A Peacocks m 6BL The Fox & Hounds Purchaser: Country Hotel, A377, 01/01/2013 EX18 7JZ Sale Private N/A N/A N/A N/A Chulmleigh, Devon, individual(s) EX18 7JZ

Wallaces Farm Shop Lessee: & Restaurant, Combe 253.159 Net sq 26/11/2012 EX15 3UZ Lease Somerset Stamp N/A £12000 N/A Hill, Cullompton, m Auctions Devon, EX15 3UZ

The Kings Head, 33- 35 High Street, 23/11/2012 EX15 1AF Sale N/A 70 Seats £180000 N/A N/A Cullompton, Devon, EX15 1AF Cadeleigh Arms, Visitor's Hill, 15/11/2012 EX16 8HP Burnbridge Hill, Sale N/A 20 Seats N/A N/A N/A Tiverton, Devon, EX16 8HP Wiland Restaurant, Purchaser: Wiland Old Village, 17/08/2012 EX15 2PF Sale Private 80 Seats N/A N/A N/A Cullompton, Devon, individual(s) EX15 2PF Trout Inn, A396, 23/07/2012 EX16 8RJ Tiverton, Devon, EX16 Lease N/A 2 Rooms N/A £6000 N/A 8RJ The Prince Blucher, 98-102 West Exe 01/05/2012 EX16 5DH Sale N/A N/A £175000 N/A N/A South, Tiverton, Devon, EX16 5DH 38 Bampton Street, Lessee: Purple 118.079 Net sq 27/04/2012 EX16 6AH Tiverton, Devon, EX16 Lease N/A £10000 N/A Ukulele (The) m 6AH Planning Applications - Retail

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain 02/06/2014

Planning applications for this use type in this area. The most recent 20 are displayed, use the filter arrows to display more.

Address Status Application Date Permission Date Subsector Proposed Size Units Planning Authority

Land At Ngr 305036 113872, Sampford Peverell, Business (B1a), Retail Mid-Devon District OutPPG 23/08/2013 22/11/2013 300 Gross sq m Cullompton, Devon, EX15 (A1), Retail (A3) Council 1NS Land At Ngr 305036 113872, Sampford Peverell, Business (B1a), Retail Mid-Devon District OutPPG 23/08/2013 22/11/2013 350 Gross sq m Cullompton, Devon, EX15 (A1), Retail (A3) Council 1NS Land At Ngr 305036 113872, Sampford Peverell, Business (B1a), Retail Mid-Devon District OutPPG 23/08/2013 22/11/2013 300 Gross sq m Cullompton, Devon, EX15 (A1), Retail (A3) Council 1NS Land At Ngr 305036 113872, Sampford Peverell, Business (B1a), Retail Mid-Devon District OutPPG 23/08/2013 22/11/2013 350 Gross sq m Cullompton, Devon, EX15 (A1), Retail (A3) Council 1NS

122-123 High Street, Mid-Devon District PPG 24/12/2012 28/02/2013 Retail (A2) 96 Gross sq m Crediton, Devon, EX17 3LQ Council

Land & Buildings At N G R Residential (C3), Mid-Devon District 295350 112455, Angel Hill, PPG 23/05/2012 01/11/2012 N/A N/A Retail (A3) Council Tiverton, Devon, EX16 6PE

Harris Court, Kennedy Way, Mid-Devon District PPG 15/03/2012 26/04/2012 Retail (A1) N/A N/A Tiverton, Devon, EX16 6RZ Council

Land And Buildings At Ngr Residential (C3), 295634 112802, William Mid-Devon District PPG 02/02/2012 11/09/2012 Residential (C3), Retail 248 Gross sq m Street, Tiverton, Devon, Council (A1) EX16 6BJ Tesco Supermarket, Mid-Devon District Blundells Road, Tiverton, With 08/08/2011 Retail (A1) 1596 Gross sq m Council Devon, EX16 4BY Land And Buildings At Ngr Residential (C3), 295634 112802, William Mid-Devon District PPG 24/06/2011 22/09/2011 Residential (C3), Retail 356 Gross sq m Street, Tiverton, Devon, Council (A1) EX16 6BJ Land At N G R, Exeter Mid-Devon District Road, Crediton, Devon, PPG 12/08/2010 06/10/2010 Retail (A3) 751 Gross sq m Council EX17 3BH Land And Buildings At Ngr Retail (A1), Business 295634 112802, William Mid-Devon District PPG 18/09/2009 16/12/2009 (B1a), Residential (C3), N/A N/A Street, Tiverton, Devon, Council Residential (C3) EX16 6BJ Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 5519 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 571 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 N/A N/A Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 5519 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 571 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 N/A N/A Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 5519 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 571 Gross sq m Business (B1c), Sui Council EX17 3PP Generis Retail (A1), Retail (A3), Land To South Of, Exeter Business (B1a), Mid-Devon District Road, Crediton, Devon, OutPPG 16/02/2009 15/10/2009 N/A N/A Business (B1c), Sui Council EX17 3PP Generis Shopping Centre Details

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Details from EGi's Shopping Centre Research. The Shopping Centre Research database contains information on purpose-built retail schemes - shopping centre, retail park, factory outlet, or shopping park. The database focuses on schemes of in excess of 50.

Address Opening Date Total Size (sq Opening Anchor Tenants Owner(s) m) Hours Industrial Availability

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Date Postcode Address Type Agents Floorspace Rental Asking Price URL Cullompton Business http://www.egi.co.uk/Rese ParkAlexandria For Sale,To arch/AvailabilityDetail.asp 01/11/2013 EX15 1BS Road Industrial Alder King Let x?hdnSelectedIDList=329 Estate 8192 CULLOMPTON EX15 1BS Unit 2, Block A http://www.egi.co.uk/Rese Stratton Kentisbeare Nr arch/AvailabilityDetail.asp 21/06/2013 EX15 2BB To Let Creber Cullompton EX15 x?hdnSelectedIDList=346 Commercial 2BB 7480 Various London & http://www.egi.co.uk/Rese UnitsBlackdown Cambridge arch/AvailabilityDetail.asp 22/01/2013 EX15 2RU To Let Park Exeter EX15 Properties x?hdnSelectedIDList=343 2RU Ltd (LCP) 8775 Land at Greenham http://www.egi.co.uk/Rese Business Park For Sale,To arch/AvailabilityDetail.asp 28/02/2012 TA21 0LR Greenham DTZ Let x?hdnSelectedIDList=337 Wellington TA21 8200 0LR http://www.egi.co.uk/Rese Westward Business Stratton arch/AvailabilityDetail.asp 20/02/2012 EX17 1HB Centre Crediton To Let Creber 42 - 757 sq m x?hdnSelectedIDList=437 EX17 1HB Commercial 6374 Unit Y, Langlands http://www.egi.co.uk/Rese Stratton Business Park Nr arch/AvailabilityDetail.asp 20/02/2012 EX15 3DA To Let Creber Cullompton EX15 x?hdnSelectedIDList=437 Commercial 3DA 6369 Industrial Deals Listing

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

The 20 most recent deals for this area and sector are displayed below, click on the arrows on the date heading to show all the deals.

Date Postcode Address Type Lessee/ Total Space Price (£) Rental PSM Yield (%) Purchaser Durban Works, South View Road, 551.003 Net 01/05/2014 EX15 2RU Lease N/A N/A £22.71 N/A Cullompton, Devon, sq m EX15 2RU Durban Works, South View Road, 183.017 Net 01/05/2014 EX15 2RU Lease N/A N/A £27.02 N/A Cullompton, Devon, sq m EX15 2RU Durban Works, South View Road, 226.96 Net 01/05/2014 EX15 2RU Lease N/A N/A £26.48 N/A Cullompton, Devon, sq m EX15 2RU Greenham Business Park, Greenham, 139.353 Net 01/02/2014 TA21 0LR Lease N/A N/A £43.06 N/A Wellington, sq m Somerset, TA21 0LR Station Road Industrial Estate, Lessee: Private 90.4868 Net 01/10/2013 EX15 3SE Station Road, Lease N/A N/A N/A individual(s) sq m Cullompton, Devon, EX15 3SE Lords Meadow Industrial Estate, Lessee: ROTA 236.529 Net 15/06/2013 EX17 1HN Down End, Lease N/A £35.95 N/A Wheels sq m Crediton, Devon, EX17 1HN

Tiverton Business Park, Cedar Court, 82.1256 Net 10/06/2013 EX16 6GT Lowman Way, Lease N/A N/A N/A N/A sq m Tiverton, Devon, EX16 6GT

Greenham Business Park, Greenham, Lessee: Private 120.773 Net 18/04/2013 TA21 0LR Lease N/A £45.53 N/A Wellington, individual(s) sq m Somerset, TA21 0LR Warren Farm, Warren Farm, Lessee: Private 213.675 Net 01/04/2013 EX15 2BR Lease N/A £35.31 N/A Cullompton, Devon, Client sq m EX15 2BR

South View Estate Lessee: Industrial Estate, Babcock Blackdown Park, 1471.48 Net 20/03/2013 EX15 2RU Lease Learning and N/A £53.60 N/A South View Estate, sq m Development Cullompton, Devon, Partnership LLP EX15 2RU

Aller Gate, Lessee: Timber Stoneyford, 439.242 Net 15/02/2013 EX15 1QQ Lease Frame Company N/A £36.38 N/A Cullompton, Devon, sq m Limited (The) EX15 1QQ

Lords Meadow Industrial Estate, Lessee: Private 1997.4 Net 08/10/2012 EX17 1EU Marsh Road, Lease N/A £24.43 N/A individual(s) sq m Crediton, Devon, EX17 1EU

Tiverton Business Park, Pyramid Lessee: Treco 673.634 Net 01/08/2012 EX16 6TG House, Tiverton Lease N/A N/A N/A Limited sq m Way, Tiverton, Devon, EX16 6TG Greenham Business Park, Greenham, 139 Net sq 31/05/2012 TA21 0LR Lease N/A N/A N/A N/A Wellington, m Somerset, TA21 0LR Lords Meadow Industrial Estate, Purchaser: 767.373 Net 30/05/2012 EX17 1EU Marsh Road, Sale Parasol Group £2250000 N/A N/A sq m Crediton, Devon, Limited (The) EX17 1EU Lords Meadow Industrial Estate, Lessee: Mamka 2482.53 Net 15/12/2011 EX17 1EU Marsh Road, Lease N/A N/A N/A Limited sq m Crediton, Devon, EX17 1EU Durban Works, South View Road, Lessee: Private 226.96 Net 15/12/2011 EX15 2RU Lease N/A N/A N/A Cullompton, Devon, individual(s) sq m EX15 2RU

Kingsmill Industrial Estate, Granary Lessee: CNT 278.056 Net 15/09/2011 EX15 1BS Court, Saunders Lease N/A N/A N/A Mobility Limited sq m Way, Cullompton, Devon, EX15 1BS

Howden Industrial Estate, Fuelserv Lessee: Private 127.555 Net 02/09/2011 EX16 5HW Depot, Palmerston Lease N/A N/A N/A individual(s) sq m Park, Tiverton, Devon, EX16 5HW

Mid Devon Business Park, Lessee: Ethmar Court, 118.729 Net 01/08/2011 EX15 2QW Lease Parkway Taxis N/A N/A N/A South View Estate, sq m Limited Cullompton, Devon, EX15 2QW Planning Applications - Industrial

Area: Mid Devon (2012 Districts and Council Areas) Base: Great Britain

Planning applications for this use type in this area. The most recent 20 are displayed, use the filter arrows to display more.

Address Status Application Date Permission Subsector Proposed Size Units Planning Date Authority

Menchine Farm, Mid-Devon Nomansland, Tiverton, App 28/04/2014 Industrial (B2) 534 Gross sq m District Devon, EX16 8NP Council

Tiverton Business Park, Mid-Devon Oaklands Office Complex, PPG 26/02/2014 24/04/2014 Industrial (B8) 722 Gross sq m District Tiverton Way, Tiverton, Council Devon, EX16 6TG

Hitchcocks Farm, Mid-Devon Hitchcocks Business Park, Industrial App 13/02/2014 1050 Gross sq m District Uffculme, Cullompton, (B1/2/8) Council Devon, EX15 3BZ

Copenhagen New Mid-Devon Bungalow, Bickleigh, With 08/10/2013 Industrial (B8) 500 Gross sq m District Tiverton, Devon, EX16 Council 8RQ

Land At Crossparks Farm, Mid-Devon Templeton, Tiverton, Ref 19/08/2013 Industrial (B2) N/A N/A District Devon, EX16 8QR Council

Willand Road Business Mid-Devon Park, B3181, Cullompton, PPG 16/08/2013 10/10/2013 Industrial (B8) 600 Gross sq m District Devon, EX15 2RF Council Residential Rodleigh Farm, Hemyock, Mid-Devon (C3), Industrial Cullompton, Devon, EX15 PPG 02/08/2013 17/12/2013 795 Gross sq m District (B8), Business 3RU Council (B1a)

Land At, Sampford Mid-Devon Peverell, Tiverton, Devon, OutPPG 04/07/2013 17/01/2014 Industrial (B2) N/A N/A District EX16 7BJ Council

Land And Buildings At, Mid-Devon Swinebridge, Tiverton, PPG 17/06/2013 06/08/2013 Industrial (B2) N/A N/A District Devon, EX16 5NA Council

Kingsmill Industrial Estate, Mid-Devon Granary Court, Saunders App 07/06/2013 Industrial (B8) 2817 Gross sq m District Way, Cullompton, Devon, Council EX15 1BS

Hitchcocks Farm, Mid-Devon Hitchcocks Business Park, PPG 15/05/2013 04/10/2013 Industrial (B8) 1515 Gross sq m District Uffculme, Cullompton, Council Devon, EX15 3BZ

Concrete Block Works, Mid-Devon Industrial Uffculme, Cullompton, App 02/05/2013 N/A N/A District (B1/2/8) Devon, EX15 3EP Council

Hitchcocks Farm, Mid-Devon Hitchcocks Business Park, PPG 29/04/2013 15/07/2013 Industrial (B8) 550 Gross sq m District Uffculme, Cullompton, Council Devon, EX15 3BZ

Aller Barton Farm, Aller Business (B1a), Mid-Devon Units, Off A373, PPG 06/03/2013 27/09/2013 Industrial (B2), 383 Gross sq m District Cullompton, Devon, EX15 Industrial (B8) Council 1QQ Aller Barton Farm, Aller Business (B1a), Mid-Devon Units, Off A373, PPG 06/03/2013 27/09/2013 Industrial (B2), 65 Gross sq m District Cullompton, Devon, EX15 Industrial (B8) Council 1QQ

Aller Barton Farm, Aller Business (B1a), Mid-Devon Units, Off A373, PPG 06/03/2013 27/09/2013 Industrial (B2), 383 Gross sq m District Cullompton, Devon, EX15 Industrial (B8) Council 1QQ

Aller Barton Farm, Aller Business (B1a), Mid-Devon Units, Off A373, PPG 06/03/2013 27/09/2013 Industrial (B2), 65 Gross sq m District Cullompton, Devon, EX15 Industrial (B8) Council 1QQ

Lords Meadow Industrial Mid-Devon Estate, Marsh Road, PPG 14/01/2013 15/02/2013 Industrial (B2) N/A N/A District Crediton, Devon, EX17 Council 1EU

Industrial (B8), Hitchcocks Farm, Business (B1a), Mid-Devon Hitchcocks Business Park, PPG 16/11/2012 07/05/2013 Non-resi N/A N/A District Uffculme, Cullompton, Institutional Council Devon, EX15 3BZ (D1), General

Scotts Business Park, Mid-Devon Industrial Woodland Close, Tiverton, OutPPG 08/08/2012 02/10/2012 995 Gross sq m District (B1/2/8) Devon, EX16 9DN Council EGi -- Comparable Deals Data [Deals, Leases and Auctions] www.egi.co.uk

EGi -- Comparable Deals Data

Property Property Transaction Total Space Rental Income Lease Street Town Deal Date Type Sub Type Type Value UoM Price Yield % per annum per sq m Length Expiry Date Vendor/Lessor's Agent Notes South View Estate Cullompton 01/02/2014 Lease 109 Gross sq m 0 0.00 8,500 0 0.00 Seddons Estate Agents LLP Particulars:PDF
href="http://assets.egi.co.uk/PDFs/2013-02-20/200010780.pdf"
Asking rent per annum: £8500
Saunders Way Cullompton 05/05/2013 Industrial (B2)General Lease 462 Gross sq m 0 0.00 18,000 0 3.00 05/05/2016 target="_blank">PDF

Asking rent per annum: £8500 Warren Farm Cullompton 01/04/2013 Industrial (B1/B2/B8)Industrial Lease 214 Gross sq m 0 0.00 7,540 35 0.00 Seddons Estate Agents LLP A commercial unit with office space is situated on the Warren Farm South View Estate Cullompton 20/03/2013 Industrial (B1/B2/B8)General Lease 1,471 Gross sq m 0 0.00 79,000 54 12.00 20/03/2025 Vickery Holman Limited Rentaldevelopment price: £79,000on the outskirts pa.
of Grade Kentisbeare, of space: close Second-hand to the local Grade amenities B and Stoneyford Cullompton 15/02/2013 Industrial (B1/B2/B8)General Lease 439 Gross sq m 0 0.00 16,000 36 6.00 14/02/2019 Stratton Creber Commercial, Seddons Tiverton Way Tiverton 28/01/2013 Industrial (B2)General Sale 2,047 Gross sq m 975,000 0.00 0 0 0.00 StrattonEstate Agents Creber LLP Commercial Marsh Road Crediton 08/10/2012 Industrial (B1/B2/B8)Industrial Lease 1,997 Gross sq m 0 0.00 40,000 24 3.00 08/10/2015 Stratton Creber Commercial Tiverton Way Tiverton 01/08/2012 Industrial (B1/B2/B8)General Lease 674 Gross sq m 0 0.00 39,500 0 0.00 JLL Date on the market: 18/06/2012 S View Road Cullompton 15/07/2012 Industrial (B2)General Sale 10,749 Gross sq m 0 0.00 0 0 0.00 JLL South View Estate Cullompton 15/07/2012 Industrial (B2)Industrial Lease 113 Gross sq m 0 0.00 6,000 0 5.00 15/07/2017 Stratton Creber Commercial Marsh Road Crediton 30/05/2012 Industrial (B1/B2/B8)Industrial Sale 767 Gross sq m 2,250,000 0.00 0 0 0.00 Alder King Property Consultants This is the Brett Martin Daylight Systems premises. Woodland Close Tiverton 15/02/2012 Industrial (B2)General Lease 204 Gross sq m 0 0.00 0 0 0.00 Stratton Creber Commercial Marsh Road Crediton 15/12/2011 Industrial (B1/B2/B8)Industrial Lease 2,483 Gross sq m 0 0.00 56,000 0 7.00 15/12/2018 Stratton Creber Commercial South View Road Cullompton 15/12/2011 Industrial (B1/B2/B8)General Lease 227 Gross sq m 0 0.00 6,750 0 0.00 Stags Commercial Saunders Way Cullompton 15/09/2011 Industrial (B1/B2/B8)General Lease 278 Gross sq m 0 0.00 12,500 0 0.00 Vickery Holman Limited, Stratton Palmerston Park Tiverton 02/09/2011 Industrial (B1/B2/B8)General Lease 128 Gross sq m 0 0.00 7,500 0 0.00 StagsCreber Commercial Commercial Post Hill Tiverton 01/09/2011 Industrial (B1c)General Light Lease 418 Gross sq m 0 0.00 16,000 38 3.00 01/09/2014 Stratton Creber Commercial Barle Dulverton 15/08/2011 Industrial (B2)Industrial / Lease 142 Gross sq m 0 0.00 0 0 0.00 Business Property Network Barle Dulverton 15/08/2011 Industrial (B2)Industrial Lease 225 Gross sq m 0 0.00 0 0 0.00 Business Property Network South View Estate Cullompton 01/08/2011 Industrial (B1/B2/B8)Industrial Lease 119 Gross sq m 0 0.00 7,250 0 6.00 01/08/2017 Stratton Creber Commercial Four Cross Avenue Cullompton 01/06/2011 Industrial (B1/B2/B8)General Lease 319 Gross sq m 0 0.00 21,000 0 6.00 01/06/2017 Stratton Creber Commercial Freehold price: £345,000. Rental: Price on application. Date on the market: Post Hill Tiverton 01/02/2012 Industrial, (B1a)General Lease 269 Gross sq m 0 0.00 19,000 56 6.00 01/02/2018 Stratton Creber Commercial Asking12/10/2011 rent per annum: £14,500 Combe Hill Cullompton 26/11/2012 LeisureOffices (D2)Office, Lease 253 Gross sq m 0 0.00 12,000 0 0.00 Chesterton Humberts Asking rent per annum: £12000. Stoneyford Cullompton 15/02/2013 Offices (B1a)General Lease 444 Gross sq m 0 0.00 21,600 49 5.00 15/02/2018 Stratton Creber Commercial Cockpit Hill Cullompton 01/07/2012 Offices (B1a)Office Sale 159 Gross sq m 85,000 0.00 0 0 0.00 Vickery Holman Limited Exeter Hill Cullompton 01/05/2011 Offices (B1a)Office Sale 424 Gross sq m 250,000 0.00 0 0 0.00 Alder King Property Consultants Old Village Cullompton 15/09/2013 Other LandOffice Sale 2,023 Gross sq m 425,000 0.00 0 0 0.00 Drew Pearce Asking price: £425,000 (Freehold)
The size of the site area is 0.20 Hangman's Hill Tiverton 15/08/2013 Other Forestry Sale 171,504 Gross sq m 150,000 0.00 0 0 0.00 John Clegg & Co Particulars: The planning consent provides for demolition of Gipsy Lane Wellington 27/07/2011 Residential (C3) Sale 1,115 Gross sq m 950,000 0.00 0 0 0.00 Alder King Property Consultants, target="_blank">PDF

Asking price: £150,000 (Freehold).
Fore Street Cullompton 01/03/2014 Retail (A1)General Lease 144 Gross sq m 0 0.00 0 0 0.00 SavillsStags Commercial Can be amalgamated with unit 12 - total rent for both units: £17,500 per Gold Street Tiverton 01/10/2013 Retail (A1)General Lease 151 Gross sq m 0 0.00 22,500 0 0.00 Haarer & Goss, Seddons Estate Particulars: Grade href="http://assets.egi.co.uk/PDFs/2013-03-14/200005678.pdf" of space: Second-hand (Retail) Market Walk Tiverton 15/04/2013 Retail (A1)General Lease 437 Gross sq m 0 0.00 60,000 0 10.00 15/04/2023 GVA,Agents Larkman LLP Edgcumbe Subjecttarget="_blank">PDF
to 5 yearly, upward only,
rent Askingreview. rent
per Asking annum: rent £22500. per annum:
Bampton Street Tiverton 27/04/2012 Retail (A1)General Lease 118 Gross sq m 0 0.00 10,000 0 5.00 27/04/2017 Alder King Property Consultants Date£60000 on
the market: Grade of11/05/2012 space: Second-hand (Retail) Fore Street Cullompton 31/03/2012 Retail (A1)General Sale 119 Gross sq m 199,950 0.00 0 0 0.00 Christie + Co Bampton Street Tiverton 30/01/2012 Retail (A1)General Lease 421 Gross sq m 0 0.00 0 0 0.00 High Street Crediton 15/08/2011 Retail (A1)General Lease 123 Gross sq m 0 0.00 15,000 0 5.00 15/08/2016 Stratton Creber Commercial Storage space has been taken at £3 per sq ft. Station Road Cullompton 18/05/2011 Retail (A1)General Investment Sale 236 Gross sq m 391,025 6.10 23,000 183 25.00 25/03/2020 Hempton Franks, Cliffe-Roberts Bird Bampton Street Tiverton 01/05/2011 Retail (A1)Foodstore/ Investment Sale 226 Gross sq m 270,000 7.07 20,000 0 15.00 30/01/2022 StrattonLimited Creber Commercial Tenants repairing liability restricted to £40,000 upon default/breach of General covenant.

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EGi -- Comparable Deals/Auctions Data - Exported 08/05/2014

Transaction Deal/Auction Total space Rental income Lease type Street Town date Use type Sub use type Size UoM Price Yield % per annum per sq Asking rent? Rent review length (years) Expiry date Incentives Notes Vendor/Lessor’s agent Lease South View Cullompton 01/02/2014 Office - Business Park (B1a) 109 Net sq m Not quoted £8,500 Undisclosed Particulars:PDF - Seddons Estate Agents LLP Sale OldEstate Village Cullompton 15/09/2013 General Site Area 2,023 Net sq m £425,000 Not quoted Undisclosed Askinghttp://assets.egi.co.uk/PDFs/2013- price: £425,000 (Freehold) Drew Pearce Lease Down End Crediton 15/06/2013 Industrial / Distribution Mixed Industrial - B1, B2, B8 237 Net sq m Not quoted £8,500 £35.95 Yes 6 15/06/2019 Particulars:PDFThe size of the site - area is 0.20 Aaron Fox Limited Lease Saunders Way Cullompton 05/05/2013 Industrial / Distribution Industrial(B1/2/8) Park (B1/2/8) 462 Net sq m Not quoted £18,000 3 05/05/2016 http://assets.egi.co.uk/PDFs/2013- Lease Warren Farm Cullompton 01/04/2013 Industrial / Distribution Mixed Industrial - B1, B2 (B1/2) 214 Net sq m Not quoted £7,540 £35.31 Undisclosed A commercial unit with office space Seddons Estate Agents LLP Lease South View Cullompton 20/03/2013 Industrial / Distribution Mixed Industrial - B1, B2, B8 1,471 Net sq m Not quoted £79,000 £53.60 Yes 12 20/03/2025 Rentalis situated price: on £79,000the Warren pa. Farm Vickery Holman Limited Lease StoneyfordEstate Cullompton 15/02/2013 Industrial / Distribution Mixed(B1/2/8) Industrial - B1, B2, B8 439 Net sq m Not quoted £16,000 £36.38 6 14/02/2019 Grade of space: Second-hand Stratton Creber Commercial Sale Tiverton Way Tiverton 28/01/2013 Industrial / Distribution Industrial(B1/2/8) Park (B1/2/8) 2,047 Net sq m £975,000 Not quoted Undisclosed Stratton Creber Commercial Lease Marsh Road Crediton 08/10/2012 Industrial / Distribution Mixed Industrial - B1, B2, B8 1,997 Net sq m Not quoted £40,000 £24.43 3 08/10/2015 Stratton Creber Commercial Lease Tiverton Way Tiverton 01/08/2012 Industrial / Distribution Mixed(B1/2/8) Industrial - B1, B2, B8 674 Net sq m Not quoted £39,500 Undisclosed Date on the market: 18/06/2012 JLL Sale S View Road Cullompton 15/07/2012 Industrial / Distribution Industrial(B1/2/8) Park (B1/2/8) 10,749 Net sq m Not quoted Not quoted Undisclosed JLL Lease South View Cullompton 15/07/2012 Industrial / Distribution Industrial Park (B1/2/8) 113 Net sq m Not quoted £6,000 15/07/2015 5 15/07/2017 Stratton Creber Commercial Sale MarshEstate Road Crediton 30/05/2012 Industrial / Distribution General Industrial (B2) 767 Net sq m £2,250,000 Not quoted Undisclosed This is the Brett Martin Daylight Alder King Property Consultants Lease Woodland Close Tiverton 15/02/2012 Industrial / Distribution Industrial Park (B1/2/8) 204 Net sq m Not quoted Not quoted Undisclosed Systems premises. Stratton Creber Commercial Lease South View Road Cullompton 15/12/2011 Industrial / Distribution General Industrial (B2) 227 Net sq m Not quoted £6,750 Undisclosed Stags Commercial Lease Marsh Road Crediton 15/12/2011 Industrial / Distribution Mixed Industrial - B1, B2, B8 2,483 Net sq m Not quoted £56,000 15/12/2015 7 15/12/2018 Stratton Creber Commercial Lease Saunders Way Cullompton 15/09/2011 Industrial / Distribution Mixed(B1/2/8) Industrial - B1, B2, B8 278 Net sq m Not quoted £12,500 Undisclosed Vickery Holman Limited Lease Howden Tiverton 02/09/2011 Industrial / Distribution General(B1/2/8) Industrial (B2) 128 Net sq m Not quoted £7,500 Undisclosed Stags Commercial Lease PostIndustrial Hill Estate Tiverton 01/09/2011 Industrial / Distribution Light Industrial / Business Units 418 Net sq m Not quoted £16,000 £38.21 3 01/09/2014 Stratton Creber Commercial Lease South View Cullompton 01/08/2011 Industrial / Distribution General(B1c) Industrial (B2) 119 Net sq m Not quoted £7,250 01/08/2014 6 01/08/2017 Stratton Creber Commercial Lease FourEstate Cross Cullompton 01/06/2011 Industrial / Distribution Mixed Industrial - B1, B2, B8 319 Net sq m Not quoted £21,000 01/06/2014 6 01/06/2017 Freehold price: £345,000. Rental: Stratton Creber Commercial Lease PostAvenue Hill Tiverton 01/02/2012 Industrial / Distribution, Light(B1/2/8) Industrial / Business Units 339 Net sq m Not quoted £19,000 £56.08 01/02/2015 6 01/02/2018 AskingPrice on rent application.Date per annum: £14,500 on the Stratton Creber Commercial Sale Hangman's Hill Tiverton 15/08/2013 LandOffice Forestry(B1c), Office (B1a) 343,009 Net sq m £150,000 Not quoted Undisclosed Particulars:PDF - John Clegg & Co Sale Saunders Way Cullompton 27/09/2011 Land Commercial Land 243,414 Net sq m £200,680 Not quoted Undisclosed http://assets.egi.co.uk/PDFs/2013- Alder King Property Consultants Sale Mazard Tree Hill South Molton 15/06/2011 Land Farmland 186,152 Net sq m £128,000 Not quoted Undisclosed Stags Commercial Sale A361 Tiverton 15/06/2011 Land Farmland 457,286 Net sq m £250,000 Not quoted Undisclosed Stags Commercial Sale Rixey Lane Crediton 15/05/2011 Land Farmland 134,434 Net sq m £85,000 Not quoted Undisclosed Stags Commercial Lease Stoneyford Cullompton 15/02/2013 Office Office (B1a) 444 Net sq m Not quoted £21,600 £48.65 5 15/02/2018 Stratton Creber Commercial Sale Cockpit Hill Cullompton 01/07/2012 Office Office (B1a) 159 Net sq m £85,000 Not quoted Undisclosed Vickery Holman Limited Sale Exeter Hill Cullompton 01/05/2011 Office Government Office (B1a) 424 Net sq m £250,000 Not quoted Undisclosed Alder King Property Consultants Lease Fore Street Cullompton 01/03/2014 Retail General Retail (A1) 144 Net sq m Not quoted Not quoted Undisclosed Can be amalgamated with unit 12 - Savills Lease Gold Street Tiverton 01/10/2013 Retail General Retail (A1) 151 Net sq m Not quoted £22,500 Undisclosed Particulars:PDFtotal rent for both - units: £17,500 per Seddons Estate Agents LLP Lease Market Walk Tiverton 15/04/2013 Retail General Retail (A1) 437 Net sq m Not quoted £60,000 10 15/04/2023 Subjecthttp://assets.egi.co.uk/PDFs/2013- to 5 yearly, upward only, rent GVA Lease Bampton Street Tiverton 27/04/2012 Retail General Retail (A1) 118 Net sq m Not quoted £10,000 5 27/04/2017 Datereview. on the market: 11/05/2012 Alder King Property Consultants Sale Fore Street Cullompton 31/03/2012 Retail General Retail (A1) 119 Net sq m £199,950 Not quoted Undisclosed Christie + Co Lease Bampton Street Tiverton 30/01/2012 Retail General Retail (A1) 421 Net sq m Not quoted Not quoted Undisclosed Lease High Street Crediton 15/08/2011 Retail General Retail (A1) 123 Net sq m Not quoted £15,000 5 15/08/2016 Storage space has been taken at £3 Stratton Creber Commercial Investment Sale Station Road Cullompton 18/05/2011 Retail Foodstore/Supermarket (A1) 236 Net sq m £391,025 6.10 £23,000 # 25/03/2000, 25 25/03/2020 per sq ft. Hempton Franks Investment Sale Bampton Street Tiverton 01/05/2011 Retail General Retail (A1) 226 Net sq m £270,000 7.07 £20,000 # 30/01/2012,25/03/2005, 15 30/01/2022 Tenants repairing liability restricted to Stratton Creber Commercial 30/01/2017 £40,000 upon default/breach of * The maximum number of records returned in one spreadsheet cannot exceed 1,000 records; If you wish to receive more data then please contact our Client Support team ([email protected]) * To sort these details please select the rows horizontally from the headings row downwards and then sort by heading

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EGi Availability Report - Exported 08/05/2014

Type of Sub Date on Asking Per annum Asking Street Town Unit description Unit size (sq m) tenure Use type use type Grade of space market Under offer? rent (£ psm) rent price Lease length Last updated Uffculme Cullompton Store, Ground floor offices and 217 Leasehold Office Business (B1a) Second-hand Grade 09/09/2013 No Not quoted £20,000 Not quoted Not quoted 04/21/2014 Lower Moor Way Tiverton Suite1st floor 5 offices 140 Leasehold Office Business (B1a) Second-handB Grade 00:00:00 No Not quoted Not quoted Not quoted Not quoted 04/01/201400:00:00 Lower Moor Way Tiverton Suite 4 213 Leasehold Office Business (B1a) Second-handB Grade No Not quoted Not quoted Not quoted Not quoted 04/25/201400:00:00 Lower Moor Way Tiverton Suite 3 213 Leasehold Office Business (B1a) Second-handB Grade 07/21/2012 No Not quoted Not quoted Not quoted Not quoted 04/15/201414:11:16 A38 Tiverton The Curve 1175 Leasehold Office - Business Business (B1a) NewB - New Build (pre- 00:00:00 No Not quoted Not quoted Not quoted Not quoted 04/21/201400:00:00 Belle Parade Crediton Entire Building 850 Freehold OfficePark Business (B1a) Second-handconstruction) Grade No Not quoted Not quoted £0.25 m Not quoted 05/13/201300:00:00 Market Street Crediton Entire Building 163 Leasehold Office Business (B1a) Second-handB Grade 03/17/2014 No £73.41 £12,000 Not quoted Not quoted 04/15/201410:02:12 Mill Street Crediton Various Units 1288 Leasehold Light Industrial / Business (B1c) Second-handB Grade 00:00:00 No Not quoted Not quoted Not quoted Not quoted 04/21/201416:10:59 Off Saunders Cullompton 01 36400 Leasehold or SiteBusiness Area Units General NewB - New Build (pre- 05/14/2012 No Not quoted Not quoted Not quoted Not quoted 04/15/201400:00:00 PostWay Hill Tiverton Storage Compound 4047 LeaseholdFreehold Storage Area General Second-handconstruction) Grade 00:00:00 No £7.00 £28,500 Not quoted Not quoted 04/21/201400:00:00 Station Road Tiverton Plot 4 15799 Leasehold or Site Area General NewB - New Build (pre- 08/30/2012 No Not quoted Not quoted Not quoted Not quoted 11/14/201300:00:00 Station Road Tiverton Plot 1 19137 LeaseholdFreehold or Site Area General Newconstruction) - New Build (pre- 08/30/201200:00:00 No Not quoted Not quoted Not quoted Not quoted 11/14/201300:00:00 Station Road Tiverton Plot 3 21841 LeaseholdFreehold or Site Area General Newconstruction) - New Build (pre- 08/30/201200:00:00 No Not quoted Not quoted Not quoted Not quoted 11/14/201300:00:00 Station Road Tiverton Plot 2 22630 LeaseholdFreehold or Site Area General Newconstruction) - New Build (pre- 08/30/201200:00:00 No Not quoted Not quoted Not quoted Not quoted 11/14/201300:00:00 Mogworthy Lane Tiverton Ground 21529 Freehold Site Area General Notconstruction) Applicable 00:00:00 Yes Not quoted Not quoted £0.43 m Not quoted 04/01/201400:00:00 Fordton Trading Crediton Land 3658 Freehold Land Area General Second-hand Grade 10/14/2011 No Not quoted Not quoted £0.18 m Not quoted 04/21/201400:00:00 ChestnutEstate Exeter Site Area 5059 Freehold Land Area General Second-handB Grade 02/07/201300:00:00 No Not quoted Not quoted £0.2 m Not quoted 01/15/201400:00:00 GreenhamCrescent Wellington Land 3237 Freehold Land Area General Second-handB Grade 02/28/201200:00:00 No Not quoted Not quoted Not quoted Not quoted 04/15/201411:10:56 Saunders Way Cullompton Development Land - Parcel 1 48967 Freehold Mixed Industrial - Industrial NewB - New Build (pre- 00:00:00 No Not quoted Not quoted £0.98 m Not quoted 04/01/201400:00:00 Saunders Way Cullompton Development Land - Parcel 2 83769 Freehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Newconstruction) - New Build (pre- No Not quoted Not quoted £0.43 m Not quoted 04/01/201400:00:00 Four Cross Cullompton Unit H1 319 Leasehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handconstruction) Grade 10/12/2011 No Not quoted Not quoted Not quoted Not quoted 04/21/201400:00:00 FourAvenue Cross Cullompton Unit H3 321 LeaseholdFreehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 10/12/201100:00:00 No Not quoted Not quoted £0.35 m Not quoted 04/21/201400:00:00 FourAvenue Cross Cullompton Unit H2 321 LeaseholdFreehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 10/12/201100:00:00 No Not quoted Not quoted Not quoted Not quoted 04/21/201400:00:00 SouthAvenue View Cullompton Unit C2 134 LeaseholdFreehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 00:00:00 No Not quoted £11,000 £0.21 m Not quoted 04/21/201400:00:00 SouthEstate View Cullompton Unit C1 140 LeaseholdFreehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No Not quoted £8,300 £0.15 m Not quoted 04/21/201400:00:00 SouthEstate View Cullompton Unit C4 231 LeaseholdFreehold or MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No Not quoted £13,700 £0.23 m Not quoted 04/21/201400:00:00 B3181Estate Cullompton Unit 2 816 LeaseholdFreehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 03/27/2014 No £53.93 £44,000 Not quoted Not quoted 04/29/201400:00:00 South View Cullompton Unit 3 183 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 06/07/201200:00:00 No £27.02 £4,950 Not quoted Not quoted 03/14/201409:47:46 SouthRoad View Cullompton Unit 5 227 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 06/07/201200:00:00 No £26.48 £6,000 Not quoted Not quoted 03/14/201400:00:00 SouthRoad View Cullompton Unit 12 281 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 04/10/201400:00:00 No Not quoted Not quoted Not quoted Not quoted 04/24/201400:00:00 SouthEstate View Cullompton Unit 15 281 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 04/10/201400:00:00 No Not quoted Not quoted Not quoted Not quoted 04/24/201416:38:16 SouthEstate View Cullompton Unit 13-14 375 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 04/10/201400:00:00 No Not quoted Not quoted Not quoted Not quoted 04/24/201416:38:22 SouthEstate View Cullompton Unit 1 551 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 06/07/201200:00:00 No £22.71 £12,500 Not quoted Not quoted 03/14/201416:38:28 LanglandsRoad Cullompton Unit Y 480 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 00:00:00 No £43.06 £20,660 Not quoted Not quoted 03/28/201400:00:00 LanglandsBusiness Park Cullompton Industrial Unit 558 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) NewB - New Build 02/20/2012 No £49.30 Not quoted Not quoted Not quoted 12/09/201315:36:16 HowdenBusiness Park Tiverton Unit 3 256 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-hand(existing) Grade 10/18/201200:00:00 No £51.67 Not quoted Not quoted Not quoted 07/22/201300:00:00 LowmanIndustrial WayEstate Tiverton Entire Building 2268 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 11/23/201100:00:00 No £55.11 Not quoted Not quoted Not quoted 04/17/201400:00:00 Marsh Road Crediton Storage Depot 245 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 02/24/201400:00:00 No £51.02 £12,500 Not quoted Not quoted 02/24/201400:00:00 Mill Street Crediton Showroom/Workshop Unit 714 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade 00:00:00 No £24.86 Not quoted Not quoted 0.5 years 03/14/201416:32:49 Down End Crediton Unit 5 238 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) NewB - Refurb No £35.74 £8,500 Not quoted 6 years 04/17/201400:00:00 Gipsy Lane Wellington Unit 6 116 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-hand(existing) Grade No £43.06 Not quoted Not quoted Not quoted 04/04/201400:00:00 Gipsy Lane Wellington Unit 5 116 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No £43.06 Not quoted Not quoted Not quoted 04/04/201400:00:00 Gipsy Lane Wellington Unit 4 116 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No £43.06 Not quoted Not quoted Not quoted 04/04/201400:00:00 Gipsy Lane Wellington Unit 11 126 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No £43.06 Not quoted Not quoted Not quoted 04/04/201400:00:00 Gipsy Lane Wellington Workshop 526 Leasehold MixedB1, B2, Industrial B8 - Industrial(B1/2/8) Second-handB Grade No £43.06 Not quoted Not quoted Not quoted 04/04/201400:00:00 Uffculme Cullompton Unit 1 554 Leasehold GeneralB1, B2, B8 Industrial(B1/2/8) (B2) Second-handB Grade 03/21/2014 No £58.66 £32,500 Not quoted Not quoted 04/21/201400:00:00 Uffculme Cullompton Unit 4 1579 Leasehold GeneralIndustrial Industrial (B2) Second-handB Grade 03/21/201400:00:00 No £56.73 £89,500 Not quoted Not quoted 04/21/201400:00:00 Bampton Street Tiverton Unit B - Phase 1 177 Long Leasehold or GeneralIndustrial Retail Retail (A1) DesignB & Build 00:00:00 No Not quoted £27,500 Not quoted Not quoted 04/15/201400:00:00 Fore Street Tiverton Ground 136 Leasehold General Retail Retail (A1) Second-hand (Retail) No Not quoted £27,500 Not quoted Not quoted 05/06/201400:00:00 Fore Street Tiverton Entire Building 260 Freehold General Retail Retail (A1) Second-hand (Retail) No Not quoted Not quoted £0.5 m Not quoted 04/11/201412:14:36 Fore Street Tiverton Ground 272 Leasehold General Retail Retail (A1) Second-hand (Retail) No Not quoted £39,500 Not quoted Not quoted 05/06/201412:22:23 Fore Street Tiverton Entire Building 391 Leasehold General Retail Retail (A1) Second-hand (Retail) No Not quoted £45,000 Not quoted Not quoted 03/31/201412:12:35 High Street Crediton Ground 118 Leasehold General Retail Retail (A1) Second-hand (Retail) 03/01/2014 No Not quoted £15,000 Not quoted Not quoted 03/28/201410:16:47 High Street Crediton Entire Building 522 Leasehold General Retail Retail (A1) Second-hand (Retail) 12/31/201300:00:00 No Not quoted £50,000 Not quoted Not quoted 03/14/201416:50:13 Mill Street Crediton Workshop and Showroom 714 Leasehold Mixed-use Retail Retail Second-hand (Retail) 00:00:00 No Not quoted £17,750 Not quoted 0.5 years 04/02/201400:00:00 High Street Cullompton Ground and 1st 125 Leasehold or Financial(A1/2/3/4/5, B1 Retail(A1/2/3/4/5) (A2) Second-hand (Retail) 03/01/2014 No Not quoted £17,500 £0.24 m Not quoted 03/27/201400:00:00 Freehold 00:00:00 15:22:46

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Appendix IV Glossary MID DEVON DISTRICT COUNCIL

LOCAL PLAN AND COMMUNITY INFRASTRUCTURE LEVY VIABILITY STUDY

GLOSSARY OF TERMS This glossary attempts to define some of the more commonly used terms within viability studies carried out by DSP. It is not an exhaustive list and in most cases, the report itself explains any acronyms and provides definitions. Note – since the introduction of the National Planning Policy Framework in March 2012, all previous Planning Policy Statements have been replaced by the NPPF. References have been included within this Glossary for information purposes only.

Abnormal Development Costs - Costs that are not allowed for specifically within normal development costs. These can include costs associated with unusual ground conditions, contamination, etc.

Affordable Housing - The National Planning Policy Framework defines affordable housing as:

Social rented, affordable rented and intermediate housing, provided to eligible households whose needs are not met by the market. Eligibility is determined with regard to local incomes and local house prices. Affordable housing should include provisions to remain at an affordable price for future eligible households or for the subsidy to be recycled for alternative affordable housing provision.

Social rented housing is owned by local authorities and private registered providers (as defined in section 80 of the Housing and Regeneration Act 2008), for which guideline target rents are determined through the national rent regime. It may also be owned by other persons and provided under equivalent rental arrangements to the above, as agreed with the local authority or with the Homes and Communities Agency.

Affordable rented housing is let by local authorities or private registered providers of social housing to households who are eligible for social rented housing. Affordable D|S|P Housing & Development Consultants Appendix IV Rent is subject to rent controls that require a rent of no more than 80% of the local market rent (including service charges, where applicable).

Intermediate housing is homes for sale and rent provided at a cost above social rent, but below market levels subject to the criteria in the Affordable Housing definition above. These can include shared equity (shared ownership and equity loans), other low cost homes for sale and intermediate rent, but not affordable rented housing.

Affordable Rented housing – See definition above.

Base Build Costs - for construction only (excluding fees, contingencies and extras) as explained in the study.

BH/BF - preceded by a number – abbreviations used to indicate how many bedrooms a dwelling has.

BREEAM - the Building Research Establishment Environmental Assessment Methodology which assesses the sustainability credentials of industrial, commercial and institutional buildings.

Building Cost Information Services (BCIS) - A subscriber service of RICS to facilitate the exchange of detailed building construction costs. The service is available from an independent body to those of any discipline who are willing and able to contribute and receive data on a reciprocal basis.

C Capital value - The value of a building or land as distinct from its rental value.

Cash flow - The movement of money by way of income, expenditure and capital receipts and payments during the course of a development.

Cascade Mechanism/Principle - A Cascade is a mechanism which enables the form and/or quantum of affordable housing provision to be varied according to the availability of grant funding, thus ensuring that at least a base level of need-related

D|S|P Housing & Development Consultants Appendix IV accommodation is provided without compromising overall scheme viability. The approach aids delivery of both the market and affordable tenures by providing adaptability where needed, thus avoiding the need to renegotiate Section 106 agreements with the time delays and cost issues that process brings.

Charging Authority – is the Local Planning Authority as defined by section 37 of the Planning and Compulsory Purchase Act 2004 for England.

Charging schedule – sets out the rates of CIL which will apply in the authority’s area. This involves consultation and independent examination.

Code for Sustainable Homes (‘CfSH’, ‘CSH’ or ‘Code’) - CLG is proposing to gradually tighten building regulations to increase the energy efficiency of new homes and thus reduce their carbon impact. In parallel with these changes to the building regulations, the CfSH has been introduced as a tool to encourage house builders to create more sustainable dwellings, and to inform buyers/occupiers about the green credentials of new housing. CfSH compliance, to levels over those generally operated in the market, is also compulsory for all public (HCA) funded affordable housing development. The Code is intended to provide a route map, signalling the direction of change towards low carbon sustainable homes that will become mandatory under the building regulations. The Code, again in parallel with building regulations and other initiatives, also covers a wider range of sustainability requirements – beyond lower carbon.

Community Infrastructure Levy - A levy allowing local authorities to raise funds from owners or developers of land undertaking new building projects in their area. Charging authorities must express CIL rates as pounds per square metre, as CIL will be levied on the gross internal floorspace of the net additional liable development. The published rate(s) within an authority’s charging schedule will enable liable parties to anticipate their expected CIL liability.

Commuted Sum - See “Payment in lieu” below.

Core Strategy - The key Development Plan Document (‘DPD’) through which a local authority sets out its strategic planning approach for its area. Accompanied by other DPDs, usually dealing with aspects such as site allocations or regeneration areas, and

D|S|P Housing & Development Consultants Appendix IV in some cases covering particular topics such as affordable housing (see below for other definitions). See also Local Plan.

Current Use Value - Market Value on the special assumption reflecting the current use of the property only and disregarding any prospect of development other than for continuation/expansion of the current use

Density (‘Indicative Density’) - Represents the intensity of use of a site by way of how many dwellings (or in some cases other measures such as habitable rooms) are provided on it. Usually described by reference to ‘dwellings per hectare’ (DPH).

Development Appraisal - A financial appraisal of a development to calculate either: (i) the residual site value (deducting all development costs, including an allowance for the developer's profit/return, from the scheme's total capital value); or (ii) the residual development profit/return (deducting all development costs, including the site value/cost, from the scheme's total capital value). The appraisal(s) would normally look to determine an approximate Residual Land Value (RLV). Assuming a developer has already reached the initial conclusion that, in principle, a site is likely to be suitable and viable for development, an appraisal is then carried out to fine tune scheme feasibility and discover what sum they can afford to pay for the site. This would normally be subject to a range of caveats and clauses based on circumstances unknown to the developer at the time of making an offer. As an example, an offer could be subject to the granting of planning permission or subject to no abnormal conditions existing, etc.

Development Cost - This is the cost associated with the development of a scheme and includes acquisition costs, site-specific related costs, build costs, fees and expenses, interest and financing costs.

Development Plan (‘Plan’) - This includes adopted Local Plans, neighbourhood plans and the London Plan, and is defined in section 38 of the Planning and Compulsory Purchase Act 2004. (Regional strategies remain part of the development plan until they are abolished by Order using powers taken in the Localism Act. It is the government’s clear policy intention to revoke the regional strategies outside of London, subject to the outcome of the environmental assessments that are currently being undertaken.)

D|S|P Housing & Development Consultants Appendix IV Development Plan Document (DPD) - Spatial planning documents that are subject to independent examination, and together with any relevant regional plans, inform the planning policies for a local authority. They include a Core Strategy and also often cover site-specific allocations of land, area action plans and generic development control policies. See also Development Plan.

Developer’s Profit - The developer’s reward for risk taken in pursuing and running the project, required to secure project funding. This is the gross profit, before tax. It will usually cover an element of overheads, but varies. The profit element used in these appraisals is profit expressed as a percentage of Gross Development Value (the most commonly expressed way) although developers will sometimes use other methods, for example profit on cost.

Development Viability (or ‘Viability’) - The viability of the development - meaning its health in financial terms. A viable development would normally be one which proceeds (or at least there is no financial reason for it not to proceed) – it would show the correct relationship between GDV (see below) and Development Cost. There would be a sufficient gap between the GDV and Development Cost to support a sufficient return (developer’s profit) for the risk taken by the developer in pursuing the scheme (and possibly in this connection to support funding requirements), and a sufficiently attractive land value for the landowner. An un-viable scheme is one where a poor relationship exists between GDV and Development Cost, so that insufficient profit rewards and/or land value can be generated.

Existing Use Value (EUV) - is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller, in an arm's-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion, assuming the buyer is granted vacant possession of all parts of the property required by the business and disregarding potential alternative uses and any other characteristics of the property that would cause its Market value to differ from that needed to replace the remaining service potential at least cost (see also Current Use Value and Market Value).

D|S|P Housing & Development Consultants Appendix IV Edge of centre - For retail purposes, a location that is well connected and up to 300 metres of the primary shopping area. For all other main town centre uses, a location within 300 metres of a town centre boundary. For office development, this includes locations outside the town centre but within 500 metres of a public transport interchange. In determining whether a site falls within the definition of edge of centre, account should be taken of local circumstances.

Finance - Costs associated with financing the development cost. Varying views are taken on the length of the relevant construction projects as to how long these costs need to be carried for on each occasion.

Financial Contribution - see “Payment in lieu”.

G Gross external area (GEA) - The aggregate superficial area of a building taking each floor into account. As per the RICS Code of Measuring Practice this includes: external walls and projections, columns, piers, chimney breasts, stairwells and lift wells, tank and plant rooms, fuel stores whether or not above main roof level (except for Scotland, where for rating purposes these are excluded); and open-side covered areas and enclosed car parking areas; but excludes; open balconies; open fire escapes, open covered ways or minor canopies; open vehicle parking areas, terraces, etc.; domestic outside WCs and coalhouses. In calculating GEA, party walls are measured to their centre line, while areas with a headroom of less than 1.5m are excluded and quoted separately.

Gross Internal Area (GIA) - Broadly speaking GIA is the whole enclosed area of a building within the external walls taking each floor into account and excluding the thickness of the external walls. GIA will include: Areas occupied by internal walls (whether structural or not) and partitions; service accommodation such as WCs, showers, changing rooms and the like; columns, piers, whether free standing or projecting inwards from an external wall, chimney breasts, lift wells, stairwells etc; lift rooms, plant rooms, tank rooms, fuel stores, whether or not above roof level; open-sided covered areas.

D|S|P Housing & Development Consultants Appendix IV Gross Development Value (GDV) - The amount the developer ultimately receives on completion or sale of the scheme whether through open market sales alone or a combination of those and the receipt from a Registered Provider for completed affordable housing units - before all costs are subtracted.

Homes and Communities Agency (HCA) - The Government’s Agency charged with delivering the affordable housing (investment) programme (‘AHP’) and the vehicle through which public funs in the form of Social Housing Grant (‘SHG’) are allocated, where available and where the HCA’s investment criteria are met, for affordable housing development.

Hope value - Any element of open Market Value of a property in excess of the current use value, reflecting the prospect of some more valuable future use or development. It takes account of the uncertain nature or extent of such prospects, including the time which would elapse before one could expect planning permission to be obtained or any relevant constraints overcome, so as to enable the more valuable use to be implemented.

Housing Standards Review - The technical housing standards review was launched in October 2012 following the housing and construction Red Tape Challenge, which was introduced in spring 2012. It was a fundamental review of the building regulations framework and voluntary housing standards which aimed to rationalise the large number of codes, standards, rules, regulations and guidance that add unnecessary cost and complexity to the house building process. The review was made up of 2 closely related groups who are working in parallel.

I Infrastructure - The full range of transport networks, utilities, services and facilities that are needed to create sustainable neighbourhoods and support new development. It includes physical items such as roads and social infrastructure such as schools and healthcare centres.

Intermediate Affordable Housing - See ‘Affordable Housing’

K L

Land Costs - Costs associated with securing the land and bringing it forward – activities which precede the construction phase, and, therefore, costs which are usually borne for a longer period than the construction phase (a lead in period). They include financing the land acquisition and associated costs such as land surveys,

D|S|P Housing & Development Consultants Appendix IV planning application and sometimes infrastructure costs, land acquisition expenses and stamp duty land tax.

Land Residual as a percentage (%) of GDV - The amount left for land purchase expressed as a percentage of the Gross Development Value. A common guideline used in the development industry. Readers may be familiar with the rule of thumb that upwards of approximately one third of development value is comprised of land value. In practice this has always varied, but with increasing burdens on land value from a range of planning infrastructure requirements (including affordable housing) traditional views on where land values lie are having to be revised.

Local Development Framework (LDF) - A non-statutory term used to describe a folder of documents, which includes all the local planning authority's local development documents. An LDF is comprised of:

· Development Plan Documents (which form part of the statutory development plan). · Supplementary Planning Documents.

The local development framework will also comprise: · The Statement of Community Involvement (‘SCI)’. · The Local Development Scheme (‘LDS’). · The Annual Monitoring Report (‘AMR’). · Any Local Development Orders or Simplified Planning Zones that may have been added.

Local Plan - The plan for the future development of the local area, drawn up by the local planning authority in consultation with the community. In law this is described as the development plan documents adopted under the Planning and Compulsory Purchase Act 2004. Current core strategies or other planning policies, which under the regulations would be considered to be development plan documents, form part of the Local Plan. The term includes old policies which have been saved under the 2004 Act.

Local Planning Authority - The public authority whose duty it is to carry out specific planning functions for a particular area. Local planning authorities include district councils, London borough councils, county councils, Broads Authority, National Park Authorities and the Greater London Authority.

D|S|P Housing & Development Consultants Appendix IV M Market Value (‘MV’) – is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm's- length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion.

N National Planning Policy Framework (NPPF) - The National Planning Policy Framework sets out the Government’s planning policies for England and how these are expected to be applied. It sets out the Government’s requirements for the planning system only to the extent that it is relevant, proportionate and necessary to do so. It provides a framework within which local people and their accountable councils can produce their own distinctive local and neighbourhood plans, which reflect the needs and priorities of their communities.

National Planning Practice Guidance (NPPG or PPG) - supporting document to the NPPF that refreshes and updates the raft of previous Planning Practice Guidance.

Net internal area (NIA) - The usable space within a building measured to the internal finish of structural, external or party walls, but excluding toilets, lift and plant rooms, stairs and lift wells, common entrance halls, lobbies and corridors, internal structural walls and columns and car parking areas.

Open Market Value (‘OMV’) or Market Value (‘MV’) – is the estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm's-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion. The usual measure of value in this study context. Used here to build up the development scheme’s GDV and also to distinguish between this level of value and the lower level of receipt usually associated with the affordable dwellings (see Developer Payment).

Out of centre - A location which is not in or on the edge of a centre but not necessarily outside the urban area.

D|S|P Housing & Development Consultants Appendix IV Out of town - A location out of centre that is outside the existing urban area. P

Payment in lieu - A financial payment made by a developer or landowners instead of providing the planning-led affordable housing requirement on the site of the market (private sale) housing scheme (see also “Commuted Sum/Financial Contribution”).

Payment Table - This is normally referred to where a local authority prescribes or guides as to the levels of receipt the developer will get for selling completed affordable housing units of set types and sizes to a Housing Association. In this context it normally relates to an approach which assumes nil grant and is based on what the Housing Association can afford to pay through finance raised (mortgage funded) against the rental or shared ownership income flow. See also Developer Payment. It is sometimes used in a looser context, for example in the setting out of financial contribution levels for payments in lieu of on-site affordable housing provision.

Percentage (%) Reduction in Residual Land Value (RLV) - The percentage by which the residual land value falls as a result of the impacts from the range of affordable housing policy options. This is expressed as the fall in residual land value compared to a site that previously required zero affordable housing or a site that was required to provide affordable housing previously, but at a lower percentage.

Planning obligations - A legally enforceable obligation entered into under section 106 of the Town and Country Planning Act 1990 to mitigate the impacts of a development proposal.

Planning-led Affordable Housing - Affordable housing required on new market (private sale) housing developments of certain types (which are set locally – see “Threshold” and “Proportion” below) as set out by the National Planning Policy Framework (NPPF).

Planning Policy Statement 3: Housing (‘PPS3’) – Now obsolete national statement of the Government’s planning policy on Housing – including the planning-led affordable housing we consider here.

Previously developed land - Land which is or was occupied by a permanent structure, including the curtilage of the developed land (although it should not be assumed

D|S|P Housing & Development Consultants Appendix IV that the whole of the curtilage should be developed) and any associated fixed surface infrastructure. This excludes: land that is or has been occupied by agricultural or forestry buildings; land that has been developed for minerals extraction or waste disposal by landfill purposes where provision for restoration has been made through development control procedures; land in built-up areas such as private residential gardens, parks, recreation grounds and allotments; and land that was previously- developed but where the remains of the permanent structure or fixed surface structure have blended into the landscape in the process of time.

Rateable value - The figure upon which the uniform business rate is charged.

Recycled Capital Grant (‘RCG’) - An internal fund within the accounts of a Registered Provider used to recycle SHG in accordance with Homes and Communities Agency policies and procedures.

Renewable Energy/Renewal Energy Measures - Measures which are required for developments to ensure that a proportion (often expressed as a % target) of total energy needs of the scheme are supplied through renewable sources (for example solar, wind, ground heat, biomass, etc) rather than through conventional energy supply means. Usually in the context of viability studies we are referring to small scale on-site measures or equipment that will supply a proportion of the development’s needs. Increasingly, there are also moves to investigate the potential for larger developments or groups of developments to benefit from similar principles but through group/combined/communal schemes usually involving significant plant installations.

Rental value - The income that can be derived under a lease or tenancy for use of land or a building.

Residual Valuation - The process by which Residual Land Value (‘RLV’) is estimated. So called because it starts with the GDV at the top of the calculation and deducts all Development Costs and Developer’s Profit so as to indicate the amount left remaining (hence “residual”) for land purchase – including land value.

D|S|P Housing & Development Consultants Appendix IV Residual Land Value (RLV) - The amount left for land purchase once all development, finance, land costs and profit have been deducted from the GDV, normally expressed in monetary terms (£). This acknowledges the sum subtracted for affordable housing and other planning obligations where applicable. It is relevant to calculate land value in this way as land value is a direct result of what scheme type specifically can be created on a site, the issues that have to be dealt with to create it and costs associated with those.

Registered Provider (RP) - This legal definition has replaced the previously recognised term of Registered Social Landlord (RSL) and incorporates most Housing Associations. However the new definition explicitly allows both profit and non-profit making social housing providers to be registered (with the Tenant Services Agency).

Regional Spatial Plan (‘RSS’) - The spatial plan for a region, promoted and managed by the relevant regional assembly, and in the case of London – the Mayor’s ‘London Plan’. It comprises higher level guidance which sub-regional and local authority level planning needs to take account of as a part of delivering strategic objectives for an area. See also Development Plan.

Saved Policies - former development plan policies whose life has been extended pending the replacement plan being in place. A formal direction is required in order for policies to be saved.

Scheme Type - The scheme (development project) types modelled in the appraisals consist of either entirely flatted or housing schemes or schemes with a mix of houses and flats. They are notional, rather than actual, scheme types consistent with the strategic overview the study needs to make.

Section 106 (‘S106’) - (of the Town and Country Planning Act 1990). The legally binding planning agreement which runs with the interest in the land and requires the landowner (noting that ultimately the developer usually becomes the landowner) through covenants to agree to meet the various planning obligations once they implement the planning permission to which the S106 agreement relates. It usually sets out the principal affordable housing obligations, and is the usual tool by which planning-led affordable housing is secured by the Local Planning Authority. Section 106 of this Act refers to “agreements regulating development or use of land”. These

D|S|P Housing & Development Consultants Appendix IV agreements often cover a range of planning obligations as well as affordable housing. There is a related type of agreement borne out of the same requirements and legislation – whereby a developer unilaterally offers a similar set of obligations, often in appeal or similar set of circumstances where a quick route to confirming a commitment to a set of obligations may be needed (a Unilateral Undertaking – a term not used in this study).

Shared Ownership - Shared ownership is an intermediate form of Affordable Housing and provides a way of buying a stake in a property where the purchaser cannot afford to buy it outright. They have sole occupancy rights.

Shared ownership properties are usually offered for sale by Registered Providers. The purchaser buys a share of a property and pays rent to the RP for the remainder. The monthly outgoings will include repayments on any mortgage taken out, plus rent on the part of the property retained by the housing association. Later, as the purchaser’s financial circumstances change, they may be able to increase their share until they own the whole property (see ‘stair-casing’ below). See also Affordable Housing.

Sliding Scale - Refers in this context to a set of affordable housing policies which require a lower proportion of affordable housing on the smallest sites, increasing with site size – to provide a graduated approach.

Special Protection Areas - Areas which have been identified as being of international importance for the breeding, feeding, wintering or the migration of rare and vulnerable species of birds found within European Union countries. They are European designated sites, classified under the Birds Directive.

Social Rented Housing – see ‘Affordable Housing’

Stair-casing Receipt - Payment an RP receives when a shared ownership leaseholder (shared owner) acquires additional equity (a further share of the freehold) in a dwelling.

Supplementary Planning Document (SPD) - Provides supplementary information in respect of the policies in Development Plan Documents, and their more detailed application. These do not form part of the development plan and are not subject to independent examination.

D|S|P Housing & Development Consultants Appendix IV T

Tenure/Tenure Type – the mode of occupation of a property – normally used in the context of varying affordable housing tenure types – in essence includes buying part or whole, and renting; although there are now many tenure models and variations which also include elements of buying and renting.

Tenure Mix - The tenure types of affordable housing provided on a site – refers to the balance between, for example, affordable rented accommodation and shared ownership or other Intermediate tenure.

Threshold - Affordable housing threshold i.e. the point (development scheme and/or site size) at which the local authority determines that affordable housing provision should be sought, or in this study context the potential points at which the local authority wishes to test viability with a view to considering and selecting future policy or policy options.

Valuation Office Agency (VOA) - The Valuation Office Agency (VOA) is an executive agency of HM Revenue & Customs (HMRC). Their main functions are to compile and maintain the business rating and council tax valuation lists for England and Wales; value property in England, Wales and Scotland for the purposes of taxes administered by the HM Revenue & Customs; provide statutory and non-statutory property valuation services in England, Wales and Scotland; give policy advice to Ministers on property valuation matters. The VOA publishes twice-yearly Property Market Reports that include data on residential and commercial property, and land values.

Value Level(s) - DSP usually carry out sensitivity testing based on a range of new build property values which represent typically found prices for ordinary new developments in the area at the time of the study research.

Viability - See Development Viability.

D|S|P Housing & Development Consultants Appendix IV X

Y Yields - As applied to different commercial elements of a scheme (i.e. office, retail, etc.) and is usually calculated as a year's rental income as a percentage of the value of the property. Z

D|S|P Housing & Development Consultants Appendix IV