Tongham, Surrey

This Greenfield site for 60 units situated in the heart of Surrey was promoted by a national housebuilder under an option agreement. The option required the land to be valued once the detailed planning approval/reserved matters was obtained. Kalotec were appointed by the land owners to work alongside their appointed agent to appraise, negotiate and agree the land value with the developer. The initial appraisals provided by the developer suggested that the open market value for the land was in the region of £2.4m. Kalotec appraised the land based on a developer model and calculated a land value closer to £5m. After extensive negotiations the final land value was agreed at £4.8m.

Project details

No. units - 60Private - 39Affordable - 21GDV - £16m