Maintaining a balanced outlook is essential for all parties in the negotiation, especially where the CIL is concerned
By now the proposal had altered to be a mixed retail development lead by popular national brands ALDI, and The Range. But what seemed to be the end of the planning phase was soon revealed to be only the end of the beginning.
Under the community infrastructure levy, the local authority set a charge per square metre that amounted to an improbable 10% of the total development budget. From even the most optimistic outlook such a charge was certain to make the development uneconomic.
While local authorities have the power to set the charge according to government published guidelines, if it is not in balance with the proposed development, an appeal is possible. In what amounted to a test case, TPS sought advice and managed an appeal to the valuation office that successfully had the initial levy charge reduced to a far more realistic figure.
The move was pivotal in realising the development plan, and led to the final lease renegotiation, which TPS also handled on behalf of Freshwater.
Following the conclusion of the planning phase, TPS took on the project management of the development seeing it through design, procurement, demolition, remediation and eventual construction. The site was finally opened in March 2019, fully let but for one unit