Key information
Request reference number: MGLA050320-4433
Date of response:
Summary of request
1. Can you provide all viability assessments and reviews – by the applicant, council, and GLA - for the latest planning application to redevelop the Grahame Park estate in Barnet?
GLA case ref: 0543h
Barnet’s Planning Committee passed this scheme last week, quoting GLA support, but planning documents on the council’s website do not include an FVA or reviews or GLA reports. Could you briefly explain why?
The applicant’s planning statement mentions that negotiations with Barnet and the GLA were ongoing. The GLA’s stage one report suggests that negotiations had not reached an agreed conclusion by 10.12.20, and that Barnet and the applicant should update their FVA. No version has been published and the case is now referred to the Mayor for final decision.
2. Low cost rent levels: the 33 secure tenants involved in this phase will be able to return to new flats on the estate. Their new rents will be at ‘target social rents’ in accordance with London-wide guidance. No planning document states what the costs are. Can you provide details of housing costs in cash per week for the following:
1 bed flats
a) Current base social rent & service charges separately (For Barnet Homes tenancy)
b) Target social formula rents for new flats & service charges separately (For NHG tenancy)
c) Actual rents if above social rent formula target (The RSH’s rent standard permits registered providers to set rents 5% above formula, subject to caps)
2 bed flats
a) Current base social rent & service charges separately (For Barnet Homes tenancy)
b) Target social formula rents for new flats & service charges separately (For NHG tenancy)
c) Actual rents if above social rent formula target (The RSH’s rent standard permits registered providers to set rents 5% above formula, subject to caps)
3 bed flats
a) Current base social rent & service charges separately (For Barnet Homes tenancy)
b) Target social formula rents for new flats & service charges separately (For NHG tenancy)
c) Actual rents if above social rent formula target (The RSH’s rent standard permits registered providers to set rents 5% above formula, subject to caps)
Presumably existing service charges will vary. A typical example for blocks would be enough to illustrate, eg, with lifts and entry phones if they are typical.
It’s positive that the GLA report asks the applicant to consider the costs of potential new service charges. These costs must form part of viability assessments after consultation with residents. If estimates and/or caps were not known before Barnet’s planning committee meeting, please state that.
Related documents
MGLA050320-4433 - EIR response
20200224 Heybourne Park FVA summary v4.0
GP Stage B Financial Viability Assessment Report_v3.0
GP Stage B Financial Viability Assessment Report_v4.0
20191125 Heybourne Park appraisal
20191125 Heybourne Park Appraisal Cashflow
GLA Grahame Park Estate FVA comments March 2020