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Tier 1 evidence still needed — planning position, utility searches, and unit count must be on file before the pack is complete for lenders.

Kingsfield Place

Land off Ock Street, Abingdon · OX14 1AA · Vale of White Horse District Council

Credit pack Financial analysis

At a glance

GDV

£3,200,000

Profit on cost

43.4%

LTV stress (primary)

60% — PASS

Sponsor

—

Deal summary · Auto-generated from verified inputs

1 · What is the site?

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SiteKingsfield Place

AddressLand off Ock Street, Abingdon

PostcodeOX14 1AA

LPAVale of White Horse District Council

Proposed units10 residential

Source: Site record · As of: 02 May 2026 · Confidence: Confirmed

2 · Is planning real?

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DecisionFull planning permission — granted

ReferencePA/2024/01847

Pre-commencement conditions3

Erection of 10 dwellings with associated access, parking and landscaping. Fictional demo reference only.

Commencement risk3 pre-commencement condition(s) must be discharged before development can lawfully commence; confirm evidence requirements and timing with the LPA.

Source: Planning annex (LPA / planning.data.gov.uk) · As of: 02 May 2026 · Confidence: Confirmed

3 · What are the obligations?

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SummaryS106 and constraints captured on baseline snapshot.

S106 / CILSection 106 / CIL exposure (demo): £118,000 (affordable housing, education, highways).

S106 breakdown (financial)

Head	£
Affordable housing	£52,000
Education	£33,000
Highways / transport	£33,000

Trigger points (sample)

Affordable housing: On commencement of development / prior to first occupation (demo wording).
Education: Prior to occupation of dwelling 5 or payment in lieu (demo).

Constraints (demo): within established residential edge — verify flood and heritage on live instructions. Utility provider not identified for this postcode area. Contact your local DNO, water company and gas transporter directly.

Source: Site snapshot (S106 & constraints) · As of: 02 May 2026 · Confidence: Confirmed

4 · Does the money work?

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GDV from NIA × benchmark £/sqm; costs from viability snapshot; developer margin consistent with lender stress tests.

GDV£3,200,000

Total development costs£2,176,000

RLV (residual)£592,000

Profit on cost43.4%

Gross development margin (GDV − dev costs) / GDV32.0%

Target developer margin on GDV (viability inputs)20.0%

Land cost— (not in viability inputs)

Total project cost (incl. land)— (add land cost to model)

Cost breakdown · 10 units · 800 sqm · £4,000/sqm

Build cost£1,500,000

Planning & professional£45,000

S106 / CIL£120,000

Finance£220,000

Contingency£85,000

Other£206,000

Source: Viability inputs & snapshot · As of: 02 May 2026 · Confidence: Confirmed

6 · Exit strategy

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Recommended routeSalepasssalepassrefinance

Sale — LTV stress

Net proceeds£3,120,000

60%£1,872,000pass

65%£2,028,000pass

70%£2,184,000pass

Refinance — LTV stress

Max proceeds @ 75% LTV£2,400,000

60%£1,872,000pass

65%£2,028,000pass

70%£2,184,000pass

Exit strategy analysis

Exit A — Sell selected on indicative rules. Open market sale shows 43.4% profit on cost (after 2.5% sales costs). All three exits are illustrative against total project cost £2,176,000.

Exit A — SellRecommended

strongIRR: highest

Individual unit sales on open market

Net proceeds£3,120,000

Key points

· GDV £3,200,000 less 2.5% sales costs

· Net proceeds £3,120,000

· Profit on cost 43.4%

· Highest IRR — fastest capital return

· Individual sales often appropriate at this scale

Risks

· Sales velocity risk on larger schemes

· Market timing — price sensitivity to interest rates

· Void holding cost if sales slow

Standard exit for UK SME developers. Lenders stress-test at 60/65/70% LTV against completed GDV.

Timeline: 6–12 months post-PC

Exit B — Affordable / S106

viableIRR: medium

Section 106 nomination or Registered Provider partnership

Net proceeds£3,120,000

Key points

· 0 affordable units at 70% market value

· 10 open market units at full GDV (after sales costs)

· Blended proceeds £3,120,000

· Registered Provider can take affordable block — reduced sales risk on that element

· Government grant funding may be available via Homes England where eligibility applies

Risks

· RP negotiation can be slow — allow 3–6 months

· Grant dependency if scheme viability marginal

· Management overhead if retaining affordable units long term

S106 affordable housing obligation often scales with unit count and LPA policy. At 0% affordable provision in this model, RP partnership can reduce open-market sales risk on the affordable element.

Timeline: Negotiated pre-commencement — long-term hold option

Exit C — Build to Rent

marginalIRR: lowest

Stabilise at market rent and sell to BTR investor

Net proceeds£1,846,875

Key points

· Gross rent £120,000/year (10 units × £1,000/month indicative)

· Net operating income £90,000/year (indicative, after opex)

· Asset value at 4.8% cap rate: £1,875,000

· Sale proceeds to institutional BTR buyer (indicative): £1,846,875

· Typical institutional buyers include L&G, Grainger, M&G Real Estate

· Passive House / EPC A schemes can attract premium BTR demand

Risks

· Lowest IRR — capital tied up during lease-up

· Requires professional property management

· Cap rates move — exit value uncertain

· Lender consent required to hold rather than sell

UK BTR market is active in urban centres; regional/coastal liquidity varies — test local rental depth before relying on this exit.

Timeline: 18–36 months post-PC (lease-up + stabilisation)

Base case appraisal

GDV

£3,200,000

Total costs

£2,176,000

Net profit

£944,000

Profit on cost

43.4%

Sensitivity analysis — what if?

Scenario	Adj. GDV	Net profit	POC	Status
A — Price drop GDV −10%	£2,880,000	£632,000	29.0%	SAFE
B — Cost overrun Costs +15%	£3,200,000	£617,600	24.7%	SAFE
C — Price drop + cost overrun GDV −10%, Costs +15%	£2,880,000	£305,600	12.2%	WATCH

Lender minimum: 20% profit on cost. Sales costs assumed at 2.5% of GDV.

Completed value (GDV): £3,200,000

Source: Exit model (benchmark comparables) · As of: 02 May 2026 · Confidence: Indicative

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