Topic > Strategic Development and Investment Analysis for Housing in the City of Nottingham -56 High Pavement, NottinghamProperty ValuationCost DevelopmentReferencesThe real estate sector requires objective and strategic planning of actions regarding project feasibility, regulatory compliance and other needs. Often, real estate companies focus on the returns they will get from the business venture as the driving force for their involvement in the business. As visionary real estate investors, we intend to conduct a feasibility study of the target location, explore the legal requirements for the development project and analyze the financial implications of the entire project before undertaking the project. We will be undertaking a project in Nottingham City, which is a residential project which will house 110 units. The project will be a five-story building with parking and a 24-hour security and alarm system. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Section A: 9-10 Short Hill and 54-56 High Pavement, Nottingham Property and Planning Report The proposed residential plan has been submitted for approval. The project intends to develop an existing residential housing unit to meet modern specifications and standards for affordable apartments equipped with all social amenities. The project will develop new five-storey buildings, with all swimming pools, a central car park and a common entrance. The site was a residential housing unit. However, the previous designer and builder failed to meet the legal requirements for a residential dwelling unit and, therefore, requires a complete overhaul and appropriate development. The location of the site is suitable because it is served by a network of roads leading to the main highways. On the northern side is the main hill and in the eastern part of the site is Trivez Square. The accessibility of the site is one of the key factors that informed the decision to choose the site. The project will be built near Short Hill, Lace Market. Other residential structures will surround it in the area, including the Grade II listed buildings, 9-10 Short Hill and 54-56 High Pavement, among others. The actual location of the area is shown in the physical map below; The physical location of the site is close to Lace Market Escarpment, north of London Road, and frames views of St. The proposed land will consist of 110 residential units that can accommodate a family. The units will consist of one- and two-bedroom apartments, each apartment with a rear-facing common space. A swimming pool will be built to serve each apartment and a common playground. Access to the residence on foot will be from the main entrance through the common playground to the entrance of the apartment. We will demolish the existing building to make way for the construction of the new facility, which will occupy 1 by 1.5 acres of space. Proposed residential housing units must be approved by the Nottingham City Planning Policy, which provides a framework for physical land use conditions, including the development of residential units. He proposed that the building site should not fall within the protected area and land designated for a particular public use. We have submitted approval to Nottingham City Planning. The demolition and development of the new residential apartments has been approved under Nottingham City's Central Aligned Strategyof 2014. Nottingham City Political Maps The site is intended to be developed for residential purposes. It will serve the population around the city, especially the people around the church of Santa Maria. One of the nearby residential units is shown in the following figure; Nottingham City's role Council will need to approve the proposed plan to allow the property owner to access the land and start a profitable business. The City of Nottingham Local Plan approves and creates the framework for making crucial decisions about developments in the city. We have submitted the proposed development plan for approval under the Nottingham City Aligned Core Strategy 2014, which sets the standards for the construction of new buildings within the city. Once approved, the construction company will commit to completing the project within the allotted time. Tenure and Tenancies The land will be owned under the individual land tenure system. The property will be managed by the natural person who purchases it and develops it for residential use. The property is registered as individual land to enable the owner to develop it according to standards regulated by law. Planning obligations under section 106 agreements. The proposal for the development of the housing units has been submitted to Nottingham Local Authorities to enable the development of the units. According to the planning obligation or section 106 of the City and County Planning Act 1990, there must be a private agreement between the local authorities and the private real estate developer before the developer can be allowed to begin construction. We have met the requirements of the planning obligations by submitting the full building plan for approval. Similarly, private developers in Nottingham City are obliged to adhere to the September 2019 updated strategic guidance on planning obligations, which requires States to 'protect developer 'Education Contributions.' We have also submitted the proposal to the Department of Education for approval and further guidance on the matter. The building will aim to improve the quality of life of people within the area. To achieve this goal, the construction of the apartments will include the improvement of access roads to the residence, the provision of clean and quality water to residents, as well as security in the area. Our team will ensure that the construction site is a safe area by building perimeter walls around the residential apartment. In line with the updated strategic guidance on planning obligations in September 2019, we are committed to being obliged to the contributions set out in the Department for Education guidance Note: 'Securing developer contributions to education'. Achieving this will require guidance from local authorities and mechanisms to contribute to the education sector in areas affected by the construction of residential apartments. Section B: 9-10 Short Hill and 54-56 High Pavement, Nottingham9-10 Short Hill and 54-56 High Pavement, Nottingham City, will be developed opposite ongoing residential development on the Lace Market Escarpment, on the upper side of London Road, framing the historic view of St. Mary's Church. The decision to undertake this project on the site was made after a feasibility study and impact assessment. Likewise, the decision was made after a financial overview of the cost of housing in Nottingham City, which is forecast to be rising at 2.18%, which is likely to improve in the near future. Additionally, there are almost similar residential home constructions underway in the neighborhood, which will likely attract more people
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