Download - Growing Development Value
growing development value
communityfinancialenvironmentalcultural
To be considered successful, projects
changing the built and the natural environment
need to create value whether promoted by
private or public sector.
Value means different things from different
perspectives;
• For the environment, controlling pollution,
reducing greenhouse gas emissions,
enhancing bio-diversity and habitat creation
• For the community, enhancing the Public
Realm, recognising the needs of all sectors
of society, fostering a strong community life,
meeting housing and other needs.
• For the richness of cultural life, creating
places of beauty that mature well over time
and foster a meaningful community life.
• For the developers and investors, public
or private, creating value for money and
progressive value enhancement.
introduction
how its doneWhichever perspective is applied, value can only be achieved where each of the
following is addressed;
• Spotting opportunity
• Assessing and managing risk
• Applying value growth strategy
• Following through to delivery
Nash have over 20 years of experience in applying these principles to significant
opportunities we have identified or challenges we have been asked to take on.
The following pages demonstrate this...
growing development value:
We worked from 2003 to help bring
one of Birmingham’s most skilled
longstanding businesses back into the
city’s historic gun quarter. Westley
Richards, (whose name lies behind
many of the early patents for small
arms), have made exquisite sporting
pieces for the last 110 years from well
lit historic workshops. But compulsory
purchase under a road construction
programme forced them to be
re-housed. Maintaining a strong sense
of historical authenticity for their new
workshops, showroom and firing range
have been crucial for a business whose
worldwide customers come for fittings
and advice when they purchase guns
costing in the region of £100,000 a
piece.
We have steered the project through
many re-location hurdles to a successful
and much praised conclusion.
westleyrichards
On one of the major
thoroughfares in the World
Heritage City of Bath we showed
how an unattractive petrol filling
station could be replaced by
a development of apartments
that would complete one of
the many terraces half finished
amongst the banking crisis
of the 1790’s. This scheme,
recognised by a number of
awards, has enhanced the
setting of the existing listed
terrace, enriched the character
of the Conservation Area,
provided attractive new homes in
the heart of the City and value in
perpetuating Bath’s stone mines
and craftsmanship skills.
herschelplace
On a 19-acre industrial Conservation Area in
the Cotswolds, we showed how over three
dozen listed buildings could be put to new long
term use as dwellings and workspace. At the
time the scheme had many critics, adamant
that no one would want to live in a site long
overgrown and associated with manufacturing
industry.
Upon completion we found the scheme was
so attractive, sales values greatly exceeded
expectations and all the historic building repair,
conversion, infrastructure costs and profit
expectations could be met well before all the
bespoke new housing had been built. As well
as ensuring the survival of several centuries
of woollen industry history, the scheme has
removed considerable blight and pollution
and ensured the continuing management of
an extensive area of wetland, with waterfalls,
sluices and a hydro powered turbine.
longfordsmill
In a secluded walled garden beside the Kennet and Avon canal in the
World Heritage City of Bath, and within level walking distance of the city’s
centre, we have completed this large villa in the Italianate style offering
eight families an immensely attractive and convenient place to live. The
scheme has enhanced the canal, the security of those using its tow path
and added something beautiful to the rich skyline of this part of the city,
forming the backdrop to the Holborne Museum and Sydney Gardens 18th
century Pleasure Park.bath
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kpl
ace
In two well known North Devon
coastal holiday centres we are
invigorating the rural economy by
re-presenting the rich offering of the
Devon countryside and beaches
around new bespoke hotels.
The projects create value by bringing
new economic activity and jobs to
areas undervalued as a result of
cheap foreign travel. This stimulates
new enterprise amongst their
communities, and brings pleasure to
those who use them.
northdevon hotels
In the West Country, we took a challenging listed Malthouse with low ceilings and
showed how it could be adapted to become the headquarters of the managers
of this city’s Public Housing stock. We demonstrated how a riverside location
could be put to good use using a river water heat pump alongside many other
sustainability achievements to give the building an excellent BREEAM rating.
somerhousing
Once described as the factory to the world, England’s West Midlands region has seen a
loss of pride and identity as manufacturing has moved to new centres overseas.
When asked to advise on a modest expansion of one of the Ironbridge Gorge’s Industrial
Museums, we showed our clients how a far more effective celebration of the region’s
industrial heritage and inventive character could be achieved via a new World Heritage
Site Orientation Centre. Located where it could contribute substantially to critical mass in
the manner of the 19th century ironworks, the project was felt to add sufficient value to
secure £12m of grant aid from the European Regional Development Fund and the region’s
Development Agency. It has made a huge difference to the Museum’s Visitor numbers and
has been one of seven different projects to bring to completion over a five year period.
blistshill
Our clients ran a third generation family furnishings business
amongst the remains of Bath’s earliest 18th century workhouse,
so radically changed that its original function was no longer
apparent. We showed how value could be created and extracted
to put the buildings to new uses as flats around three attractive
urban courtyards. Two were created by reconstructing elements
of the complex demolished in the late 20th century for road
widening and car parking. The scheme has allowed the business
to fund more suitable modern premises elsewhere.
During this scheme, many attractive, quiet and convenient new
homes have been created, the original setting of the historic
buildings has been enhanced and renewed and the character of
the Conservation Area enriched by new frontages in Bath stone,
new views and a restored historic urban grain. sutc
liffe
hous
e
In the Cotswold market town of Wotton Under Edge, we showed how a polluting
factory building, completely surrounded by housing, could become a new Retirement
Village opening up a large previously closed site to offer new pedestrian networks.
We showed how the needs of the community for elderly care of a different kind could
be provided and justified in the heart of an established settlement, maintaining and
growing social contact whilst creating new employment.
potterspond
The Council of Cheltenham College, a leading Public School, appointed us to
create a long term Development Plan to guide the investment programme of their
facilities over two decades. Operating from a campus in the heart of Cheltenham’s
Conservation Area and a host of high status listed buildings, they faced a complex
task of facilities management analysis which we led them through over a period of
many months.
We created value by showing how their buildings of greatest cultural and historic
value could be fully utilised through conversion and funding improvements in
disability access and maintenance. We showed how more peripheral buildings
could have patterns of use able to generate external income and how essential
car access, car parking and pupil security could all be addressed. We then
added value in obtaining endorsement from planners and English Heritage to the
programme well ahead of the College needing to secure the separate planning and
Listed Building consents for individual projects.
cheltenhamcollege
In 2003 we were selected to solve the problem of regenerating Bradford on Avon’s
historic town centre since the closure of the town’s major industrial employer 12
years previously. It was clear a host of technical difficulties and risks had coloured
developer’s views on what could be done on the site and investment confidence
was at rock bottom. The local community had many views, expressed through a
surprising number of special action groups promoting and protesting different ideas.
We set out comprehensively to understand the site’s technical and value challenges
whilst exploring how values could be grown through a complex pattern of mixed use,
redevelopment, conversion and Public Realm enhancement. As we understood
what could be achieved, we presented a vision to the community and the site’s many
stakeholders on how high density reuse could be delivered and would blend well
with the historic town’s character. Despite its challenges the scheme will deliver
30% affordable housing, a wide range of non-residential uses and Public Realm
improvements, as well as new movement networks alongside the 175 new dwellings.
kingstonmills
New businesses face many financial
challenges as they are trying to get off
the ground. They need premises without
these commitments being too onerous,
they need money for working capital but
may be funding a large mortgage at a
time when income is constrained by the
responsibilities of a young family. They
also benefit greatly from working amidst
a network, sharing ideas, problems, skills
and a readymade customer base. Social
entrepreneurs, Verve responded to these
needs with dramatic success at Bristol’s
Paintworks scheme where 70 creative
businesses, from one-man-bands to firms
of 50 staff ,now occupy 130,000 sq. ft. of
creative and hub workspace alongside
social and community activities. Rental
values on the site have grown by several
factors over the project’s life.
Nash were engaged in 2008 to design
and project manage the all new build next
phase, applying these principles to 380,000
sq. ft of new floor space designed to be
built incrementally (as all good towns were)
over 10 to 15 years; taking the benefits of
living and working in a well located, well
linked creative environment to a much
wider audience.
paintworksphase III
In Wiltshire the extensive grounds
and arboretum of a Georgian country
house, demolished in the 1950’s, lay
redundant when its owners closed a
longstanding visitor attraction. For
a speculating developer we showed
how its fine trees and water features
could be preserved and managed as
the grounds of two magnificent new
country houses.
Although without any support in
planning policy we showed the local
planning authority how much could
be achieved by the comprehensive
landscape management such
development would bring. In doing
so we created value for its developer,
a pension for its former owners, we
have retained its trees as a significant
feature of the local landscape and a
wealth of new and enhanced wetland,
arboricultural and grassland habitats.
rodemanor
When the World Heritage City of Bath expanded dramatically in the 18th century on
the back of royal patronage of its hot water mineral springs, it would not have done
so without the entrepreneurship of Ralph Allen who first began stone extraction on a
large scale. 250 years later his underground stone mines beneath the hilltop village of
Combe Down have been the subject of a £155m stabilisation programme funded by
the Homes and Communities Agency (formerly English Partnerships).
Nash were selected to design a Visitor Interpretation Facility and Community Centre
to make the areas heritage part of the social and cultural identity of the village and its
residents. Located on a prominent road junction, its community value will be tangible
and will act as the gateway into the mines which remain beneath the heart of a village
now no longer at risk.
ralphallenyard
rodemanor
Nash Partnership23a Sydney Buildings |Bath | BA2 6BZ
www.nashpartnership.com | [email protected] | (01225) 442424