Belfast·SPG002 Development Viability·Page 13·4.2.1
Overall viability approach
The approach to viability illustrates the importance of measuring development value as an indicator of capacity to meet planning obligations, taking account of land value, development costs, and developer return. It emphasizes the need for robust estimates of land value that account for the cost of full policy compliance.
The broad approach taken to viability, for the purposes of this SPG, is illustrated by Figure 4.1 below. It highlights the importance of the value of development as a measure of the potential for planning obligations to be met, taking account of land value, development costs and developer return. It is also useful in visually showing the need to make robust estimates on land value, for example, which take account of the cost of complying fully with policy.
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