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Property Development


Property Development Industry

Volterra’s property team has unrivalled knowledge of the dynamics of local property markets and their economics. As well as using statistical analysis, our techniques allow for input from market experts working on the ground to present a combined qualitative and quantitative approach to property economics. We work for both private and public sector clients in understanding the potential effects of proposed developments on the local, regional and national economy. We regularly work for developers in producing the socio-economic chapter of Environmental Statements, Regeneration Statements and Economic Development Strategies, supporting them at Public Inquiry where needed. Bridget Rosewell, senior advisor at Volterra, and Partner Ellie Evans  have both appeared as an expert witness at several planning inquiries.

Capabilities Employed:

Development and Planning
City Economics
Socio-Economic  Assessment

Land Securities

 

Nova, Victoria

We worked for Land Securities to look at the economic impacts of the development proposal for their ‘Nova’ development. Coming in the wake of Land Securities’ successful and delivered Victoria scheme, Cardinal Place, the proposed development continues the renewal of the Victoria area.

The scheme involves a complete refresh of the business and public environment in the area immediately in front of Victoria Station, with the current bus station making way for a new and vibrant public space, relieving the significant pedestrian congestion that currently takes place in the area.

Our work focused on the public benefits of the development, focusing on the productivity, renewal and public space benefits of the mixed use scheme. Following several studies for the client, Volterra were engaged to produce the socio-economic chapter of the Environmental Statement for the scheme.

Portland House

Volterra produced the Socio-Economics chapter for the Environmental Statement for the Portland House development in Victoria, City of Westminster (completed January 2013).  The proposed development is a residential-led mixed use scheme comprising approximately 205 residential units converted from predominantly office use.

Pinewood Studios

Project Pinewood planned to extend the well known film studios into an innovative set of streetscapes for location filming which would be backed by residential buildings.  Since the proposed site is in the Green Belt, we prepared evidence on the national importance and significance of the film industry and why this innovative proposal would make a contribution to economic growth.  We described the role of innovation in the economy as well as the direct job creation and gave evidence at the Planning Inquiry.

While our case for the significance of the industry was accepted, the Secretary of State did not view the job creation as sufficiently large to outweigh the landscape damage associated with the development.

British Council for Offices

For the BCO we undertook a study that considered what the future holds for offices, across the country but particularly in London. The study involved primary research, literature review, quantification, scenario analysis and workshop facilitation. The study considered what offices of the future might look like (given environmental regulations, etc.), how they will be used (given technological change, etc.) and what factors will impact upon demand for and provision of offices (given financial constraints on developers, regulation on property investment, etc.).

Francis Crick Institute

Volterra evaluated the economic impact of an innovative new biomedical research facility (now known as the Francis Crick Institute, previously the UK Centre for Medical Research).  This study involved literature review of previous studies considering how to quantify the impact of investment in health facilities, along with primary data collection and quantification of the scale of the impact. 

Planning Applications

Volterra carry out numerous Socio-Economic Impact Assessments for planning applications. Recent examples include Portland House (Victoria, City of Westminster, London), Angel House (Limehouse, Tower Hamlets, London) and Dorset Green masterplan (Winfrith Technology Centre in Purbeck, Dorset). Recent clients for this work include Land Securities, Waterman EED and Goodman International Ltd.

Infrastructure Developments

Volterra also has significant experience in development and planning of transport infrastructure and how this impacts economic growth. We have recently been engaged on the Northern Line Tube Extension with Transport for London (TfL), and have previously worked on Crossrail 1 and 2 for TfL, High Speed One with London and Continental Railways and South Yorkshire PTE with Arup. To read about these case studies in more detail please visit our Rail industry page.

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