Table of ContentsProperty and Planning ReportCity of Nottingham Policy MapsTenure and TenanciesPlanning Obligations under the Housing Agreements section 106Section B: 9-10 Short Hill and 54-56 High Pavement, NottinghamProperty valuationDevelopment costReferencesThe real estate sector requires objective and strategic planning of actions with regard to project viability, compliance with regulations and other necessities . 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 a visionary real estate investor, we intend to conduct a feasibility study of the target location, explore the legal requirements of the development project and analyze the financial implications of the entire project before get started on the project. We will be undertaking a project in Nottingham City, a residential project which will accommodate 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 should not be banned'?Get the original essaySection A: 9-10 Short Hill and 54-56 High Pavement, NottinghamProperty and planning reportThe proposed residential plan has been submitted for approval. The project aims to develop an existing residential housing unit to meet modern specifications and standards for affordable apartments with all social amenities. The project will develop new five-story buildings, with all swimming pools, central parking and a common entrance. The site became a residential housing unit. However, the previous planner and developer failed to meet the legal requirements for a residential housing unit and therefore requires a complete overhaul and appropriate development. The location of the site is suitable as it is served by a road network leading to major highways. To the north is the main hill and to the east of the site is Trivez Square. Site accessibility was one of the key factors that informed the decision to choose the site. The project will be built next to Short Hill, Lace Market. Other residential structures will surround it in the area, including Grade II listed buildings, 9-10 Short Hill and 54-56 High Pavement, among others. The actual location of the area is shown on the physical map below; The physical location of the site is near the Lace Market Escarpment, north of London Road, and frames a historic view of St. The proposed land will include 110 single-family housing units. The units will consist of one- and two-bedroom apartments, with each apartment having a common area facing the rear. There will be a swimming pool which serves each apartment and a common play area. Access to the residence on foot will be from the main entrance via the common play area to the entrance to the apartment. We will demolish the existing building to make way for the construction of the new structure, which will occupy a space of 1 acre by 1.5 acres. Proposed residential housing units must be approved by the City of Nottingham's planning policy, which provides a framework for the use of land, including the development of residential units. He proposed that the site to be developed would not fall within the protected area and land designated for special public use. We have submitted the project to Nottingham City Planning for approval. The demolition and development of newResidential apartments have been approved in line with the City of Nottingham Aligned Core Strategy 2014. City of Nottingham Policy Maps The site is expected to be developed for residential purposes. It will serve the population of the city, in particular those located around Sainte-Marie church. One of the neighboring residential units is shown in the following figure: The role of the City of NottinghamThe Council must approve the proposed plan to allow the owner to access the land and start a profitable business. The Nottingham City Local Plan approves and establishes the framework for making critical decisions regarding developments in the city. We have submitted the proposed development plan for approval in line with the City of Nottingham's Aligned Core Strategy 2014, which sets out the standards for the construction of new buildings in the city. After approval, the construction company will commit to completing the project within the stipulated time. Tenure and rentals The land will be owned according to an individual land tenure regime. The property will be managed by the individual who will purchase it and develop it for residential purposes. The property is registered under individual land to enable the owner to develop it in accordance with the standards regulated by law. Planning Obligations under Section 106 Agreements The housing development proposal has been submitted to Nottingham Local Authority to enable the development of the units. In accordance with the planning obligation or section 106 of the Planning and Counties Act 1990, there must be a private agreement between the local authority and the private property developer before the developer can be permitted to begin construction. We have met the requirements of the planning obligations by submitting the full building plan for approval. Similarly, private developers in the City of Nottingham are required to adhere to the updated September 2019 planning obligations policy guide, which requires states to “secure the developer”. Contributions for education. We have also submitted the proposal to the Ministry of Education for approval and further guidance. The building will aim to improve the quality of life of residents in the region. To achieve this, the construction of the apartments will include improving access roads to the residence, providing clean and quality water to residents as well as security in the area. Our team will ensure that the site is a secure area by building perimeter walls around the residential apartment. In accordance with the updated planning obligations strategic guide of September 2019, we undertake to be held to contributions as set out in the Ministry of Education directive. Note: “Securing developer contributions for education.” Achieving this will require guidelines 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, in Nottingham City, will be developed opposite ongoing residential construction on the Lace Market Escarpment, on the upper side of London Road, framing the iconic view of St. Mary's Church. The decision to resume this project on the site was taken after a feasibility study and an impact assessment were carried out. Likewise, the decision was taken after a financial review of the cost of housing in Nottingham City, which is expected to trend upwards to 2.18%, which is expected to improve in the near future. construction in progress in the neighborhood,