Residual · Appraise

1 · Scheme & GDV

No drawings yet? Two ways to enter the scheme: put a total square footage and a blended £/ft² here, or click “Enter detailed unit mix” below to set unit types (house/flat) with their own areas and values. Change land, sales and build and the residual re-solves live.

Number of units

Total net internal area (sqft, NIA)build cost is £psf on this NIA

Blended sales value (£/sqft, NIA)

Sales agent fee (% of GDV)deducted to reach net sales

Work the £/ft² out from comparables

Address / label	Sold price £	Size (sqft)	£/ft²

Blended: — /ft²

adjust %

Enter recent nearby sales — £/ft² is price ÷ floor area. The blend is the average across your comps; use the adjustment for a new-build premium or spec/condition differences. You still set the final figure.

2 · Build cost

Benchmark the rate against your cost book and a live subbie price — not PLC/main-contractor rates.

Base build rate (£/sqft, NIA)for flats, bump the rate to cover common parts (GIA > NIA)

Build it up from a base rate + drivers (fag-packet £psf builder)

Base nett rate £psf

Unit-size adjsmall <1000:+30/+55 · large >2500:−20/−40

Storey/type adj1.5-storey:+10/+20 · flats:+20/+40

Spec adjhigh:+15/+25 · bespoke+aircon:+30/+40

Site/abnormals adjurban:+20/+40 · basement/demo:+30/+60

Location (prime London) adj

Preliminaries %included below only if you build the rate here

Built nett rate → click to use as base build rate— · use ›

Rule of thumb from your data: all-in £psf ≈ 345 − (0.034 × avg unit ft²), then add spec/abnormal/London.

3 · Other development costs

Demolition / clearance £

Externals & abnormals — basis

Externals — % of base build

Externals — exact £ (if basis = £)

S278 / highways £

Contamination £

Utilities & warranty (£/unit)

Contingency (% of construction)

Professional fees (% of construction)

CIL £VERIFY on the charging schedule — don't leave at 0 unchecked

S106 £

BNG (30yr) £

Planning / dev legals £

Sales & marketing (% of GDV)

Sales legals (£/unit)

4 · The standard — hurdle, finance & land rates

Residual default assumptions — edit to suit your deal.

Target profit % (the hurdle)

Target basis

Target timing

Senior debt — loan to GDV %

Max loan to cost %debt capped at the lower of LTGDV and this — you can't fund 100% of cost

Interest % p.a. (rolled up)

Arrangement fee % of facility

Exit fee % of facility

SDLT basisverify current rates on gov.uk

SDLT override £ (0 = use calc)

Agent's fee on land %0 if direct to vendor

Land legals %

Land legals minimum £

Debt advanced vs land at completion %

Cash / equity you'll put in £ (0 = minimum)your total equity; debt fills the rest up to the cap, so more cash = less debt & interest

Pre-build / enabling (months)

Build (months)

Sales tail after PC (months)

First sales completion — month

Avg debt drawn (% of peak) — quick estimate onlyusual range 55–65%; the cashflow computes this properly

5 · Land price to test

Land price — asking / your bid £Check the vendor's Land Registry entry price FIRST

Build your own cashflow

Enter when each package starts and finishes; its budget spreads evenly across those months. Change the granularity — keep fit-out as one line, or split it. Gives a detailed monthly cashflow, finance cost, peak equity and IRR.

Package	Cost £	Start	End

Sales — first completion (month)

Sales — months to sell out

Show the monthly cashflow

Sensitivity — residual land

The cheque to the vendor at the hurdle, as sales (across) and build (down) move. Green = at or above your land price; red = below.

Sales £/sqft →

Sensitivity — profit at your tested value

Profit on cost (post-finance) at the land price you’ve entered, as sales (across) and build (down) move. Green = at or above your 20% hurdle; red = below.

Sales £/sqft →

Visuals

The cashflow shape, where the return is most exposed, and the profit map — read at a glance.

Cashflow — your equity in, debt behind you

Your equity (amber) goes in first and peaks, then unwinds as sales land; senior debt (teal) draws behind it up to the facility, then is repaid.

Your equity out (cumulative)Debt outstanding

What moves the residual most

Change in the land you can pay if each driver moves on its own. Longest bar = biggest lever.

Profit-on-cost map

Profit on cost at your land price, as sales (across) and build (down) move. Teal clears your hurdle; red is below it.

Land offer — straight vs overage

What the vendor gets on a clean price vs an overage that shares upside above a GDV trigger.

The vendor is asking for an overage (turn on to model it)

Straight offer £

Overage base payment £

Trigger basis

Trigger — GDV above £

Trigger — £/sqft above (NIA)

Vendor share of upside %

Residual — the most you can pay

Residual land value

—

Total land cost to you at that price—

Residual per plot—

Land as % of GDV—

Facility cap binds?—

Solved on the full monthly cashflow (your stated authority). Reads a little above the Section 6 quick-solver, which is deliberately conservative.

At your land price of —

GDV—

Total development cost—

Acquisition costs—

Finance (interest + fees)—

Total cost—

Profit—

Profit on cost (post-fin)—

Can you fund it?

Equity required — all in on day one

—

How it's fundedEquity first · debt behind

Peak debt drawn (draws behind you)—

Facility cap (lower of LTGDV / LTC)—

Effective avg draw (from cashflow)—

Quick-estimate finance @ your draw %—

Equity multiple—

Return on equity—