Tustin Estate Options Appraisal
Altair delivers successful options appraisal for Southwark Council’s Tustin Estate redevelopment, working with local residents and businesses.
Altair worked with residents, local businesses, Southwark Council and the appointed multi-disciplinary design team to carry out an options appraisal for a range of future scenarios. From a ‘do nothing’ and maintain existing homes scenario, through to full redevelopment of the estate.
Altair carried out financial viability and economic cost benefit analysis of the five options shortlisted by residents and the Council. Work included attending resident consultation events and presenting at public meetings before producing final reports, comparing each option’s performance both financially as well as through a qualitative assessment of the benefits and disbenefits of each.
Following conclusion of the Altair reports, residents voted on the final option. The preferred option was to fully redevelop the estate to deliver up to 700 new homes. This option would create new jobs, commercial space, accessible and secure green spaces for the community, as well as the potential for a new school at the centre of the estate.
Altair’s work alongside the wider project team and residents meant Southwark obtained and shared sound viability and cost benefit analysis advice before holding a resident’s ballot to determine a preferred option. These tools provided the council and residents with information about the funding requirements of each option, with wider social and economic benefits of each, including the net present social value. This collaborative approach with the project team, the Council, residents, and local stakeholders resulted in high satisfaction feedback from residents.
Altair delivered a variety of successful outcomes for the Council:
“The team at Altair were excellent at collaborating with the project team at Southwark, local residents, and businesses for Tustin Estate, which meant everyone was able to feel informed and engaged in the decision. Their expertise in viability appraisals and economic cost benefit analysis meant the project was completed to an exceptional standard and it was a pleasure to work with them”Neil Kirby, Head of Regeneration South
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