Feasibility Studies

Do you think your site or property could be redeveloped but not sure on the best or most profitable outcome? If so, then it’s probably worth considering commissioning a Feasibility Study.
A Feasibility Study is a preliminary assessment completed during the very early stages of a project, usually where there is some uncertainty about the available options. The main goals of a Feasibility Study are to:
  • Establish whether the project is viable, primarily financially, but also to consider other restrictions.
  • Help identify feasible options / alternative uses.
  • Develop the business case and project brief.
The Feasibility Study should be presented in a clear way with an obvious conclusion that enables you to decide whether to proceed to the next stage or not. While it does cost money to prepare, in the way of professional fees, these costs are a small fraction of what could potentially be lost if the project is started without due consideration of the options and viability so is well worth it.
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Issues that may need to be considered for a Feasibility Study include [not an exhaustive list]:

  • Who owns the site? 
  • Identification of the various stakeholders and other third parties.
  • Site Analysis.
  • Location of site in relation to nearest centre of population.
  • Site access.
  • Transport links.
  • Parking facilities.
  • Location of site in relation to local authority Development Framework.
  • Healthcare facilities.
  • Retail facilities.
  • Education facilities.
  • Sport / recreational facilities.
  • Social / leisure facilities.
  • Employment.
  • Legal Rights / issues.
  • Planning Permission.
  • Licensing.
  • Drainage.
  • Utilities, statutory undertakings and other services.
  • Site Investigation / Environmental Factors.
  • Will an Environmental Impact Assessment be required?
  • Assessment of the potential to re-use existing facilities or doing nothing rather than building new facilities.
  • Considering different solutions to accessing potential sites.
  • Basic structural analysis.
  • Architectural / historical.
  • Government Policy.
  • Available Grants.
  • Design possibilities.
  • Assessing operational and maintenance issues.
  • Health and Safety Considerations.
  • Basic cost plans relative to client requirements.
  • Procurement options.
  • Programme / timescale.
  • Approvals / decisions.
  • Precedent studies.

If you want some help to assess the opportunity and realistic options for your site / property please get in touch for a chat.


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