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Development Appraisal and Feasibility Study A builder's number before you buy: what your site can carry and be worth, by the team that builds it.

Our track record

100% of projects ahead of
programme and budget

Our Development Director's record

  • 4,000+homes delivered by our Development Director
  • 10,000+homes through planning, Development Director's record
  • £225M+of land acquired, Development Director's record
  • 0hidden contingency in any option we appraise

An appraisal priced by the people who would build it

Most development appraisals rest on a rate per square metre and a hope. Ours are produced by a construction company. Each design option becomes a cost plan, trade by trade, from the team that would pour the concrete.

So the feasibility study you take to a lender or a vendor holds at tender. Start with a free site appraisal: a director reads the planning history and tells you whether the site deserves a study.

Victorian red brick facade with tall arched white windows, conversion candidate

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Everything a site appraisal needs, in one study

Hand placing a red pin on a printed city street map to mark a site

Planning and policy check

Local plan, designations, Article 4, the street's precedents and the planning history, read before a pencil moves.

Hand with pen sketching on a large printed floor plan in daylight

Design options, drawn

Convert as is, add a storey, go down, go up: each option to plan, section and schedule, tested against space standards.

Hands using a calculator at a desk beside a keyboard (cost-planning feel)

Costed by our build team

Every option a unit-by-unit cost plan, structure and services included, from the people who would carry it out.

Finished loft apartment kitchen with island, concrete walls, timber cladding and steel staircase

GDV and residual land value

Sales and rental evidence for the finished units, then the arithmetic back to what the land is worth today.

Corinthian columns and pediment of a Grade II listed stone portico on Regent Street, London

Planning money and risks

Affordable housing, CIL, vacancy credit and change-of-use evidence quantified per option, with an owner against each risk.

Row of bright yellow hard hats lined up on a site work surface

Programme and lender pack

Pre-construction and build dated, then options, cost plans, appraisal and risk register bound for your lender's surveyor.

How it works

How a site appraisal becomes a study

01

Free site appraisal

Send the address. A director reads the policy, the history and the street, then says in writing whether a study is worth it.

02

Brief and site visit

We walk the site, measure what matters, agree the options to test and fix the fee before any drawing starts.

03

Options drawn and priced

Our design team draws each option; our construction team prices it, trade by trade, at worst case.

04

Appraisal and risks

GDV from local evidence, residual land value, planning obligations per option, risks with an owner, programme.

05

Decide with the numbers

Buy, walk away, sell, partner or go to planning, with a study your lender and your planner can use.

The free Craftex checklist for development feasibility, shown as a black hardback book

The Craftex Development Feasibility Checklist

The checks we run before a client buys: title and planning, GDV and residual logic, the costs that move, the statutory clock, and a scorecard for go or no-go.

Our promises

Six promises, written into your contract

  1. Priced by the team that would build it

    No rate per square metre: each option is a cost plan, quantity by rate, every trade.

    Allitsen Road, four options priced this way by our own construction team.

  2. Worst case first, nothing hidden

    Cost plans carry forward inflation and the worst-case basis, so no contingency hides behind them.

    Allitsen Road, every plan issued at worst case.

  3. We will argue against our bigger scheme

    If the smaller option earns almost as much for less risk, we recommend it.

    Allitsen Road, the six-unit option reached 97% of the seven-unit value with no excavation.

  4. Planning money modelled before submission

    Affordable housing, CIL and vacancy credit quantified per option while the scheme can still change.

    Allitsen Road, a seven-figure exposure sized before pre-application.

  5. A dated programme with the study

    Pre-construction, standard and accelerated build sequences issued with the numbers.

    Allitsen Road, 74 weeks standard, around 14 months with one integrated team.

  6. Fundable, insured, accountable

    One pack for the lender's surveyor and one director answerable for it.

    Public and employers' liability at £10M each, ISO 9001, 14001 and 45001, CHAS accredited.

Sample feasibility study quotation from another firm, five scope lines, with a green sticky note inviting you to send yours

Already have a quote? Send it to us. We'll beat it.

Already hold an appraisal, an architect's options or a vendor's figures? Upload them. A director re-prices the scheme with our build team and replies within two working days.

Compare your quotes

Where development appraisals tend to go wrong, and what we do instead

AreaThe usual riskWith Craftex
ResponsibilityAn architect draws, a surveyor prices, a planner advises, and nobody signs the whole answer.One director signs the study, and the same company stands behind the build figure inside it.
The final billA rate per square metre at feasibility, then a tender that lands far higher after you own the site.Trade-by-trade cost plans from our construction team, so the figure in the study is the figure we would build to.
The dateA report that arrives after the auction, the option deadline or the vendor's patience.Scope and delivery date fixed at the brief, with the free appraisal giving a first view within days.
The buildingAn interim let or a strip-out that quietly destroys a vacancy credit or a lawful-use argument.A standing instruction on day one: nothing happens to the building until the planning strategy is fixed.
ComplianceSprinkler and higher-risk thresholds, space standards and conditions found during technical design.Heights, unit sizes and fire thresholds tested in the options: on Allitsen Road the floors sit 200 mm below the sprinkler line.
The reportA short PDF of assumptions that a lender's surveyor sends back.Options, cost plans, appraisal, risk register and programme in one pack, ready for the monitoring surveyor.

Three levels of appraisal, 2026

Start free. Pay only for the study your decision needs, at a fixed fee agreed before we draw. Ex VAT, 27 October 2026.

LevelWhat you receiveBest for
Free site appraisalA director's written view: planning context, precedents nearby, what the site could carry, go or no-goBefore an offer, an auction or a conversation with a partner
Feasibility studyDesign options to plan, section and schedule; a unit-by-unit cost plan per option; GDV and residual land value; planning risks; programmeBefore exchange, a planning submission or a land deal
Full development appraisal with lender packThe study plus cashflow, sensitivity on sales and build rates, finance assumptions and the pack a lender's surveyor expectsFunding, a joint venture or a board decision

Fees are fixed per site and agreed in writing before work starts. We never charge a percentage of land value or GDV.

Our team

  • in

Development appraisal and feasibility study, your questions

What is a development appraisal?

A financial test of a scheme: the finished value, less everything it takes to deliver it, leaving the profit and the land value. It is run before a purchase, a planning submission or a loan. Ours differs in one respect: the build figure is a cost plan from our own construction team, not a published rate.

How is residual land value calculated?

Take GDV, deduct build costs, professional fees, planning obligations, finance and the developer's profit, and the remainder is what the land is worth today. The figure moves sharply with the scheme, so six flats and four houses return different answers for one plot. The line-by-line arithmetic is in our guide to GDV, costs and residual land value, worked through on a real site.

How much does a feasibility study cost?

The site appraisal is free. The feasibility study and the full appraisal with lender pack are fixed fees per site, agreed in writing at the brief. The fee follows the number of options and the site, never a share of land value or GDV.

Do I need planning permission before an appraisal?

No. The appraisal is most useful before planning, because it tells you which scheme to apply for and what the consent is worth. With consent already granted, we price the approved scheme and check whether it leaves value on the table. For the price and risk of each route, read buying land with or without planning permission.

Can I build flats on my land?

Often, and the answer sits in three places: policy for your address, physical constraints such as access and daylight, and whether the numbers work. A vacant pub, club or office in London frequently carries more homes than its current use suggests. Start with our article on what can I build on my land in London, then send us the address.

What is GDV in property development?

Gross development value is what the completed scheme would sell for, or its rental income capitalised, before any cost is deducted. We anchor it to recent local sales and lettings for the unit type proposed, not to asking prices. Everything else in the appraisal is measured against it, so an inflated GDV ruins the whole study.

What does the free site appraisal include?

A director's written view: planning policy and designations, the planning history, what the street has been granted, and what the site could carry. It ends with a go or no-go recommendation on commissioning a study. It takes days, not weeks, and there is no charge and no obligation.

How long does a development appraisal take?

Allow about four weeks for a full feasibility study with several options, cost plans, appraisal and programme. A single-option appraisal is quicker. An auction or option deadline is stated at the brief and we work to it. The free site appraisal comes back within a few working days.

What is a planning viability assessment, and is it the same thing?

No. A viability assessment is submitted to the council to argue what level of affordable housing or contributions a scheme can bear, on policy-led assumptions. Our study is for you: it tests whether to buy, what to build and what to pay. If a viability case is later needed, the same cost plans support it.

What sites do you appraise, and where?

Vacant and under-used buildings, plots and yards in London and the South East, for schemes between £3M and £150M gross development value. Many clients come to us before an auction or exchange. If you have already bought, we start with our due diligence checklist for buying land, then price the worst case first.

What our clients say

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  • Hired Craftex for our conversion project. We had to convert a 600m2 office into 8 apartments. Guys did an excellent job in terms of program efficiency and quality of the finishes which gave us a big upside to exit the project 2 months faster than other competitors’ timelines.

    Misha Levit

  • Great experience from start to finish. Communication was clear, the workmanship was excellent, and the whole project was managed professionally.

    Rhea Langford

  • I’d like to thank the team at Сraftex for the work they did on our office.
    It was really important for us to get the work done quickly, but without compromising on quality, as we regularly have clients and guests visiting and needed to move into the new office within a month.
    We spent around two weeks discussing and agreeing all the details before the work started. What I really appreciated was that everything we agreed beforehand was actually followed through during the job. The work was also completed on time.
    Thanks to the whole Сraftex team for a great job. I’d definitely use them again if we need any work done in the future.

    IURII PYLYPETS

  • We recently worked with Craftex and honestly couldn’t be happier with the results. From start to finish, the team was professional, reliable, and highly skilled. The quality of workmanship exceeded our expectations, and everything was completed on time and to a very high standard.
    Communication throughout the project was excellent, and they always went above and beyond to make sure we were satisfied. It’s rare to find a construction company that combines professionalism, attention to detail, and great customer service so well.
    Without a doubt, Craftex is one of the best construction companies we have ever worked with. Highly recommended to anyone looking for quality and trustworthy builders.

    Adam Miah

  • Craftex has completed a range of both small and large-scale projects on our commercial property with exceptional precision and quality. Dmitriy consistently delivers courteous, prompt service and has shown great flexibility in accommodating last-minute changes to plans and timelines. I highly recommend Craftex for their professionalism and outstanding workmanship.

    Pascal Hunt

  • Great company to work with as always. Super flexible at dealing with evolving requirements and fast deployment and execution.

    Akshay Khanna

  • Hired Craftex to do the full design and fit out of my gym in Chelsea. Super efficient and fast team. They gave the best price and a proper fast track program. We managed to open in less than 6 weeks with no headaches or surprises during construction. Quality was great, we had zero snags on completion. I’ve worked with a few companies before but these guys really impressed me from project management to how they treat the client. Top GGs.

    Александр Хоменко

  • I worked perfectly with Sviat and Joe, with their architect they came up with a very smart design for our office to fit more desks and optimise the space to its maximum capacity. They also did excellent value engineering on the MEP design proposed by others, allowing us to save around £50K. The quality and speed were outstanding we finished two weeks ahead of schedule. Highly recommend these guys.

    John Smith

  • Happy with the end result. Tight timeline but they pulled it off. The team worked late shifts and even weekends to help us open the doors on schedule. Site was always left tidy at the end of the day and no surprise charges either. Good communication throughout. Would definitely use Craftex again.

    Pawel Kamionka

  • Highly recommended!
    Craftex are the kind of fit-out contractors in London you can truly trust. From the very first meeting, they understood our vision and gave practical ideas to make the most of our space. They turned our old storage area into a clean, efficient, and well-organized warehouse. The team was professional, easy to work with, and clearly took pride in their work.

    Monika Kamionka

  • We brought in Craftex to refurb our London office and honestly, they made the whole thing way easier than we expected. They listened, suggested ideas we wouldn’t have thought of, and explained everything clearly. Not the cheapest quote we got, but the end result shows why, the place looks modern, clean, and our team actually enjoys being here now. Communication was spot-on too. No chasing and confusion, deadlines were hit. If you want people who genuinely care and don’t treat your project like “another job,” I’d recommend them.

    A Google User

  • Sviat and his team at Craftex were brilliant to work with on our office redesign. From the first meeting, they took the time to understand how we actually use the space rather than just pitching generic solutions. They came back with clever, practical ideas to maximise use of the space and get more employees and desks inside . Every step was handled professionally, and the process felt surprisingly smooth for a project of this size. They finished one week ahead of schedule, and the transformation is clear — our office feels brighter, more functional, and much more welcoming. I’d happily recommend Craftex to anyone who wants a reliable design team that also makes the journey enjoyable.

    Cucu Iulian

  • We recently worked with Sviat and the Craftex team on a complete warehouse refurbishment, and the results have been outstanding. From the very beginning, their team was professional, organized, and attentive to every detail. The project was completed on time and within budget, without disrupting our day-to-day operations.

    Simone Racaku

  • My experience with Craftex was excellent from beginning to end. They took the time to really listen to what I wanted and then offered practical suggestions that made the design even better. I always felt like they cared about creating a space that worked for me, not just one that looked nice on paper. The end result is an office that feels stylish, welcoming, and very functional for day-to-day work. The process itself was straightforward, well-managed, and never stressful. I’d definitely recommend Craftex if you’re looking for office design and build services in London — they made the whole journey a positive one.

    Ion Bounegru

  • I’m really pleased with my experience working with Craftex. As a commercial construction firm, they handled everything from start to finish without any unnecessary stress on my side. What impressed me was how they suggested practical ideas that improved the design while also keeping things realistic. The communication was always clear, so I never felt out of the loop. The project ran smoothly, deadlines were met, and the end result is exactly what I was hoping for — a space that feels both functional and modern. It’s not easy finding contractors who are this reliable, but Craftex definitely proved they can be trusted.

    Taron Papoyan

  • I had an amazing experience working with Sviat and the Craftex team on our office fit-out in London. They were always professional, responsive, and quick to offer the best advice whenever decisions needed to be made. I really appreciated how they balanced style with practicality — the office doesn’t just look fantastic, it works perfectly for our team. Everything was done with care and attention to detail, and the project never felt overwhelming because they managed it so well. Communication was clear from start to finish, and I always felt involved in the process. I would happily recommend Craftex to anyone looking for a trustworthy contractor.

    Artur Dvorak

  • Craftex carried out a warehouse fit-out for us, and I couldn’t be happier with the outcome. The space has been completely transformed into a highly organized and efficient environment that makes our daily operations much smoother.
    The team was professional but also very approachable — I always felt comfortable asking questions or giving feedback. They came up with smart, practical solutions that worked perfectly for our setup, and everything was explained clearly along the way.
    The best part was how they stuck to the agreed timeline, finishing on schedule without cutting corners. It’s rare to get both quality and reliability, but Craftex delivered both.

    Roma Shchukin

  • We’re extremely happy with Sviat and the Craftex team’s work. They suggested clever ideas, managed the project efficiently, and delivered a functional, modern space. The team was easy to communicate with and very professional throughout the process!

    Polina Lysenko

  • I can honestly say our office has been completely transformed thanks to Craftex. From the very first meeting, the team was approachable, professional, and full of creative ideas that really made sense for our business. They didn’t just focus on how the space would look but also how it would work for the team day-to-day. The new layout is efficient, modern, and welcoming, and you can tell they really thought about the details. The whole process was smooth and surprisingly stress-free. They kept me updated at every stage, which gave me confidence. I’m really happy with the results and wouldn’t hesitate to recommend them to anyone.

    Mykyta Khadzhynov

  • The results from Craftex’s commercial refurbishment in London are fantastic. The team was friendly, clear in communication, and made sure the project stayed on track. The workspace now feels efficient, welcoming, and modern. Definitely a team you can trust!

    Alaa Betar

  • We hired Craftex for a commercial ground floor fit-out with 2 flats above. There were some minor co-ordination hiccups with third-party suppliers but the team kept it moving. Finish quality was strong. Kitchens and doors look great. I have already asked them for a quote on the next project.

    Ben Edell

  • These guys actually deliver. They handled our first industrial to residential conversion near Tower Bridge, turned an old warehouse into 4 modern flats. They stuck to the plan, kept the site clean and the timing was on point. No hidden extras, no drama, just a professional construction company in London that gets the job done.

    Богдан Главацкий

  • We recently hired Craftex for a commercial office fit-out project in Central London, and overall, we’re really happy with the result. There was a delay on our side with a custom glass partition supplier, but the Craftex team managed the construction schedule very professionally and kept everything on track. Their guys worked clean, respected our workspace and IT setup, and kept the site tidy throughout. If you're looking for a reliable office refurbishment company in London, I’d definitely recommend Craftex. Would use them again without hesitation.

    Ardian Beleshi

  • This was a full high-end renovation of my Victorian rental apartment in Westminster, just off Sloane Square and Belgravia. The scope included full fit-out: electrics, plumbing, a new bespoke kitchen, and a luxury bathroom refurbishment. Craftex took care of everything and made the process easy. They weren’t the cheapest, but you can tell they really know what they’re doing when it comes to prime London property renovations.
    The team was professional, organised, and genuinely seemed to care about getting everything right. I was especially impressed with the quality of the finish – the attention to detail really shows in every corner.
    I’m very happy with the results and would definitely recommend Craftex to anyone looking for reliable, high-quality renovation work in Central London.

    Наталия Цимбалюк

  • I was stressed about timing since we had bookings lined up, but they smashed it. Even worked Saturday to finish the floor. My clients love the look — the beauty salon fit-out turned out exactly how I wanted. Couldn’t have pulled it off without their help. Genuinely appreciate the way they communicated throughout the refurbishment. If you need reliable help with beauty salon design or fit-out, especially in a place like Chelsea — these are the guys.

    Rami Jusupova

  • We used Craftex for a shop-to-flat conversion in Chelsea — turning an old retail space into two rental units. Access wasn’t the easiest, but the guys handled it well, no drama. Quote was clear, no hidden extras, and they actually stuck to it, which is rare. Finish came out solid, exactly what we needed for rentals. Joe (PM) kept things ticking and communication was always on point. All in all, smooth job — would use them again for sure.👍

    Apartify Estates

  • Fuse Energy hired Craftex on the fit-out and installation of our engineering and research centre, which included electrical, heating, lighting, plumbing, and ventilation upgrades. They delivered everything to a high standard and were proactive throughout — even working weekends to help speed up the programme, despite not being contracted to. They managed last-minute changes very well, communication was clear and consistent, and the team was professional from start to finish. We’d happily recommend Craftex to anyone needing a reliable construction partner.

    Hainro Eybers

  • Holistic therapy space fit-out
    Super impressed. I had a very specific vision for the studio. calm tones, soft lighting, hidden storage etc. the craftex team just got it. build was done quicker than I expected and the guys were polite, tidy and actually listened. we had 2 snags on day one but they fixed it before the week was out. worth it for the peace of mind.

    Dariia Shvyryda

  • Made a full refurbishment and redesign of our Central London office. Fantastic work, quality service and reliable people. Can recommend it to everybody

    Nikita Nigai

  • Amazing experience with these guys. I trusted them my apartment in London and Business. They are always accurate, very professional, responsive and neat. They would always advice me right things for my best interest. I had luxury experience with them and I would definitely recommend Craftex to everyone.

    Motush Motushev

  • Could not be HAPPIER with Sviat and the Craftex team, they certainly showed me that they’re the number one office design company in London that we’ve had the pleasure of working with. They gave us a unique design just like we wanted, and we loved the first initial draft of the concept. Also have to give them props for Construction, I gave them a tight timeline as we needed to move our team in ASAP, so they pulled double shifts and I didn’t see a drop in quality. Will be to talking to the team when we move up to our next bigger office. Highly recommended A+++

    Mikhail Burdoev

  • Very professional company. Craftex did brilliant minimalistic design and completely refurbished my apartment to the highest quality.

    Vlad

  • I and my husband are very satisfied with Craftex's service and customer support. We bought a house in Hampstead and wanted to redesign and renovate it. On our initial free consultation with Sviat, we found out that we actually can do loft conversion and rear extension and add value to the property straight away.
    We worked with the Craftex design team to bring our vision to life and deliver planning approvals. At that time guys started stripping out to save time on the construction programme as we wanted to move in ASAP.
    We worked with very experienced project director Konstantin who was responsible for all aspects of project delivery from design to construction with a very good eye on details and customer care.
    We saved a lot of money by having professional advice from the start. Project management and quality at Craftex are at the highest level. Many thanks to Craftex Team.

    Lia Lavryk

  • ISO 9001
  • ISO 14001
  • ISO 45001
  • CHAS
  • Constructionline Gold
  • SafeContractor
  • TrustMark
  • FMB
  • NICEIC
  • NAPIT
  • MCS
  • CSCS
  • Considerate Constructors
  • RICS, Royal Institution of Chartered Surveyors
  • RIBA, Royal Institute of British Architects
  • ARB, Architects Registration Board
  • Public & Employers' Liability £10M
  • Professional Indemnity £10M
  • ISO 9001, 14001 and 45001 certified

Send us the address

Tell us what you own or are about to buy and the deadline you are working to. A director checks the planning history and phones you the same working day with an initial view.

Unit 5, 160 Buckingham Palace Road, London SW1W 9TR

info@craftex.co.uk

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