Profit Sharing Joint Venture – Brunnel Copper Works
The Brunel Copper Works in Cwmavon, Port Talbot was allocated within the Neath & Port Talbot local plan, however it had failed to come forward for development for over 15 years. This was due to the fact that the cost of a full site investigation and understanding the development constraints were seen as prohibitive to the landowner. With the abnormal development costs unknown, it was difficult for the landowner to understand the risk profile. In addition to this, a new technical advice note on flooding issued by the Welsh Assembly had blighted a significant area of the site, rendering residential development unviable.
By partnering with BXB, a remediation strategy, outline planning consent and abnormal cost schedule were delivered within 18 months, allowing the onward sale of the site to Barratt, South Wales. In addition, BXB demonstrated the site met the flooding criteria set out in the new technical advice, ensuring the footprint of the site was maximised. BXB’s expert advice and support resulted in the landowner securing a payment from Barratt £2 million in excess of their initial expectation.