Object
HAAP: Schedule of modifications
Representation ID: 32851
Received: 06/01/2014
Respondent: Elaine McPhie
The Inspector's changes correctly and appropriately reflect the findings of the Retail and Leisure Study 2008 but the changes will impact on the project finances and there is absolutely no evidence that the revised overall proposals are financially viable. The original viability analysis as presented in the submission copy of the HAAP contained a major error (omitting land assembly costs) and the plans for more offices are contrary to their own expert's advice (see Evidence Base letter from GL Hearn). The changes may well impact the financials and an updated viability analysis is required.
The Inspector's changes correctly and appropriately reflect the findings of the Retail and Leisure Study 2008 but the changes will impact on the project finances and there is absolutely no evidence that the revised overall proposals are financially viable. The original viability analysis as presented in the submission copy of the HAAP contained a major error (omitting land assembly costs) and the plans for more offices are contrary to their own expert's advice (see Evidence Base letter from GL Hearn). The changes may well impact the financials and an updated viability analysis is required.