As we walked on to stage to collect the Yorkshire Property ESG Award, it felt like we had come a long way since the initial idea in a car over two years ago. As we drove past another bog-standard development scheme we recognised that we (and the world) needed something that could demonstrate and forecast the benefits of more sustainable developments; something that would change perspectives and move the starting point of projects from being primarily focused on costs and returns to something more holistic;
“Wouldn’t it be great if we could measure and forecast the additional value that could be created through delivering developments to more sustainable standards?”
3ADAPT Director, Phil Hampshire collecting the award with Luke Axe and Catherine Cairns of Keyland Developments.
Motivated by the work we had been doing with Keyland on Esholt Positive Living we set off on a shared and collaborative journey to develop an approach to test and quantify the impact of delivering developments to exceptional standards.
Fast forward two and a half years, and what we have developed is a model capable of undertaking the most holistic assessment of residential and commercial developments across natural, social, human, intellectual, manufactured, and financial capitals (the “Six Capitals”). This draws on referenced data from hundreds of sources and the model now has the capability to assess the impact of a multitude of interventions including design variations, delivery models, and construction standards across over 30 impacts areas.
A selection of impacts considered using the Blueprint Valuation Model
The 3ADAPT brain power which has informed the Six Capitals Valuation Model has been, quite frankly, mind-blowing.
Luke Axe, Director at Keyland Developments
This can be applied on a site-by-site basis or aggregate sites to consider the value across a whole development portfolio. This is demonstrated in the Keyland Blueprint Policy which forecasts the value Keyland could create across their development portfolio planned for the next five years. In addition, it also explicitly outlines Keyland’s expectations of themselves and others to deliver this value.
The ‘Blueprint Policy’ and ‘Six Capitals Valuation Model’ is now integral to Keyland’s approach. They are used to inform land appraisals, the development of project briefs, supply chain procurement and technical design reports. As projects are progressed through the development process, the model allows us to input improved information and real-world feedback which enables our Valuation Model to learn and ensure our next predictions are more accurate. This will allow us to plan and deliver exceptional places more effectively in the future.
The ultimate aim of the Six Capitals Valuation Model is to inform projects that address the climate and ecological emergencies, emphasise wellbeing, are more inclusive, support a stronger sense of community, create exceptional and resilient places, provide local employment and support good growth. In summary, the use of the six capitals valuation model, in collaboration with design teams and project partners, supports communities to build back better post COVID-19. We are doing this with the belief that delivering more for society is not just the right thing to do, but also beneficial to our own long term sustainability.
We are genuinely proud of the work we have done together, from the desktop research on how various design and delivery interventions impact on value, right through to the development of an interactive model. We genuinely think this could be a game changer for the industry, allowing users to test and quantify their impact and demonstrate the value they can bring to society through targeting better development standards.
Jamie Rendell, Sustainability Consultant, 3ADAPT
SO WHAT’S NEXT?
We will continue to support Keyland on embedding the Six Capitals approach across their business and developments. We are also looking to work with other like-minded organisations, local authorities, public sector bodies and charities who are looking to improve their own impact and have a positive impact on their organisations, partners, communities, and environment.
WANT TO KNOW MORE?
If you would like to know how we can support your organisation understand its sustainability impact, we would love to hear from you. Please get in touch.
