The green infrastructure valuation toolkit user guide

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Building natural value for sustainable economic development: the green infrastructure valuation toolkit user guide Well kept parks and green spaces enhance property values in the neighbourhood, with uplift ranging from 3% - 20%. Properties within 450m were considered to have their value increased. The total value of this was £18.8 million (PV). Investment The positive perception of the area created by the park may have an impact on private sector investment decision making, but further analysis would be required to make a quantitative estimate. Tourism Increased visitor numbers bring additional expenditure, supporting local employment. This was calculated to have a value of £979,000 (PV). Recreation The park clearly provides extensive opportunities for recreation. 103,500 users per annum were estimated and, based on a “willingness to pay” measure, the recreational value was calculated to be £822,000 (PV). Summary The results showed that the overall benefits were valued at £20.81 million - £21.01 million. 90% of this benefit was associated with the impact on adjacent residential property values. The other monetisable benefits amounted to £2.07 million - £2.21 million per annum at net present value. 73
Building natural value for sustainable economic development: the green infrastructure valuation toolkit user guide Appendix 2: Initial data requirements The table below shows the Project Data Entry sheet featured at the beginning of the Calculator. Fields highlighted in yellow are for data entry. Current Proposed Project area 0 0 ha Linked to tool 1.4 Total area of greenspace 0 0 ha Linked to tools 1.4, 2.1, 4.7 and 10.1 New green space created n.a. 0 ha Linked to tools 2.1, 4.7, 5.1 Area of greenspace enhanced n.a. 0 ha Linked to tool 5.1 Current Proposed Trees/tree cover 0 0 number/ha Linked to tools 1.7 and 3.4 Additional tree cover n.a. 0 number/ha Linked to tool 1.5 and 1.7 Green roofs Total area 0 0 sq.m Linked to tool 1.5 Current land use Project context eg inner city, urban or rural area (or a mix of all) Land ownership What is the level of deprivation in the area Refer to IMD data Is there currently a lack of green space in the area Refer to local open space audit results and associated open space standards. Refer to national benchmarks such as ANGsT standards. How will this project help Does the site have heritage value What features are being enhanced/protected/ promoted through the project Context only Context only Context only Context. Can contribute to business case. Context. Can contribute to business case. Context. Can contribute to business case. Current Proposed Cycle routes 0 0 km Linked to tool 4.2b Current cycle routes upgraded n.a. 0 km Linked to tool 4.2b Footpaths 0 0 km Linked to tool 4.2a Footpaths upgraded n.a. 0 km Linked to tool 4.2a Is the land publicly accessible Is the site currently well connected or remote Will the project improve green travel options Assessment of transport impact conducted Links to existing networks Context only Context only Context. Can contribute to business case. Context. Can contribute to business case. Context. Can contribute to business case. 74
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The green infrastructure valuation toolkit user guide

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