Property
Gross Development Value (GDV)
Gross Development Value is the projected market value of a property once a planned development or refurbishment is complete.
GDV is the lender's view of what the property will be worth after works finish — used to size development and refurbishment finance, where the loan is being secured partly against future value rather than current value.
Lenders rarely accept the borrower's GDV estimate at face value. A RICS-qualified surveyor produces a GDV figure as part of the valuation report, drawing on local sold-comparable evidence for completed properties similar to what the project will deliver.
An unrealistic GDV is the most common reason refurbishment cases get re-priced or declined. If you're estimating GDV yourself, anchor it to actual sold prices for similar completed properties on the same street or estate within the last 6-12 months — not asking prices, not aspirational figures.