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Friday, October 26, 2018

Grosvenor's £1bn build-to-rent plan could fail affordable housing test

Plan for London flats by Duke of Westminster’s group do not comply with Southwark policy

A £1bn build-to-rent project of four- to 28-storey apartment blocks in south London is in deadlock as the local council battles the developer to ensure more affordable flats are made available.

Like developments built for sale, councils can require build-to-rent projects to have a minimum number of units at an “affordable” rent, meaning they are let at a minimum of 25% below the standard market rent.

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