Developers' Profit in Viability Assessments

Meeting: 
MQT on 2017-01-18
Session date: 
January 18, 2017
Reference: 
2017/0199
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Will you consider lowering the accepted rate of developers' profit (currently 20%)?

Answer

Answer for Developers' Profit in Viability Assessments

Answer for Developers' Profit in Viability Assessments

Answered By: 
The Mayor

My Draft Affordable Housing and Viability SPG sets out my approach to developers profit and is clear that the appropriate profit level will be scheme specific and evidence should be provided by the applicant to justify the proposed profit level.