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10-Mar-2020 03:33
It asked for more details about the grant, including when it would hear if had been successful.It also questioned what would happen to the affordable housing level should a bid fail.
Mr Bignall explained: “Arguably a development could be considered unlikely to come to fruition unless it can achieve a profit margin of around 20-25 per cent of GDV (gross development value).
The commitment, however, could be conditional on a £7.8million grant from Homes England – an offshoot of the Ministry of Housing, Communities and Local Government – according to a viability report examining the plans.