Old Oak corporation plans £250/sq m student home CIL rate

Plans to charge up to £250 per square metre for student housing developments are included in a west London development corporation's draft community infrastructure levy (CIL) charging schedule, which has been published for consultation.

Old Oak: Draft CIL schedule published
Old Oak: Draft CIL schedule published

The Old Oak and Park Royal Development Corporation (OPDC) is developing a new community on a 650 hectare site close to the site of Old Oak Common station.

Its proposed CIL rates in the draft charging schedule start at £250 for a square metre of student housing, with retirement housing set at £160 for the same space.

Other residential development would cost £175 per square metre under the proposals.

Offices would require payment of £70 per square metre and hotels £80. Large food retail developments would be charged at £125 per square metre, and other retail at £50.

The draft CIL charging schedule document said: "The regeneration of Old Oak and Park Royal will require an enormous investment in infrastructure and there will be a need to secure reasonable contributions from developments within the area to facilitate its delivery."

It added that the CIL would be "an appropriate and essential means of ensuring the timely and balanced delivery of infrastructure within the area".

"Overall in setting the rates there has been a cautious approach in order to achieve the balance between encouraging development within the OPDC area and the ability to contribute towards the funding of the demand for infrastructure that the development in the area will generate", the document said.

A consultation on the draft schedule began today and runs until 25 November.

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