Office charges could reap £200m
Office charges could reap £200m
- 2002
- Estates Gazette (0225) 22 June 2002, 46(1) .
Research, "Residential development in London", undertaken by London Residential Research calculates that the GLA could raise up to £200m from office construction to pay for social housing. This is an estimate of the commuted charges at a suggested rate of £50 per sq ft that could be made from the 10m-12m sq ft of new offices built every year. This 'gain to stock' would come through a tax on the additional 8m sq ft of space created by office redevelopments.
OFFICE SPACE
LONDON
TAXATION
RESIDENTIAL DEVELOPMENT
Research, "Residential development in London", undertaken by London Residential Research calculates that the GLA could raise up to £200m from office construction to pay for social housing. This is an estimate of the commuted charges at a suggested rate of £50 per sq ft that could be made from the 10m-12m sq ft of new offices built every year. This 'gain to stock' would come through a tax on the additional 8m sq ft of space created by office redevelopments.
OFFICE SPACE
LONDON
TAXATION
RESIDENTIAL DEVELOPMENT