After months of silence finally we hear from Southampton City Council as it opens the next stage consultation on its proposed Community Infrastructure Levy (CIL) charging schedule. Many will be delighted to hear that prices per square metre have fallen since the preliminary table published last year. They are now quite simply:
- Retail (all A classes) £43 per sqm
- Residential £90 per sqm (previously £105 per sqm).
Residential has been reduced by £15 per sqm. The proposed charge of £10 per sqm for industrial, office, leisure and “other commercial” developments has been dropped. Previously a hefty £90 per sqm was proposed for A1. I guess other A classes would have counted as “other commercial” and so their rate goes up from £10 to £43 per sqm. Are restaurants, pubs and takeaways really the best performing developments around at the moment?
The pretty short consultation is open until 17 October.
In a rather ambitious looking timetable the Council hope to have an examination in November/December this year with the Inspector’s report back in December. If this were the case this would leave them free to adopt in January and begin charging probably in the spring.
The key question for developers is “Will my proposal be cheaper before or after?” and now is the time to ask. So ask – call us!