Developers of student accommodation in the UK face higher costs
Developers in the UK looking to enter the lucrative student accommodation market will face significant additional costs in the coming year due to new levy, it is claimed.
The Community Infrastructure Levy (CIL) is due to replace the infrastructure element of Section 106 over the coming 12 months and when the changes take effect, developers could have to pay significantly higher public contributions, according to a report from CBRE.
CIL is not fixed at a national rate, but is being set locally by each Local Authority …