| Topic: | Re:Re:Re:Selling Stirling Road site? | |
| Posted by: | Jeremy Parkinson | |
| Date/Time: | 14/03/21 08:33:00 |
| The company has been set up with a massive loan from the government which has been taken out by the government with the capital being given to the new vehicle. It is essentially an attempt to cut out private developers but if it wishes to generate a profit then it will face the same dilemma they do namely that the more affordable you make a property the less profit you make on it. Social housing is guaranteed to make a loss so it is unlikely to make up a significant amount of the units developed by this company. A similar venture by Croydon Council has failed leaving council taxpayers saddled with a huge amount of extra debt. |