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The Battersea Power Station affordable housing scandal: How Wandsworth Gave away over 1000 affordable homes to a failing developer

July 13, 2017 By George Turner 41 Comments

The Battersea Power Station affordable housing scandal: How Wandsworth Gave away over 1000 affordable homes to a failing developer

Previously confidential documents show that whilst Londoners faced an affordable housing crisis, Wandsworth Council negotiated away over 1000 affordable homes on the Battersea Power Station site in order to prop up the failing company Treasury Holdings. The attempt to bail out Treasury with permission to build luxury properties failed, the company went into administration shortly […]

Filed Under: Case Studies, Viability, VNEB Tagged With: Battersea Power Station, BNP Paribas, Lloyds, NAMA, VNEB, Wandsworth

Sadiq’s deal with the developers – The Affordable Housing and Viability SPG

March 5, 2017 By George Turner 2 Comments

Sadiq’s deal with the developers – The Affordable Housing and Viability SPG

Last week the consultation on the Mayor of London’s new Affordable Housing and Viability Supplementary Planning Guidance closed. You can see and download my full response to the consultation at the end of this post, but the main issues are summarised below. Viability and affordable housing The issue of affordable housing and viability has been […]

Filed Under: London Mayor, Viability Tagged With: Affordable Housing, Mayor of London, RICS, Sadiq Khan, Supplementary Planning Guidance, Viability

Not just a betrayal – The Mayor’s affordable housing ‘aspirations’

December 4, 2016 By George Turner 6 Comments

Not just a betrayal – The Mayor’s affordable housing ‘aspirations’

It has taken less than a year for the new Mayor of London to abandon the firm commitment to mandate that 50% of homes on new developments are built as affordable housing. Now, in a deal with London’s property developers he has announced that he will only be seeking 35% affordable housing on new homes. […]

Filed Under: London Mayor, Viability Tagged With: 35%, Affordable Housing, Mayor of London, Mount Anvil, SPG, Viability

House builders’ profits explode 5x in 6 years

November 19, 2016 By George Turner 6 Comments

House builders’ profits explode 5x in 6 years

Profits at major house builders suggest that building more affordable homes in London is possible  Currently, private developments in London are only delivering 13% of their new housing as affordable housing. Most London boroughs have a requirement that 40-50% of housing on new developments is classed as affordable. The argument often put by the house-building […]

Filed Under: Planning Issues, Viability Tagged With: Affordable Housing, Barratt, Bellway, Berkeley, Persimmon, Profits, Taylor Wimpey, Viability

Sadiq spins the revolving door for financial viability consultants

October 5, 2016 By George Turner 2 Comments

Sadiq spins the revolving door for financial viability consultants

In August, the new Mayor of London Sadiq Khan announced that he would be employing an expert group to scrutinise affordable housing viability assessments, the documents property developers have to submit to councils when they want to drop affordable housing obligations. We have reported on a number of occasions on how viability assessments are used […]

Filed Under: London Mayor, Policy Makers, Viability Tagged With: caroline pidgeon, GLA, RICS, Viability Consultants

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Investigative journalism telling the real story of contemporary London. In particular we are interested in:

Planning, development and affordable housing

Estate Regeneration and compulsory purchase

Bad practice and fraud in the property and development industry

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George TurnerGeorge Turner - an investigative journalist digging the dirt on London's property and development industry Read More

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Recent Comments

  • John on Lockdown Landlords Acquitted
  • Concerned Citizens (@dequacivis) on The Battersea Power Station affordable housing scandal: How Wandsworth Gave away over 1000 affordable homes to a failing developer
  • HCLG Report Highlights ‘Lockdown’ as a significant problem – Hanworth.org on Lockdown landlord convicted for breaches in Planning Act
  • Hussain on The Housing Crisis
  • Ben Jamin' on The Housing Crisis

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Recent Comments

  • John on Lockdown Landlords Acquitted
  • Concerned Citizens (@dequacivis) on The Battersea Power Station affordable housing scandal: How Wandsworth Gave away over 1000 affordable homes to a failing developer
  • HCLG Report Highlights ‘Lockdown’ as a significant problem – Hanworth.org on Lockdown landlord convicted for breaches in Planning Act
  • Hussain on The Housing Crisis
  • Ben Jamin' on The Housing Crisis

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