| Topic: | Reply | |
| Posted by: | Gordon Southwell | |
| Date/Time: | 11/06/26 12:07:00 |
Do you know what kind of flats the empty ones are e.g. market sale, affordable, social rent? The logic behind setting up Broadway Living was sound. It was the best way to reduce borrowing costs. Its failure was inevitable due to rising interest rates and construction costs but even experienced private sector housebuilders are struggling at the moment. When it was set up nobody was saying — hang on we are going to leave the EU making it much more expensive to build homes and Russia is going to invade Ukraine causing more inflation and higher interest rates. The major error in all this was the appointment of Henry Construction although there is a possibility that the failure of this company might have saved the council from even greater losses because they would have spent more on schemes that they were then unable to sell. |