City of London adopts CIL charging schedule

Out-Law News | 22 May 2014 | 4:00 pm |

The City of London Corporation will implement community infrastructure levy in its area from 1 July following adoption of its charging schedule earlier this month. 

Residential developments in the City will be subject CIL rates of £150 per sq m in the 'Riverside' charging zone and £95 per sq m across the rest of the City. For office developments, a city-wide rate of £75 per sq m will apply.

A nil rate levy will apply to medical, education and emergency services developments and all other types of development across the City will be charged at a rate of £75 per sq m.

The City of London's draft charging schedule was approved by an examiner in January.