Out-Law News | 09 Mar 2015 | 4:47 pm | 1 min. read
Under the adopted charging schedule (66-page / 1 MB PDF), the borough will be divided into four charging zones for residential development. A rate of £190 per square metre will apply to residential development in 'Zone A', which covers Haggerston, Dalston, Hackney Central and Stoke Newington. In 'Zone B', which includes Clapton, Homerton, Hackney Downs and Hackney Marshes, a rate of £25 per sq m will be charged.
'Zone C' covers Clissold Park, Stamford Hill and Woodberry Down, excluding the regeneration area, and will be subject to a rate of £55 per sq m. A nil rate levy will apply to residential development in the Woodberry Down regeneration area, which forms 'Zone D'.
The Council has divided the borough into two charging zones for retail, office and hotel development. In the City Fringe area of Shoreditch, rates of £65 per sq m for retail development and £50 per sq m for office development will apply. A nil rate levy will apply to retail and office development in the rest of the borough. Hotel development in the City Fringe will attract a charge of £80 per sq m, with £55 per sq m charged in the rest of the borough.
A borough-wide rate of £373 per sq m will apply to student housing development. All other uses will be charged a nil rate levy.
In addition to CIL charged by the Council, any developments in the borough will also be subject to Mayoral CIL. The Mayoral CIL charge in Hackney is £35 per sq m on all uses except for health and education purposes, which are exempt.