Out-Law News | 10 Mar 2015 | 4:55 pm |
Under the adopted charging schedule (13-page / 2.0 MB PDF), the borough will be divided into five charging zones for residential development. The Council has set residential development rates of £300 per square metre in the 'South of the M4' strategic development location (SDL); £320 per sq m in the 'South Wokingham' SDL; £340 per sq m in the 'North Wokingham' SDL; and £365 per sq m in the 'Arborfield' SDL. Residential developments in the rest of the borough will attract a charge of £365 per sq m.
Sheltered housing development will be charged a rate of £365 per sq m within the SDLs and £150 per sq m in the rest of the borough. Residential institutions in and extra care housing will attract lower charges of £100 per sq m within the SDLs and £60 per sq m outside them.
A nil rate levy will apply to retail development in the town centres of Wokingham and Woodley, the Lower Earley and Shinfield Road district centres, the Twyford and Winnersh village centres and within the Arborfield SDL. Retail development in the rest of the borough will be charged at £50 per sq m.
A borough-wide nil rate levy will apply to all other development types.