PRS Landlord Wants Section 106 Relaxed

A private rented sector landlord is calling for local authorities to adjust section 106 requirements for private rented sector landlords, as it seeks to more than double its portfolio with cash from an Abu Dhabi investor.  Fizzy Living is eyeing a 100-unit site in west London for its next development, following a £200 million cash injection from an arm of the Abu Dhabi Investment Authority. Harry Downes, managing director of Fizzy, said local authorities must relax section 106 requirements to allow the business to compete with traditional house builders for land. He said ‘a great many’ local authorities were considering the move - which would involve reducing or removing the need for planning gain for private rented sector developments. ‘There are a great many local authorities that absolutely support this,’ he said. Read more on Inside Housing.