Build-to-rent specialist Get Living has paused plans to build 1500 homes
A £200million plan to build around 1500 homes in Glasgow city centre has been paused - the developers have blamed Scottish Government-led rent controls for the decision
Rick De Blaby, chief executive of Get Living, said he was acutely aware of the financial pressures most people were experiencing from speaking"on a daily basis" to the residents they served. "We have to draw that balance all the time on how we deliver homes that people can afford and want to live in and still enable some return to the pension fund owners and the tens of millions of pensioners that are affected."
"Levels of capital investment in the country are pretty low, productivity improvement seems to be elusive.for success we have to make sure that the companies that are going to deliver that success are set up well and those high-performing companies that we are all after will predominantly recruit the best talent they can find and those people need somewhere to live.
"It is correct but once you are in, obviously then there is a restriction and at the end of the day it goes to the value of the asset," said the chief executive. It comes after Glasgow City Council leader Susan Aitken told our sister title The Herald that the city centre was experiencing record investment with more projects in the pipeline.
Aditi Jehangir, Secretary of tenants' rights group Living Rent said private developers were attempting to force the government to squash regulation simply because it, "might impact future profits."
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