Belfast·SPG002 Development Viability·Page 22·Figure 4.5
Build to Rent (BTR) Financial Assumptions
Sets out standard financial assumptions for developer return, rental yields, and rates applicable to Build to Rent schemes, differentiating between forward-funded/institutional investor models and debt-based investments.
Type Cost Measure
Developer return: 10% (for schemes which are forward funded or sold to an institutional investor) of Gross Development Value (GDV); 15% (for debt-based investments) of Gross Development Value (GDV)
Rental yields: 5% of Gross Development Value (GDV)
Rates: Prevailing rate, less 10% landlords' discount of Gross Development Value (GDV)
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