Chief executive gives warning at housing conference
Created on Wednesday, June 26th, 2013
by Michael Futers
Derwent Living’s chief executive Peter McCormack launched an attack on proposals from the Homes and Communities Agency (HCA) to severely restrict commercial activity. Speaking at the Chartered Institute of Housing conference in Manchester today he said that HCA proposals would vastly reduce the number of new homes that are built.
‘If the 5 per cent restriction comes to pass we would have to halve our development programme.
‘It is a successfully managed business, we are making money doing good, if these regulations come in we can only do half. Madness.’