The Bristol Condos are expecting to receive around £300m in tax cuts and improvements.
The Bristol-based company, which owns eight condominium developments across Bristol, is due to reveal its 2017/18 budget this week.
“This is not because the council or the local authorities are not investing in the development. “
“However, we are able to increase our development tax income from around £100m to around £150m.””
Bristol Council said: ‘We want to see Bristol’s residents enjoy more affordable housing and affordable housing is one of our top priorities for the council.””
However, we are able to increase our development tax income from around £100m to around £150m.”
Bristol Council said: ‘We want to see Bristol’s residents enjoy more affordable housing and affordable housing is one of our top priorities for the council.
“Bryant was one of four directors to give a speech at the launch of the Bristol Conde projects, with a focus on improving the housing stock.
Bristols development tax cuts, announced in December, have helped the group to expand its portfolio to eight projects in Bristol and south Somerset.
It has also expanded its development to a number of new developments in the Bristol-on-Avon area, and in Brighton, with more than 100 properties planned.
Bridgette Jackson, director of the Brighton Development Corporation, said: “‘Bristos Development is an important development partner, and we are proud to have them as part of our Bristol-On-Avons Development Partnership and support.”
Brent Smith, director for Bristol-South West said: “We want Bristol’s housing stock to be as well-managed as possible so the local communities can benefit from the investment in their housing stock.”
The Bristol condominium development tax reliefs come into effect from April 1, and include a £10,000 increase in the average rate of corporation tax on property owned by Bristol-related companies to 50p.
Bribery and fraud charges will also be brought under the Prevention of Bribery Act, which was introduced in 2018.