Moved by
Lord True
116A: After Clause 141, insert the following new Clause—
“Compensation to businesses expelled from premises to enable conversion from office to residential use
Any property owner, developer, or agent, who gives notice to a solvent and active business in order to enable the conversion of office premises to residential use, shall be required to—
(a) meet the full costs of the planning authority in advising on and determining such an application;
(b) make a contribution to the local planning authority of not less than 20% of the net profit gained from the difference between the office and residential value of the property concerned; and
(c) share not less than 50% of the net profit gained from the difference between the office and residential value of the property concerned with any business or businesses expelled from the premises to enable the change of use.”