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Projects taking longer to get off the ground as nervous funders run rule over covid risks
Property consultant reports worries over pandemic putting brakes on deals being signed off
Cautious funders are slowing down developments, according to some of the country’s biggest clients.
A report from cost and property consultant RLF said financial risk checks and legal hold-ups have been delaying schemes getting off the ground.
It added: “High land prices and strong investor appetite is matched with considerably tighter scrutiny on deals. Due diligence on schemes is taking longer as investors look to build a deeper understanding of the development before committing funds.
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