I thought it might be helpful to keep you up to date on the issue of 'land value capture' and affordable housing, following our successful seminar in Bournemouth in October.
We have already managed to help a number of new clients in re appraising schemes with a view to renegotiating affordable housing and planning contributions over the next few months. This means developments can still progress even in these difficult times, which means everyone wins.
The main subject of our series of seminars, 'land value capture', is now starting to make even local newspapers take notice, with the Bournemouth Echo running this article about a local councillor concerns about 'unrealistic and unworkable' policies with Council’s fixing developer profits.
Click here to read Bournemouth Echo article
The article highlights the uncertainties on both sides as to how to progress planning negotiations with adopted planning policies requiring high proportions of affordable housing, particularly on small sites. Indeed, the trend for Councils to require affordable housing on sites as small as 1 or 2 units is increasing apace across the South of England and London.
All the more concerning because the Government is looking to endorse land value capture as part of the national housing strategy in this December’s Pre Budget Report.
The key to this is to ensure that Council’s policies are flexible to account for the current difficult economic climate, to allow reasonable land values to be achieved and realistic developer profits to be made to ensure development finance can be raised to carry out the development.
Developer concerns about the ever increasing costs on development, is highlighted in the ongoing legal challenge by Barratt Development against the Wakefield Core Strategy.
We will be discussing the Wakefield challenge along with these other very important issues in our next free seminar in Cobham on the 3rd December, so please click on our web site link if you would like to attend.
I will look forward to seeing you.
for and on behalf of Levvel Ltd
Leigh House, 147 Leigh Road, Wimborne, Dorset, BH21 2AD
Tel: 01202 639 444 Fax: 01202 881 868
News updates have just been put on our website www.levvel.co.uk
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