As of the 16th January 2021 it has been announced by the Housing Secretary, Robert Jenrick MP that the public will be able to convert vacant plots of land and derelict buildings into new homes or community spaces.
As you are likely already aware, we use our technology to identify development sites in areas with demand for more housing, therefore having a new Right to Regenerate will enable us to also now develop the councils and public sectors unused land and assets.
This is great news as it makes our process a lot simpler, quicker, and easier. Not only will this benefit us as a company, but this will also allow us to help communities make better use of their public land and give a new lease of life to unloved buildings.
The latest figures show that there were over 25,000 vacant council-owned homes and according to recent FOI data there were over 100,000 empty council-owned garages last year. This is also something we are excited about as it gives us the opportunity to transform the local housing stock into something new that will enhance the community.
Tom Chance, Chief Executive of the National Community Land Trust Network has said: “We welcome these plans that could help communities to turn abandoned and neglected land and buildings into fantastic community assets. There are hundreds of community land trusts across the country wanting to build much needed affordable housing, but getting hold of land at an affordable price is a huge barrier.”
At The Property Block we are huge believers in the restoration and development of communities and one of the things we pride ourselves on is wanting to build more affordable housing for the community. This new right has come at an amazing time in the development industry and we can not wait to take full advantage in the coming months. We will continue to update you on all news as we work with this new opportunity.