The Property Blocks revolutionary technology allows the company to develop affordable housing without encroaching on green land.
The shortage of affordable housing in London and the surrounding counties has been an issue for decades which is only getting worse as time goes by.
There is a housing crisis in the UK with UNISON’s website stating “The UK faces a desperate housing crisis. We need to build at least 340,000 homes per year – and of that at least 100,000 good quality social rented homes – as we are not building enough homes to meet demand. This acute shortage of housing, particularly social and genuinely affordable housing, has led to spiraling rents and house prices across the country. Many young people and families on low to middle incomes struggle to afford to rent or buy a decent home.”
The problem in London and the surrounding counties is one of available space. Most new development proposals are for green belt land which is supposed to be protected from development.
So the conundrum is, build necessary homes and lose the green belt, or save the green belt and leave people without affordable homes.
The Property Block was created to solve this issue, and through the use of property development technology is now in the process of doing so.
The technology is able to scan land and property plans and tell the user how to convert the said property or land into multiple units of affordable housing, while also providing financial forecasts to do so.
So for example, the technology may show a house with a sizable garden that can be converted into six two-bedroom apartments with parking, and also indicate the cost to purchase the property and the resale value of the completed apartments.
The property Block uses this information to secure a purchase option on the property, get planning permission to create the affordable homes on the plot, and then sell the option with planning permission to developers and housing associations.
This revolutionary approach allows for much needed affordable homes to be developed quickly, where they are most needed, without destroying treasured green belt land.
The Property Block is growing fast, having started as a four-man operation at the tail end of 2018, it now employs more than thirty staff over two locations, and has recently expanded it’s land and planning department by bringing in two renowned planning and development specialists, Tim Higham and Francis Sikora.
As the company was created with ethics in mind, it has also launched programs to employ ex-military personnel who may be struggling to reintegrate into civilian life and ex-prisoners who wish to be given a chance to fully rehabilitate themselves and become productive members of society.
Director Alexander Hagan spoke about this recently by saying “I come from an impoverished area in the north-east of England with a family of ex-servicemen, some of whom suffered from mental health issues and struggled with integration back into the community, so found themselves back in prison time and time again. This issue is close to my heart.”
With the ethos that they have and the success that is forecast, The Property Block could be exactly what the country needs to solve its housing crises.