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Public bodies identify enough land to build 102,000 homes

Posted: 1st June 2012   In: Residential Conveyancing

Government departments have identified enough publicly owned land to build more than 102,000 homes.

This puts them well ahead of the Prime Minister’s target of releasing suitable land for 100,000 homes by 2015. The surplus public land includes empty offices and unused storage space at sites across the country.

The Homes and Communities Agency must now make these brownfield sites ready for sale as soon as possible while still ensuring the best value for money for the taxpayer.

The Government also plans to extend its ‘Build Now, Pay Later’ scheme to as many of these sites as possible. The scheme allows developers to start building new homes without the initial expense of buying the land.

Housing Minister Grant Shapps said: "Government is one of the country's biggest landowners - it's only right that we make the best use of our assets, and I can't think of a better use than building the homes this country needs.

"And as this work continues we'll support developers getting on site quickly, through the innovative Build Now, Pay Later deal. This gives builders access to land they only pay for after the homes are built, laying the foundations for new homes and neighbourhoods right across the country."

Please contact Eugene Pritchard if you would like more information about the issues raised in this article.