The UK government has released a package designed to make land available for thousands of new homes.
The scheme, which is worth £54 million, is part of a new governmental partnership to make better use of property owned by the government.
The total consists of two land release fund programmes:
- The ‘Land Release Fund’ from the Department for Communities and Local Government. The goal of this £45 million funding is to release surplus or unused land to help make enough council land available for at least 160,000 homes by 2020. Councils can now seek funding for small-scale infrastructure and land remediation, making sites available for housing.
- One Public Estate. This bundle makes £9 million available to help more councils deliver ambitious programmes related to property delivery.
It is anticipated that by 2020, councils taking part in the programme will deliver £615 million in capital receipts and cost savings of £158 million. Land will be released for 25,000 new homes and 44,000 new jobs will be created.