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Government To Sell Pre-Approved New Self-Land

The UK government recently announced an action plan to expedite the sale of assets that it no longer requires for official purposes. The plan’s measures include the sale of public sector land that has already received planning permission.

On November 25 of last year, the prime minister gave a keynote speech in front of the Comprehensive Spending Review. He said that it was his intention to create a “smarter state” a goal that was attainable through efficiency, reform, and devolution within the UK government. Mr Cameron said that releasing government-owned land ready for new build homes and closing down government offices can help build badly-needed houses and make home ownership more attainable. There are, he said, multiple opportunities to make a difference to people’s lives as well as their pockets.

The prime minister added that the British government will speed up the sale of assets that it no longer needs, and for the first time there will be sales of public sector land with planning permission already obtained. Melanie Leech, chief executive of the British Property Federation, said that the availability of public sector land was always good news, but it wasn't likely that the land being sold would come with full permission. She said that the permission would be more in principle than anything else.

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Ms Leech added that the sale of government land is nonetheless of great assistance to those who are regenerating the UK’s towns and cities. She said that the government should not have tunnel vision when it comes to prioritising the land for residential developments: to create lively and attractive places where people want to work and live, there has to be an enticing blend of commercial and residential elements. The British Property Federation also hopes that there will be support for a range of residential tenure types within these pre-approvals. Ms Leech said that the rental sector has the ability to make significant contributions to housing supply in the UK, and should receive as much consideration as owner-occupation schemes.

The British Property Federation, which is the UK real estate industry’s membership organisation, works with government and regulatory bodies to help the country’s real estate industry flourish and thereby benefit its members and the economy as a whole. Its members work with the government to tackle the housing crisis, encourage investment in the UK, and give British businesses the chance to grow and contribute to the economy.

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