The Government has reiterated its support for housebuilding by reinforcing the available funding for Local Authorities, landowners and developers to help deliver more development sites.
The recent announcement by the Housing Minister Gavin Barwell of an £18million funding pot is aimed at supporting Local Authorities, enabling them to procure services from private sector consultancies to advise them in relation to large-scale development schemes and the delivery of Housing Zones.
As part of the announcement, areas of South East Blackburn around Haslingden Road were declared an official ‘Housing Zone’, allowing Blackburn with Darwen Council to apply for support to redevelop the area close to Junction 5 of the M65.
The Government, along with the Homes and Communities Agency (HCA), “recognises the significant contribution large sites and housing zones make to the provision of future housing and new communities” and are offering Councils the opportunity to bring in additional resources to ensure such sites can help to underpin the supply of new housing in Local Authority areas.
This assistance to Councils is complemented by the HCA’s £3 billion ‘Home Building Fund’ that is available to developers and private enterprises as a significant source of support in relation to both development and infrastructure finance. Such funding is available to help release sites of all sizes, from five units upwards, and is a welcome boost to the market across the spectrum, particularly in locations/on sites where cashflow, rather than more practical development matters, is impeding delivery.
The availability of financial support, particularly in relation to infrastructure, can be vital to ensure that such developments are brought forward and the value of the land assets are realised.
Lea Hough Chartered Surveyors have a specialist planning and development team who work extensively on the delivery of large-scale residential-led schemes and understand the complexities involved. We work closely with Local Authorities, the HCA, and private and corporate landowners. We are therefore well placed to advise to address a wide range of planning and development issues.
Please contact David Bailey, MRICS, Chartered Planning & Development Surveyor on Tel: 01772 458866 or Email: david.bailey@leahough.co.uk or see more at https://www.leahough.co.uk/services/planning-development/
