For a long time, house builders and industry experts alike have been lamenting the amount of time it takes to get a site through the planning process and ready for residential development. Delays have been holding back development for some time now, and according to an independent review by Bridget Rosewell into the process that has recently been submitted to the Government, outdated administrative processes and poor IT infrastructure have been unnecessarily holding up cases.
Secretary of State for Housing, James Brockenshire, will be working alongside the Planning Inspectorate to speed up the process, especially in the case of appeals which are estimated to be reduced from a 47 week wait time to just 26 weeks.
Brokenshire commented: “the review has produced a fantastic report and provided us with a clear direction of travel on how we can ensure the appeals inquiry process is fit for purpose. Reducing the time it takes to secure crucial decisions ensures the delivery of more homes, in the right places, and help us reach our ambition of 300,000 new homes a year by the mid-2020s.”
Alongside his assurance that reducing the time taken for planning appeals to be reviewed will help speed up house building across the country, he also states that it will give house builders and communities alike a better indication of when to expect decisions on new developments.
While speeding up the planning process is undoubtedly a step in the right direction, the UK is still in the midst of a shortage of suitable land being identified for residential development and this remains an issue standing in the way of new homes being built.
At Intro Crowd, we’re giving qualified investors the opportunity to collectively fund the purchase of strategic land sites across the country. These sites are Greenfield in nature, meaning they have had no prior development and have instead been used for agricultural or leisure purposes.
They will typically be located next to an existing settlement and in our opinion, will often be the next logical place for development. Due to their close proximity to an existing settlement, they will usually have good road access and will also have access to local amenities such as shops, schools, medical care and public transport. This makes the sites sustainable in nature, which is often attractive to house builders.
Once these sites are fully funded on the Intro Crowd platform, their experienced Planning Team will put the sites through the planning process and if successful, will aim to sell them on to a house builder for residential development.
For more information on anything mentioned in the article above, or to learn more about Intro Crowd and how we work, contact us today on +44 (0)20 7118 4040 or email us at firstname.lastname@example.org
This article is for educational purposes only and does not constitute investment advice. This article does not amount to an invitation or inducement to buy or sell an investment nor does it solicit any such offer or invitation in any jurisdiction.
In all cases, readers should conduct their own investigation and analysis of the data in the article. Readers are strongly encouraged to seek independent legal and financial advice when considering an investment in strategic land. All statements of opinion and/or belief contained in this article and all views expressed and all projections, forecasts or statements relating to expectations regarding future events represent Intro Crowd’s own assessment and interpretation of information available as at the date of this article.
No responsibility or liability is accepted by Intro Crowd or Sapia Partners LLP for reliance on the contents of this article.