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IS THE GREENBELT RESTRICTING HOUSE BUILDING IN THE UK?

As industry experts and politicians place a greater focus upon the UK housing crisis, it is only natural that we begin to look a little closer at how current restrictions and regulations are holding back the quantity of new homes being built across the country.

The latest to receive criticism in the press are the regulations around Greenbelt land. The Greenbelt was first introduced as a means to protect the UK countryside and prevent the effects of urban sprawl during a period of widespread development, however it has more than doubled in size since 1979 and now encompasses a wide range of sites from the rolling green fields you’d expect when you hear the name, to undeveloped scrubland sites.

According to a recent article in City AM, a large proportion of the Greenbelt is relatively inaccessible and the severe restrictions on sites such as these have pushed up housing costs for surrounding areas and have “exacerbated the impact of expensive and environmentally damaging commuting”.

They go on to state that if just one tenth of the Greenbelt land surrounding Greater London was used for residential development, a huge 160,000 new homes could be provided around the capital, which would be a significant response to the urgent housing crisis in London.

If that is the effect of just one tenth of the land around London being released for development, what could the UK achieve with one tenth of Greenbelt land around the country being released for development?

While this seems promising, there could be a better way to provide the land required for building without having to infringe upon Britain’s protected Greenbelt. By utilising undeveloped Greenfield land, enough land could still be provided for development while the Greenbelt would remain untouched.

Greenfield land refers to undeveloped land sites that have previously been used for agricultural or leisure purposes. At Intro Crowd, we give qualified investors the opportunity to collectively fund the purchase of Greenfield sites that are located close to existing settlements and often in the next logical place for development. This makes them strategic, and therefore they are referred to as “strategic land.”

Due to their location close to existing settlements, these sites will often have good road access and access to local amenities such as shops, schools, medical care and public transport. This in turn makes them sustainable sites, and it is this type of site that is often attractive to house builders.

Once these sites are fully funded on Intro Crowd’s bespoke online platform, our experienced Planning Team will put the sites through the planning permission process, and if consent is given will then aim to sell them on to a house builder for residential development. This in turn helps to increase the quantity of suitable land being released for housing across the country, providing a partial solution to the UK housing crisis.

To learn more about Intro Crowd or how this process works, please do not hesitate to contact us on +44 (0)20 7118 4040 or via email at incrowd@introcrowd.com 

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.

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