Network Rail will facilitate the sale of surplus government land for housebuilding, with 40,000 new homes predicted over the next decade
As part of the Spring Statement announcements, the Treasury confirmed that a new cross-government taskforce will be set up to release surplus public land for housing. Network Rail will set up a new property company to unlock land for housing, in tandem with unused Ministry of Defence sites being earmarked for armed forces families housing.
It is not clear how many of the Network Rail property company’s developments could contain affordable housing.
Public and private investment will be sought to develop brownfield sites.
Sites already in the pipeline for development by the Network Rail property company include:
- Newcastle Forth Yards: a 100-acre regeneration opportunity which could deliver 5,000 new homes
- Manchester Mayfield: opportunity for 1,500 new homes
- Cambridge: a mixed-use development with 425 homes
- Nottingham: 200 new homes following 348 successfully delivered homes at The Barnum, Nottingham
Making use of a “huge untapped resource”
Speaking after Wednesday’s spring statement, chancellor Rachel Reeves said that surplus government land was “a huge untapped resource that could create opportunities for the next generation of homeowners”.
She added: “The OBR (Office for Budget Responsibility) has confirmed our planning reforms will result in housebuilding being at its highest in over 40 years – that won’t just bring jobs and economic growth – but also will give families the homes that they deserve, delivering on our plan for change.”
