Research commissioned by the Mayor of London, Sadiq Khan has shown how we can learn from countries such as the Netherlands, Germany and the USA on how to speed up processes on land developments
The study pays particular attention to the powers that the mayor should be granted, in order to step in regarding compulsory purchase orders in London.
The report suggest new methods for limiting land value speculation in areas due for development, which could in turn lead to more rented and affordably priced homes in London.
The process of land assembly – the procedure of combining a number of individually owned allotments of land to create one site for developments – is complicated and has obstructed the creation of new homes in the capital.
Saqid Khan has said that since his time in office, he has met many obstacles when trying to bring forward development plans and hopes the government will reform compulsory purchase orders and land assembly agreements to help expand his limitations.
He said: “This report shows how giving City Hall more powers to bring land forward and ultimately buy it if necessary, as is common in other parts of the world, would help us build more homes, more quickly.
It also shows how practical steps to curb speculation – where owners and developers trade land and see its value go up and up – could help us build more social rented and other genuinely affordable homes.
I am using all the resources I have to their fullest extent to get more homes built in London, and will implement the recommendations of the report as far as my current powers and resources allow.
But we need greater devolution of powers and investment from the government to help us truly shift the gear and make a step change in the number of homes we are building.”
The full report titled ‘Capital Gains: A Better Land Assembly Model for London’ will be launched tonight (14th May) at an event hosted by London First and Dentons.
