New research by property consultants Knight Frank predicts that 173,000 new homes could be built as a result of simplified planning rules which the government introduced in August, 2020. The changes permit property developers and owners to bypass elements of planning law, allowing vertical extensions of up to two stories on residential and commercial blocks, as well as mixed-use buildings.
The study by Knight Frank suggests that in the nine big cities they looked at there were 17,000 structures which could benefit under the new regulations. If all the blocks were to be developed almost 350,000 extra people could be given accommodation, and the new dwellings created could account for over half the 300,000 new homes targeted by the government by 2025. The new rules will apply to buildings already at least three storeys high, with the finished structure to be no more than 30 metres high. Conservation areas, listed buildings and buildings close to airports are excluded.
Similar rules are being applied to residential properties of two stories in height. This means that terraced, semi-detached and detached homes can be developed upwards by an additional two stories, up to a maximum of 18 metres in height. Loft conversions will be fast-tracked, and developers will be permitted to sidestep planning law to convert shops and commercial buildings into homes.
Knight Frank claims that up to 7 million square metres of rooftops will be available for development, with many local authorities and housing associations likely to benefit from the new rules. London could account for the bulk of the homes created, with 136,000 of the new dwellings. Commenting on the research Stuart Baillie, Head of Planning at Knight Frank, said: “Given the pressure on our green spaces, building skywards to utilise space above existing properties creates an interesting development opportunity.”
He added: “…not all 17,000 buildings within our findings will be developed. However, even if 50 per cent could be achieved, that would still make a significant contribution towards housing need without impinging on the green belt.”
Bretherton Law have been serving people and businesses in Hertfordshire for over 50 years. If you are buying or selling business premises, looking to lease a new property, or subject to a rent review our experienced Commercial Property team will give you honest, professional advice. Contact Osman Dervish on 01727 869293, or use the contact form below.
For further information see: Planning for the future explained
