London Development Sites
Property development opportunities in London
Essential news affecting the world of property
7 August 2020
Keystone London and GLA Land and Property are to gain outline consent for the redevelopment of the West Silvertown area of the Royal Docks. The scheme masterplanned by Foster and Partners will be know as Thameside West and includes 5,000 homes, 19,000 sq m of workspace, 7,000 sq m of leisure and retail, a new riverside park and a new DLR station.
MORE6 August 2020
The UK government announced its plans to overhaul the planning system, categorising land for growth, renewal or protection. The aim is to protect green spaces and speed up the delivery of new homes on brownfield sites. Good design is to be prioritised with a fast-track for 'beautiful buildings'. Section 106 agreements and the Community Infrastructure Levy will be replaced with a levy based on the value of the development. The government also announced the First Homes scheme offering 30% discount to first-time buyers, key workers and local people. Update 6 August 2020: Comment by CBRE.
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29 July 2020
Hackney Council have approved the demolition of an existing building and construction of a 6/7 storey building comprising of flexible working space and co-living accommodation at 305a Kingsland Road E8. The developers are Pause and the scheme was designed by PH+ Architects.
MORE27 July 2020
Southwark Council planning committee has approved an application to redevelop Dulwich Hamlet Football Stadium creating a new stadium and 219 residential dwellings. The application was submitted by Dulwich Hamlet Football Club and Meadow Residential and the scheme was designed by Alan Camp Architects.
MORE21 July 2020
The UK government has announced changes to the Use Class Order that will come into effect from 1 September 2020. A new Class E (Commercial Business and Services), will replace the existing Classes A1, A2, A3, B1, D1 & D2, with some exclusions. There will also be new Classes F1 (Learning and Non-residential Institutions) and F2 (Local Community). The government's aim is to allow the high street to adapt to changing demands.
MORE8 July 2020
In a 'Plan for Jobs' speech the Chancellor Rishi Sunak announced that the threshold for stamp duty was being raised from £125,000 to £500,000 resulting in no stamp duty being paid for transactions below that level. This is a temporary cut effective immediately and running to 31st March 2021. Update 7 August 2020: Savills predict increased demand where finance is not a barrier.
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2 July 2020
Architects Roger Stirk Harbour + Partners have submitted plans, on behalf of Transport for London and Native Land, to overhaul South Kensington Station. The proposals, extending to 12,000m2, include a four storey building incorporating retail and workspace, with the surrounding land providing 50 additional homes.
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3 June 2020
The City of London Corporation has submitted a planning application to develop a 42 acre site at Dagenham Dock, the former site of Barking Reach power station. If successful, London's historic food markets, Smithfield, Billingsgate and New Spitalfields will move to the site in 2025, creating a world class wholesale food location.
MORE21 May 2020
HMRC estimates that UK residential property transactions in April 2020 were down by 53.4% over April last year, and 46.1% lower than March 2020. Non residential transactions were 45.2% lower than April 2019 and 22% lower than March 2019. Such low transaction levels were last evident during the 2008 global financial crisis.
MORE13 May 2020
The government has announced that from 13th May 2020 house moves can how go ahead, subject to restrictions. Estate agents' offices and show homes can open and viewings can go ahead as long as guidelines are followed. To support safe housebuilding the government has allowed more flexible working hours. A charter for safe working practices has also been published, in conjunction with the House Builders Federation to ensure that works are carried out safely during the coronavirus epidemic.
MORE21 April 2019
A record 60 tall buildings were built in London in 2019, that is up 140% on the 2018 figure, according to the Annual Tall Buildings Survey published by New London Architecture and Knight Frank. 88% of the completed buildings are residential. Furthermore there are 525 buildings in pre-planning, planning and construction.
MORE16 April 2020
In response to COVID-19 Barratt Developments, Britain's largest house builder, temporary closes all sales centres and construction sites and suspends all house buying activity. Furthermore 85% of their staff are to be furloughed on full pay. Activities are to recommence when it is appropriate to do so.
MORE24 March 2020
The UK government has announced the Coronavirus Business Interruption Loan Scheme, offering businesses loans of up to £5m to help survive the disruption caused as a result of the COVID-19 outbreak. The scheme is operated by the British Business Bank via accredited lenders.
MORE19 March 2020
The Bank of England's Monetary Policy Committee cut interest rates to a record low of 0.1% at a special meeting on the 19th of March. The aim of the cut is to help UK businesses and households cope with the economic disruption expected as a result of the measures necessary to contain the spread of the Covid-19 virus.
MORE10 March 2020
The Bank of England reduced the Bank Rate from 0.75% to 0.25% and launched a Term Funding Scheme to assist households and businesses to cope with the disruption associated with Covid-19.
MORE12 March 2020
The UK government is to streamline the planning process to speed up the decision making process. Housing Secretary Robert Jenrick MP announced proposals to encourage building upwards, above stations and the housing-led redevelopment of high streets. The government will also launch a register or brownfield sites to encourage development.
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11 March 2020
Buck Street Market in Camden, designed by architects Eric Reynolds, is made from 88 recycled shipping containers and will house 80 retail outlets over 26,000 sq ft. The food and retail brands will all be committed to sustainable practices and processes.
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20 December 2019
Westminster Council have approved plans to redevelop the Grade II listed Whiteleys Shopping Centre in Queensway. The scheme will provide 153 apartments and town houses, a hotel and 75,000 sq ft of retail, while restoring the listed facade, central courtyard and dome. The architects for the scheme are Foster and Partners. Whiteleys Development
MORE9 April 2019
Despite a softening of the retail market in London, Bond Street together with Marylebone High Street and Spitalfields remain robust. Zone A rents at Bond Street are currently £2,500 per sq ft. The number of international stores debuting in London, including smaller emerging retailers, increased substantially in 2018. Savills
13 MARCH 2019
Aviva Investors and Galliard Homes have secured planning for a £600m scheme at the Old Kent Road. The site will include 8 new blocks including a 48 storey residential tower designed by Brisac Gonzalez, which will be the fourth tallest in London. Aviva Investors. Galliard Homes
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4 March 2019
New Architecture London and G L Hearn's Annual Tall Building Survey shows that the number of tall buildings under delivery is the highest in history. In 2019, 76 buildings over 20 storeys will be completed, which is three times the number completed in 2018. The report shows that there are 541 towers in the pipeline, 90% of which are for mainly for residential use. NLA
MORE27 February 2019
The Mayor of London has supported rooftop developer Apex Airspace by providing a loan of £10m to create new homes above existing buildings. The firm will use the latest technology, using offsite construction methods, to minimise disturbance to neighbouring properties. Apex Airspace
6 February 2019
Knight Franks' London Report finds that London retains the top position in the world for investment in commercial real estate, attracting £16.2bn in 2018. The next wave of technology firms are expected to create substantial demand in the future. Knight Frank
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30 January 2019
Hammersmith and Fulham Council have approved planning for an update to the Olympia Exhibition centre. The project includes two new art venues, a four screen arthouse cinema, 10,000 sq ft of performance and rehersal space, 2.5 acres of pedestrianised public space and new cafes, hotels, restaurants and shops. Olympia London
MOREOctober 2018
The Housing Futures survey carried out by Strutt & Parker identify 8 ideas that will shape the future of home ownership. The ideas include using blockchain to record transactions, driverless cars affecting the importance of public transport, peer to peer lending and crowdfunding to fund development and investment, on-site energy sources, and AI and machine learning to create intelligent homes. Strutt & Parker
MORE27 June 2018
London's only Enterprise Zone, the Royal Docks in East London, has been given the green light for a £314 million regeneration. Detailed plans for the 112 hectare Royal Docks Enterprise Zone were signed off by the London Economic Area Partnership. The planned investment will be carried out over the next 5 years. Mayor of London
Stamp Duty Cut Saves First Time Buyers in London £4,300
27 April 2018
The government scrapped stamp duty for first time buyers for homes valued up to £300,000 and reduced the amount payable for houses valued between £300,000 and £500,000. As a result the average first time buyer in London saved £4,300. HMRC
8 April 2018
Using data from Rightmove and Zoopla, LABC Warranty have analysed data of 10,000 homes from the 1930s to the present. The results show that average size of homes peaked in 1970 at 58m2 and are now 46m2. There is a more substantial drop in the size of living rooms, which were on average almost 25m2 in 1970 and are now on average 17m2. LABC Warranty
19 March 2018
The first phase of the 740,000 expansion of Westfield London is scheduled to open on 20 March 2018 with John Lewis opening its doors to their 230,000 sq ft store. The expansion forms part of the £8 billion regeneration of the White City Opportunity Area. Westfield London
MORE5 March 2018
The government has announced a major overhaul of the National Planning Policy Framework to encourage the construction of new homes. The overhaul aims to ensure that the right homes are built with increased responsibility for both local authorities and developers to ensure that homes are built. The housing secretary Sajid Javid is promoting the construction of homes above railways, based on claims that up to 250,000 homes could be built in this way in London alone. Gov.uk
The Mayor of London is making available a number of small publicly owned sites in London for small developers, housing associations and communities.
Land currently available for sale in London include: Albany Road, Edmonton N18 2DY; Aylesbury Street, Neasdon NW10 0AP; Beechwood Avenue, Finchley N3 3AU; Brent Mead Place, Brent Cross NW11 9LJ; Bridge View, Hammersmith W6 9DD; Cable Street, Shadwell E1 0DR; Christchurch Road Streatham Hill SW2 4AP; High Street, Colliers Wood SW19 2BN; Long Lane, Finchley N2 8JP; Portree Street, Poplar E14 0HT. The deadline for proposals is 23 March 2018. Mayor of London
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13 February 2018
The Mayor of London has approved architects Metropolitan Workshop's 21 storey building in Croydon which is to be constructed 'off-site' in factories and then placed on site. The developer Pocket Living has agreed to make all of the 153 homes affordable. Mayor of London
Crossrail Regeneration to Create 180,000 New Homes by 2026
30 January 2018
Research by the property consultancy GVA shows that 180,000 news homes will be created along the crossrail route by 2026, together with 4.4 million square feet of new commercial space by 2021. The research shows that the impact of the Elizabeth Line will be significantly greater than initially predicted. Crossrail
UK Housing Stock is Valued at £7.14 Trillion an Increase of 34% over Ten Years
19 January 2018
The total value of housing stock in the UK has risen by £1.82 trillion over the last 10 years, to £7.14 trillion. London accounts for a quarter of the total value, at £1.785 trillion, but only 12% of the homes. London and the South East account for 87% of the total housing value gain over the last 10 years, however house price growth last year was highest in Edinburgh, Birmingham and Barnet. Savills
28 December 2017
The image above shows City of London's skyline in 2026 following the construction of 13 new consented schemes. The buildings are to have off site consolidation for deliveries and six of the buildings are to have free public viewing galleries. As of September 2017 there were 1.37 million square meters of office space in construction which is up from 1.22m in March 2016. Photo GMJ/City of London Corporation. City of London
October 2017
The final part of the track that forms the Elizabeth line has been completed at Whitechapel Station. This coincides with the completion of Abbeywood Station, one of the 10 new stations that form part of the Elizabeth Line. The £14.8 billion project enters its next phase with a continuous track from Plumstead in east London to Royal Oak in the west. Photo © Crossrail Ltd. Crossrail
The London Mayor aims to increase the supply of affordable homes by offering a fast track planning permission for developments that offer a minimum of 35% affordable homes. Developments on public land need to provide 50% affordable homes to quality for the fast tract service. Mayor of London
Highest Number of New Homes Built Since the 1930s but London needs more Affordable Homes
4 April 2017
According to a report by Savills the there are record number of houses being built in London since the 1930s with indicators suggesting 41,000 in 2016, but these do not meet the demand for homes costing less than £450 per sq ft. Savills estimate that 58% of the demand is for such homes, but only 15% of homes to be built in the next five years are forecast to be at this level. Savills