Property owners and developers are being urged by the new homes division of estate agency Connells to seek professional advice in the wake of numerous changes in planning over the last year. According to Connells’ Senior Land Director Martin Payne, initiatives like the Localism Act, the new homes bonus, the National Planning Policy Framework, the relaxation of section 106 planning contributions and social housing provisions need to be fully understood in order to fully take advantage of the development opportunities they present.
Navigating Regulatory Shifts
“The provision of housing continues to be a significant political challenge in the UK prompting a number of schemes and legislation by the coalition government,” said Payne. He added: “While we at Connells welcome anything designed to help developers and increase the number of new homes being built, we also recognise that so many changes can create challenges so are urging land owners and housebuilders to engage professional advice and ensure they are making the most of their developments options.”
Past Opportunities Revisited
Payne is also advising developers to revisit previous development opportunities in light of policy changes to see if they are now viable. “The Government’s localism agenda, and subsequent initiatives which have resulted from it, has certainly opened up development opportunities that were previously closed,” he added. “I hope to speak to as many developers as possible over the coming months and see if previous development opportunities can be revisited.”
Article courtesy of Property Investor Today“”
