A new report has found that the approved estate regeneration projects proposed for London could boost the number of new homes built by 151 per cent.
The report by planning consultancy Lichfields shows that the regeneration work planned at 200 estates across London would lead to greater housing density in the capital – particularly in inner London.
Only 48 per cent of the new homes would be deemed affordable. However, the study doesn’t specify the tenure of these homes. Instead, it only indicates that it includes homes built to replace existing affordable homes demolished under the regeneration plans.
Under the rules set by the Greater London Authority (GLA), developments on these estates must, as a minimum, deliver the same level of existing affordable housing at the same tenure.
The report states: “Many of London’s estates are low rise, poorly laid out and represent an inefficient use of accessible urban land.
“As a general rule, a two to three-fold increase in homes is required for a project to be viable and deliverable, while yielding sufficient new affordable homes.”
Many regeneration projects are planned for the following areas in London:
- Tower Hamlets (23 projects)
- Islington (17 projects)
- Lambeth (16 projects)
- Hackney (15 projects)
- Southwark (13 projects)
Outer London boroughs, such as Barnet, Brent and Ealing, also have some estate regeneration programmes but many other boroughs have little or no plans at all.
The rules around affordability and the demolition of existing social housing stock have led to controversy in the capital, with a growing fear that new developments force out working-class communities.
Despite this, many experts claim that regeneration and higher housing density is the only means to free up land for the building of additional homes in London.
To give communities a greater say, it is a requirement that regeneration schemes with more than 150 homes funded by the GLA are subject to a ballot of residents before proceeding. The report found that opinions of regeneration in most communities were largely positive.
Adam Davis, a Director with Palmers Solicitors, who specialises in construction law, said: “This report is welcome news for the construction industry and will hopefully lead to continued growth and opportunities for local construction and engineering sub-contractors in our region.
“Our experience in working with the construction and engineering sector means we are ideally placed to provide independent, practical advice to help firms with their contracts, as well as tender submissions.”
For help and support on contract submissions and project delivery compliance, please contact Palmers specialist construction team.