The Homes and Communities Agency (HCA) has revealed the first sites to be released through the land disposal programme as announced in the Budget.
HCA will use its experience and property assets to bring forward sites for development at an accelerated rate, which will allow more homes to be delivered on its land.
The Agency explained that a range of disposal and development models would be used under the new programme, including “deferred payments.” Here, developers will pay for the homes whilst the homes are under construction rather than paying the entire amount upfront.
Faster procurement methods will also be deployed – the HCA intends to use its Delivery Partner Panel to “allow for a more efficient process for accessing HCA land.”
Pat Ritchie, chief executive of the Homes and Communities Agency, said: “We are leading the way by making more land available for development through a range of options that will help developers get on site more quickly and help communities access the homes, amenities and public space needed in their local area.”
The sites announced are:
Hemel Hempstead; Prewett, Basingstoke; Blackwall Reach, Tower Hamlets; Ransome Road, Northampton; Cotgrave, Rushcliffe, Nottinghamshire; Croppings, Lightmoor, Telford and Cronton, Knowsley, and Haig former coalfields and Greenwich Ecology Park.
Sourced from: House Builder