Peabody in the news

Peabody is supporting a new report by Centre for London on making the most of London’s big development sites.

The Centre for London is using Thamesmead as a case study for effective partnership working, and making a series of recommendations to significantly scale up the delivery of new homes in the capital.

The report highlights the fact that there is capacity for at least 300,000 new homes within the 38 GLA designated opportunity areas in London. It also shows how development within these large brownfield sites has been held back by commercial development models. These are often focused on short-term and gradual delivery rather than long-term investment and delivery at scale.

London’s opportunity

It makes suggestions for how new models of partnership and financing could help transform the long-term potential of London’s Opportunity Areas into actual delivery. It identifies the most effective types of delivery structure and outlines new ways and approaches to meet the challenges of developing these areas.

Read about the Going Large - Making the most of London's big sites report (pdf, 461kb)

Key recommendations

Local authorities and other public landowners should:

  • Develop a clear vision for priority brownfield sites, while actively exploring joint-venture arrangements for developing underused land.
  • Base planning on masterplans that set out the character and spatial structure of new places and how these will integrate into surrounding neighbourhoods.
  • Take a long-term approach to achieving best value from the development of assets, retaining a stake in order to secure investment from and reduce risk for other partners.

The new mayor should:

  • Intensify partnership working with local authorities and developers to bring forward London’s large sites, by supporting the establishment of joint ventures for priority sites and using the mayoral development corporation model to intervene where progress is stalled.     

London’s Opportunity Areas and local authority boundaries

Government should:

  • Support local authorities in taking a longer-term approach to securing best value, allow borrowing against future tax revenues, and exempt local authorities’ purchase of land for development from stamp duty land tax. 

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