Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

£2bn funding to speed up land development launched

  • Comment

The government has launched two new investment streams totalling almost £2bn to help developers and local authorities acquire and develop land for new homes.

The Land Assembly Fund and the Small Sites Fund, worth £1.3bn and £630m respectively, were both announced in the autumn Budget. According to the Budget report, the two funds will be financed via the Northern Powerhouse Investment Fund which itself had its budget boosted from £23bn to £31bn last year.

Housing and communities secretary James Brokenshire said: “We need to act on a number of fronts to build the homes this country needs.

“The availability of this investment will help us intervene in the sort of sites that aren’t yet ready to build on, or where developers have been put off.

“Developers can now get straight on with building homes, rather than overcoming the barriers to build. And in the same way we are also supporting councils that have land for housing, but need additional help to enable development.”

A government spokesperson said in a statement that the Land Assembly Fund would make investment “less risky for developers” when acquiring land for development.

The Small Sites Fund will reportedly provide grant funding to expedite infrastructure delivery on “stalled small sites to provide the homes their communities need”.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.