Shapps names first six sites for build now, pay later housing scheme
The government has revealed the first six sites to be made available to developers under its Build Now, Pay Later scheme.
The sites being offered by the Homes and Communities Agency are:
- Spencer’s Park, Hemel Hempsted
- Park Prewett, Basingstoke
- Blackwall Reach, Tower Hamlets
- Ransome Road, Northampton
- Cotgrave, Rushcliffe, Nottinghamshire
- Croppings, Lightmoor, Telford
Housing Minister Grant Shapps claimed that the sites could see 3,000 new homes being built and support for up to 18,000 jobs in construction and related industries. Under the scheme, the developers will only pay for the land once the homes have been built.
The Department for Communities and Local Government claimed that up to 40% of land suitable for housing development – “as much as 7,500 hectares” – was "sitting idle" in public sector land banks.
Shapps said: "These will be the first of many sites as all government departments will now be asked to make land available for housebuilding and, crucially, will be held accountable for the homes built and jobs supported through this. And many of these sites will be available under Build Now, Pay Later, giving builders access to land they only pay for once the homes are built and giving a boost to the level of housebuilding in this country."
Home Builders Federation executive chairman Stewart Baseley described moves to release surplus land for development as a positive step. “We need to see the process quickly accelerated,” he added.
