Development Insights Summer 2024

Page 1


Development Insights

Edition 2 • Summer 2024 Development

Our national Property Development capability is underpinned by the fact that it comprises an integrated team of regional specialists, located strategically across our nationwide network of offices. Our focus is always on ensuring clients optimise the asset value of their investments and realise their financial and strategic goals. We provide our clients with a comprehensive and holistic service designed to support them throughout the lifecycle of the development - from

Scan the QR code to find out more

Preserving Green Belt Land: Balancing Necessity and Innovation

The Green Belt, a government policy designed to safeguard designated green fields across the country, has played a crucial role in curbing urban sprawl, protecting natural habitats, and preserving biodiversity. Despite its positive impact, it is not without its drawbacks. In the face of today’s housing crisis, the Green Belt restriction appears increasingly outdated, potentially hindering future generations of homeowners.

The Numbers and the Challenge

18% or 628,512 acres (254,350 hectares) of the total land in the North West (20212022 figures) is Green Belt, but as the map demonstrates it is highly concentrated around the urban areas. The challenge it presents is that these urban areas, are where the demand for new housing is highest and struggling to meet the needs of their growing populations.

To Build or Not to Build?

The UK is grappling with a severe housing shortage. New home completions fall far short of requirements, property values outpace wages, and affordable housing remains scarce. Urgent action is necessary to address these pressing issues.

While the Green Belt contains ecologically low-quality areas, their loss may not significantly impact local habitats or public access to natural spaces. Many existing green fields are privately owned and lack public rights of access. Releasing land for development could alleviate housing shortages and provide accessible public open spaces. All developments require integrated open spaces as well as increasing biodiversity by at least 10% through Biodiversity Net Gain.

Preserving Our Green Fields

Conserving green fields is undeniably beneficial. As a nation, we face one of Europe’s most depleted natural biodiversity landscapes, and Green Belt designations play a vital role in curbing excessive development. Urban sprawl threatens our natural habitat, and protective measures are essential to prevent the loss of green spaces, their natural resources, flood safeguarding and the diverse wildlife they harbour.

A New Approach?

Can we strike a balance between habitat protection and development? Perhaps. The Labour Party’s proposal to assess areas of “Green Belt land which makes a limited contribution to the Green Belt’s purposes” and rebrand them as ‘Grey Belt’ seems promising. A rigorous evaluation of each plot based on its merits and potential benefits could guide future decisions. While some land must remain undeveloped, a nuanced approach could create thriving communities and garden villages, offering purposeful living spaces for future generations.

Map source: https://www.gov.uk/government/statistics/localauthority-green-belt-statistics-for-england-2022-to-2023/localauthority-green-belt-england-2022-23-statistical-release Licences: Open Government Licence (https://www. nationalarchives.gov.uk/doc/open-government-licence/ version/1/open-government-licence.htm), Open Copyright Licence

Fisher German’s North West Team: Navigating the Property Market

While Fisher German is no stranger to the North West property market, it’s currently expanding its presence there. Traditionally a powerhouse in the Midlands, Fisher German has recently invested in both the North and South, broadening its reach.

Meet the North West Development Land Team

The North West Development Land team comprises two key members: Alex Isles and Mikki Burton. Alex, with over a decade of experience in the development industry across the North West, leads the team. As the dedicated point of contact for residential land development at Fisher German in the North West, Alex provides expert guidance. Working alongside Alex is Mikki Burton, who has been with Fisher German for over two years. Mikki specialises in strategic agreements, focusing on promotion and option opportunities, with recent successes in the Chester area.

Strategies Tailored to Each Site

Alex and Mikki collaborate closely with Fisher German’s robust client base, advising on how to maximise their sites. Drawing on their in-depth knowledge of real estate development and the residential market, they tailor strategies to each unique site, considering market conditions and individual client circumstances.

Strategic land

• Do you own land in a sustainable location on the edge of a settlement?

• Do you own land close to a city or large town and close to a major road network?

• Is your land included within a current or emerging local plan?

• Has your land been assessed previously for its strategic development potential?

• Do you believe your land has some strategic potential for residential or commercial development?

Navigating the Competitive Market covering the North West and North Wales

Operating from Fisher German’s four North West offices in Manchester, Liverpool, Knutsford, and Chester, the team covers the entire North West extending into North Wales. They actively seek new sites and welcome conversations with landowners and developers. The North West land market remains fiercely competitive, with strong demand for sites— whether with or without planning. In recent years, chronic undersupply has led to market contraction in both land purchases and home sales and prices. Challenges related to the planning system and increased timescales have contributed to a slowdown in activity.

Despite these challenges, developers and promoters continue to express interest in purchasing land. With potential planning changes on the horizon, now is an opportune time for those holding land with development potential. If you have questions about the North West market or wish to explore opportunities, don’t hesitate to reach out to Alex and Mikki.

If the answer is yes to any of the above, you may be sat on a future asset which has some significant strategic value and expert advice would be required to guide you through the process to achieve its full value. Fisher German would be happy to undertake a free of charge desk top review of your land to assess its current potential for development.

Given the large shortfall in new residential dwellings year on year, and our new Government’s commitment to increase the delivery of new homes, strategic land is a commodity in demand by developers and land promoters alike.

The Government has reversed the changes made by the Conservative Party and reinstated and increased mandatory housing targets for local authorities, the target delivery per annum is now 370,000 new dwellings. A clear and concise plan is therefore required to promote land through a local plan (or speculatively) and of course this will be beneficial to its chances of success in achieving a planning permission in the future.

Welcome to the development team

With Fisher German’s recent growth, it seemed like a really great time to be joining the firm. Fisher German has always had an excellent reputation in the sector, and I felt I could play a key role in the firm’s success and grow my career.”

It’s great to be joining the firm at a time where the team is really focused on growth. My role will mostly be looking to help grow Fisher German’s influence in the south of the region where we expect a lot of potential opportunities.”

Don’t hesitate to contact a member of the Development team for your free assessment:

Sophie Greco South East

Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.