Labour has confirmed plans for 12 new towns across the country. Where will these sites be, and should landlords look to invest there?
The government has confirmed plans for a ‘next generation’ of 12 new towns across England. Whilst it’s “determined” to begin building at least 3 during this parliament, it cannot guarantee more in the short term.
As part of the plans, a New Towns Unit will be established to help progress the developments and “unblock barriers to delivery”.
What we know so far
The task force has proposed a mix of standalone greenfield sites and large-scale communities to include urban extensions and regeneration.
Each town should have at least 10,000 homes, with the aim of a minimum of 40% affordable housing, half of which will be used for social rental homes.
The government is expected to publish the draft proposals for consultation early next year.
The possible locations
So far, the possible locations with the new towns include:
- A new standalone town in Adlington, Cheshire East, to account for the growing industries in Manchester and Cheshire
- A connected development in South Gloucestershire, one of the highest productivity areas in the country, with an advanced engineering and technology economy
- An expanded development to bring together Chase Park and Crews Hill in Enfield to help address London’s need for more housing
- Redevelopment of the former airbase at Heyford Park in Cherwell, which will build on the existing progress in the area
- Urban development in Leeds to help boost the city’s existing economic prospects
- Inner city development in Manchester, Victoria North, to support the growth in the area and attract high-skilled workers to the city
- A standalone settlement in Marlcombe, East Devon, to offer more links to Exeter and East Devon
- A ‘renewed town’ in Milton Keynes to refresh the city centre
- A development in Plymouth, Britain’s ‘Ocean City’, which will capitalise on the government's £4.4 billion investment in the large naval base
- A new settlement in Tempsford, Central Bedfordshire, located near the heart of the Oxford-Cambridge Growth Corridor
- A riverside settlement in Thamesmead, Greenwich, to unlock inaccessible land in the city
- Expanding the development at Worcestershire Parkway, Wychavon, to help meet the regional housing demand
The government says the sites at Tempsford, Crews Hill, and Leeds look the most promising.
Should landlords invest in these areas?
For landlords looking to expand their portfolios, it’s a good idea to keep an eye on the development in these areas. For the new towns located near city centres, HMOs and MUFBs will be great opportunities to attract high demand from workers near these areas.
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