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Land Securities Group PLC and British Land Co PLC on Thursday called for changes to the UK planning system to support regeneration of brownfield land. The two commercial property developers said such a ‘planning re-set’ would result in more economic growth, jobs and homes in the UK. They argued that the changes would require neither new legislation nor significant public funding. Brownfield sites are disused land, often formerly used for factories and docks. The proposals by Landsec and British Land are aimed at reducing the ‘layers of complexity’ in the UK planning system and reducing the burden on overstretched planning authorities, they said. Brownfield urban regeneration sites should be defined as a separate planning category, with a focus on ‘quick wins’ to drive economic growth in the UK. They argued for more resourcing for the planning system and ‘proportionate decision-making’, with planning decisions ‘taken at the level their impacts are felt’. They also proposed tax incentives to encourage investment in infrastructure and remediation of brownfield land, which is often polluted. ‘Urban, brownfield regeneration has the potential to unlock growth and prosperity for cities across the UK,’ explained Landsec Chief Executive Officer Mark Allan. ‘However, the current planning system acts as a significant brake to this growth.’ British Land CEO Simon Carter added: ‘There is political consensus in the need to prioritise urban regeneration over greenfield development.’ Landsec shares were up 0.1% to 604.70 pence early Thursday in London. British Land was up 0.4% at 324.90p. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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