Prospects look upbeat for brownfield redevelopment in the United Kingdom based on Prime Minister David Cameron’s recent campaign promises. With a somewhat surprise majority government now secured, the pre-election agenda set out in the Conservative Party’s manifesto should spur interest for businesses related to real estate development, environmental services and energy management.
Funding for the proposed ₤1-billion (CDN $1.89 billion) brownfield regeneration fund is expected to come from the Right to Buy program, which offers tenants of publicly owned council housing an opportunity to purchase their homes — a policy former Prime Minister Margaret Thatcher first introduced in the 1980s.
Cameron’s government envisions 95,000 new homes on brownfield lands. To accomplish this, local authorities (municipal governments) will be required to register all brownfield land within their jurisdictions and ensure that planning permission is in place by 2020 to redevelop at least 90 per cent of the sites deemed suitable for new housing. A London Land Commission will also be established with the mandate to identify surplus publicly owned brownfield lands that can be released for redevelopment.
Other notable promises in the manifesto include plans to install smart meters in every U.K. home and business by 2020, a prohibition on new onshore wind-generated power production, and continued commitment to greenhouse gas reduction targets.
Meanwhile, MP Amber Rudd, has been appointed the new Secretary of State for Energy and Climate Change to replace Ed Davey, who was defeated in the May 7 election. She previously served as Under Secretary for the portfolio.
“Her appointment is important as it not only represents a much needed continuity between the previous and new regimes on environmental issues, but, hopefully, indicates the direction of travel of this Conservative government on the economy and climate change,” said Julie Hirigoyen, Chief Executive of the U.K. Green Building Council. “We look forward to continuing our close collaboration with her.”
