BBC News recent news article could be a real boost for SMEs working in affordable housing and development.
The Labour Party’s intention to release “grey belt” land for development presents new opportunities for business expansion, property development, and investment. SMEs are well placed to provide the services needed for this new policy.
What does the research say?
The BBC article refers to research carried out by Knight Frank which had 3 key findings:
- There are over 11,000 previously developed sites within England’s green belt that could be suitable for development
- The unique suitability of the grey belt for family homes addresses a great need, suggesting a more objective approach to green belt development is essential for boosting housing delivery
- The potential for developing these previously used sites could yield between 100,000-200,000 new family homes, depending on the density of the developments
A game changer for SMEs?
There could be some real benefits to SMEs who often struggle to compete with larger corporations for prime development land.
- Increased Access to Land: The grey belt initiative could level the playing field by opening up more sites for development, particularly smaller plots that are ideal for SME projects.
- Support for Local Economies: By focusing on local, often overlooked areas, SMEs can contribute to the revitalization of communities, fostering community engagement and investment.
- Innovation and Sustainability: The emphasis on responsible development will encourage SMEs to adopt innovative and sustainable practices. This could lead to advancements in green construction, renewable energy, and eco-friendly materials.
Conclusion
This policy could act as a catalyst for growth and innovation among SMEs. By transforming underutilized land into thriving business hubs, we can expect a ripple effect of benefits, from economic growth to community development and environmental conservation. There is a need to fully understand the land values and definition of grey land, but if this can be made to work it will be very positive.
