William Eichler 12 September 2017

Compact living flats could inject over £200m into London, report finds

Compact living flats could inject over £200m into London, report finds image

Public bodies with unused land should support the private sector in developing compact living accommodation in central London, regeneration specialists say.

According to a new report, compact living developments could bring an additional £200m of income and just over 1,000 new jobs to central London.

Compact living flats would be housed in buildings with a range of communal and co-working facilities and would be for rent only. They could be built in Zone 1 and would still be affordable for those paying the London Living Rent.

The Development Economics report, commissioned by regeneration specialist U+I, compared the social and economic impacts of the compact living approach when compared with more typical central London developments.

Based on an assumption of locating five town flat development sites in each of the nine inner London boroughs, the study found compact living developments would deliver an additional £202.5m of household expenditure a year.

They would also house 3,555 more working age adults than typical accommodation on the same sites, while providing 4,770 more homes. These developments would also support 1,035 more local jobs.

‘For too long and for too many people London has been hollowing itself out - diluting the rich blend which has made it the global capital,’ said U+I deputy chief executive, Richard Upton.

‘The centre is now only affordable to either the very wealthy, only occasionally present, or those living in what social housing remains. For a new generation of workers in the middle, often working centrally, living in the middle of London has long been a dream.

‘People increasingly want to live, work and play in the same place and we want to develop something that not only re-fills hollow London, but also brings communities back to life and delivers real social and economic benefits.

‘Ideally we would like to develop these sites in association with public sector bodies who have unused land. This could bring additional social benefit to the public sector by generating much needed revenue from the rental income, while retaining ownership of their assets.’

Redefining what good looks like image

Redefining what good looks like

Impower’s annual top 10 list is a celebration of strong council performance, and as Jon Ainger explains, many local authorities have stepped up to the challenge.
SIGN UP
For your free daily news bulletin
Highways jobs

Education, Health and Care (EHC) Co-ordinators

Buckinghamshire Council
£30,874 - £37,188 per annum
Interested in a career as an EHC Coordinator? Come along to our drop-in event to meet members of the SEND team and find out more about the role! England, Buckinghamshire, Aylesbury
Recuriter: Buckinghamshire Council

Social Worker - Leaving and After Care

Essex County Council
£27775 - £41425 per annum + Plus Excellent Benefits Package
Knowledge, Skills and Experience * Diploma or Degree in Social Work, CQSW, CSS or equivalent * Registration with the Health & Care Professions Council (HCPC) as Registered Social Worker * Demonstrable capability of practice in accordance with curre England, Essex, Chelmsford
Recuriter: Essex County Council

Built Heritage Consultant

Essex County Council
Negotiable
Job Purpose
Recuriter: Essex County Council

Principal Social Worker

Telford & Wrekin Council
£44,632 - £47,534 per annum
We have an established management team, committed to developing excellent practice and ensuring that our staff receive the best support we can offer. Telford, Shropshire
Recuriter: Telford & Wrekin Council

ASC Occupational Therapist - Physical & Sensory Impairment Team

Essex County Council
£30300 - £41425 per annum
Essex County Council (ECC) is one of the largest and most dynamic local authorities in the UK, serving a population of 2 million residents, and has a England, Essex, Harlow
Recuriter: Essex County Council

Local Government News

Latest issue - Local Goverrnemnt News

This issue of Local Government News explores how councils can tackle modern slavery and trafficking in their supply chains, finds out more about Cambridge's first cohousing scheme and the launch of a new project to build a shared service pattern library for local government.

This issue also contains a special focus on children's services and how councils are protecting children following local safeguarding children boards being abolished.

Register for your free magazine