The timely release for surplus public sector land for residential development is seen as a practical means by which Government can begin to stimulate economic activity and support the delivery of new homes. Defra has published its land disposal strategy in support of housing development to convey the contribution the Department expects to make to housing provision over the spending review period.
The strategy includes the forecast land supply from both the Department and all its property holding non-departmental bodies and public corporations. It sets out the anticipated housing numbers identified from know surplus land and Defra will review and update this forecast at least once per year to reflect changes in the forecast land supply and housing numbers. Through the publication of this strategy it is hoped that the market will be better prepared when the land is released for disposal.
Terms of disposal will reflect the development economics of the specific site and the risks associated with its development. The Department will seek to use Build Now, Pay Later and other payment terms to unlock development and get building works underway. The Department will seek bids on a number of payment terms, including Build Now, Pay Later, and appraise which options represent the best value for money for the taxpayer.