Next London mayor urged to focus on promoting development
The London Property Alliance has called on the next mayor of London to facilitate a “new flexible approach” to planning in central London to unlock 40.7m sq ft of workspace.
The LPA, which represents real estate developers and investors in the capital, cited figures from Arup showing that a planning approach that balances heritage and sustainability with economic factors could also deliver 4.7m sq ft of new retail and 6.5m sq ft of hotel space by 2045. That could support 407,200 new jobs, according to the LPA.
Ahead of the election on 2 May, the next mayor is also urged to secure a long-term funding package for TfL to ensure the system can cope with increased passenger numbers and support the return of more office workers and visitors.
The London Property Alliance has called on the next mayor of London to facilitate a “new flexible approach” to planning in central London to unlock 40.7m sq ft of workspace.
The LPA, which represents real estate developers and investors in the capital, cited figures from Arup showing that a planning approach that balances heritage and sustainability with economic factors could also deliver 4.7m sq ft of new retail and 6.5m sq ft of hotel space by 2045. That could support 407,200 new jobs, according to the LPA.
Ahead of the election on 2 May, the next mayor is also urged to secure a long-term funding package for TfL to ensure the system can cope with increased passenger numbers and support the return of more office workers and visitors.
Fiscal devolution for London is also on the membership body’s wish list, to create stronger incentives for economic growth and help provide resources for further infrastructure investment.
The LPA also warned of a “labs planning bottleneck”, with 2.6m sq ft of lab space awaiting a planning decision. It said the next mayor should build on the success of London’s life science districts in the Knowledge Quarter (King’s Cross/Euston), White City, Whitechapel, Sutton (Southwark/Lambeth) and the Docklands (Canary Wharf and Canada Water) to establish the capital as a leading global centre for research and innovation.
Charles Begley, chief executive at the London Property Alliance, said: “This mayoral election comes at a critical moment as we need to jumpstart the economy and ensure London retains its position as a leading global city amid fierce competition to attract world-class businesses and talent.
“There is a huge opportunity to unleash growth in central London by adopting a more flexible and balanced approach to planning. This would accelerate the delivery of the modern, sustainable office and research space demanded by leading businesses and their employees – as well as unlocking billions of pounds in developer contributions to help address the generational challenges we face around affordable housing and sustainability.
“More broadly, we must look properly at how we fund infrastructure after the government’s decision to shelve the HS2 terminal at Euston and deprioritise other major projects. The capital should be leading the way in establishing a new model for devolution that can be replicated across the country, and if we are serious about attracting more visitors and workers back to central London we need to secure a sustainable funding package for TfL instead of relying on short-term sticking plasters.”
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