Back
News

Upward extension PDR is a watershed moment for the industry

COMMENT It’s not very often I say this, but the new permitted development rights for upwards extensions is a defining moment for the housebuilding industry. It is another step closer to making airspace development an asset class in its own right.  

The new rules, coming into effect in August, reduce the pressure to build on greenfield land by utilising the unused airspace on rooftops to develop new homes or other living spaces. Our research has shown this has the opportunity to deliver 180,000 homes in London alone.

The entire process of airspace development is one that seeks to make improvements to the existing building’s public realm without existing residents needing to vacate – one of the conditions of the PDR. Especially in very old buildings, repairs and refurbishments to roofs and other external structures can be a costly drain on resources, so by tapping into their airspace, local authorities and housing associations have a huge opportunity to create more genuinely affordable housing and improve a neighbourhood simultaneously.

Start your free trial today

Your trusted daily source of commercial real estate news and analysis. Register now for unlimited digital access throughout April.

Including:

  • Breaking news, interviews and market updates
  • Expert legal commentary, market trends and case law
  • In-depth reports and expert analysis

Up next…