Today, on Richard Carr’s Commercial and Residential blog, he looks at the initiative launched by City Hall and Transport for London last month that will see Londoners become shareholders in a raft of major property developments.
Taxpayers to own 50 sites
This is another example of the UK using its initiative to help get the country building again, whilst also easing the demand for housing.
TfL owns arguably the capital’s largest and most valuable property portfolio, which spans more than 5,700 acres. Instead of selling off land or development rights above stations, TfL plans to retain an interest in sites being redeveloped as it aims to generate £3.4bn in commercial revenue over the next decade.