The debate persists in the property industry surrounding the best approach for solving the current housing crisis. Micro-apartments, planning reform, a ban on second homes and forcing vacant properties to be let are just some of the solutions offered.
At AfL we believe there is a panacea, Collaboration.
Collaboration is at the forefront of AfL’s mission and we believe that it is the panacea for solving the issue at hand and meeting the Mayor of London’s target of delivering 66,000 new homes per annum. Collaboration between land-owners in London, both private and public, and property developers to unlock value and create opportunity on land that may not be viable otherwise without collaboration and innovation.
In recent times there has been a rise in public-private property partnerships (PPPs), a great example of effective collaborations between developers and public bodies across the UK. Working in partnership with the public sector opens opportunities for development on publicly owned land that the private sector would not usually have access to – land that is forecasted to release space for over 130,000 homes across the capital.
Key to our PPP approach is a mutual understanding. We respect our public partners’ custodial role, drive for local growth and regeneration and support them in their wish to create additional, beneficial opportunities for their communities. Additionally, we’re different in how we develop land. We look at sites on an individual basis and lease land from owners, rather than outright purchase. This approach allows the public body to maintain ownership and re-invest this income to improve its local surroundings. With the use of modular construction too, we’re able to facilitate the creation of new homes for rent quickly and efficiently.
With existing PPPs underway, we are on the lookout for future partnerships and welcome public bodies which share our collective vision for Londoners.