2011-12-31-莱坊-Business_Parks_and_Residential_2012_8页_1mb

Summary of Residential Development Opportunities in UK Business Parks

Key Findings

• The UK faces a chronic housing shortage, with supply failing to meet demand over the past 20 years. Household growth has consistently outstripped new home completions, particularly since 2007/08, leading to a widening gap in many English regions.

• Government policies, including planning reforms, aim to address this by relaxing rules for changing commercial uses to residential. These reforms seek to increase land availability for housing and support developers through changes in the planning system.

• Travel-to-work patterns have shifted, with reduced commuting trips and miles traveled due to ICT advances. This supports the viability of residential development near employment centers, as short distances encourage walking or cycling.

• Business parks offer significant opportunities for residential development, both through new-build and change of use initiatives. Proximity to commercial areas boosts local housing values, and successful examples like Kings Hill demonstrate integration benefits.

• High-opportunity hotspots for development are identified along major corridors, such as the M3/M4 routes and areas like Birmingham, Manchester, and Cambridge, where office space growth outpaces residential supply.

Recommendations

• Developers should focus on business parks for residential projects, leveraging existing infrastructure and planning changes. A collaborative approach is key to integrating residential and commercial components harmoniously.

• Opportunities are greatest in regions with high household growth but low new home supply, emphasizing the need for strategic development in key areas.