- 14 May 2018
- Transport / Logistics Services
Industrial property real estate agents Savills have been asked by the Greater London Authority (GLA) to look into developing a strategy to invest in industrial intensification and mixed use development.
There is a tussle between the need to build housing and industrial property such as parcel depots to serve the needs of those living there already. The GLA is in the process of looking at how to use some of the land slated for industrial use in housing, while protecting the capacity of London to meet its own industrial needs.
Consequently the GLA is looking at using its Land Fund to work with partners to bring forward industrial intensification project plans, and has hired Savills to assess the best approach.
Rory Brooke, Savills Head of Economics, said: “One way to do this is to intensify industrial activity in multi-storey buildings so that the same amount of floorspace and capacity is provided on less land, freeing up remaining land for housing-led development. There is a need to understand what is holding back this new market and what can be done to encourage new schemes.”
James Murray , Deputy Mayor for Housing and Residential Development, said: “Tackling London’s housing crisis requires using all the tools at our disposal. This work will help identify ways the GLA can intervene to free up more land for housing, while ensuring we protect and strengthen industrial capacity in our capital.”
Savills is already working with the GLA and developers on various projects looking at the viability of formats for multi-storey and mixed use industrial development and marketing these products.