Accelerating surplus public sector land for housing
The public sector is under increasing pressure to deliver new homes and release capital to pay for core services.
With 40% of developable sites owned by the public sector, disposing of surplus public land could create two million new homes. Telereal Trillium, together with its specialist strategic land company, Lands Improvement, has the track record, skills, and financial strength to help unlock that capital, accelerate the disposal of land suitable for housing supply, and stimulate economic growth.
The scale of our planning and disposal activity gives us a significant presence in the residential land market. We have a clear understanding of the consented product favoured by house builders, enabling us to maximise value by obtaining implementable and financially viable planning consents.
Potential private sector solutions
Public sector organisations can partner with the private sector to promote their surplus land holdings. The public sector retains ownership of the land whilst the private sector funds, manages, and leads the planning and disposal process. The private sector is remunerated from the eventual sale proceeds once the enabling capital invested has been reimbursed. Both public and private sector organisations are fully aligned to maximise disposal receipts and minimise costs.
Joint venture co-investment models
Public sector organisations are setting up joint venture partnerships with the private sector to prepare surplus sites for delivery to the market or undertake the construction of new homes. The public sector organisation makes its land holdings available and the private sector co-investor provides all the necessary infrastructure, funding, and skills required for the joint venture to take projects forward.*One Public Estate - LGA/Cabinet Office, Aug 2014
**Savills Research, Nov 2014
Telereal Trillium was appointed onto a 4-year Promoter Framework for Central Bedfordshire Council to fund, manage and lead the planning and disposal process for the Council’s surplus land and buildings. The Framework is open to public authorities/bodies neighbouring Central Bedfordshire Council and also to 17 other local authority members of the Central Buying Consortium.
land and property in public ownership
local authority projected disposal receipts for 2015 - 2018
central government projected disposal receipts for 2015 - 2020
of developable sites owned by the public sector
homes could be delivered from public land