A coalition of regeneration experts have today outlined plans for a ‘New London Mix’ of housing and commercial space, which could support growth and increase current light industrial floorspace supply by up to 20%.
This report explores how the ‘New London Mix’ can be provided both in existing industrial areas where the new London Plan might allow limited land release for mixed development if no net loss was achieved. However, perhaps more crucially, it considers how this mix would work in spaces that traditionally sit outside of employment areas, such as the edge of town centres, in estate regeneration or in transport-led housing growth areas, to not only protect employment land, but also in-effect create it.
The report goes on to make several key recommendations to the government and private sector in order to achieve this mix:
- Establishing a significant London-wide Commercial Space Investment Fund that generates co-investment to accelerate and support the provision of new forms of mixed residential and employment development that accommodate industrial space.
- Establishing area-based Local Economic Growth Companies to purchase, hold and manage employment space from an early stage in the development cycle with a focus in Opportunity Areas where there is potential for mixed employment and residential development at scale.
- Developing enhanced and updated planning policies, area frameworks and development management approaches and good practice guidance at both a regional and local level to support effective delivery of mixed employment and residential schemes.
- Delivering five trailblazing projects by 2022 that demonstrate a range of conditions, typologies and delivery routes, exploring social impact and diverse investment opportunities supported by a longitudinal research programme.