Up to 600 new starter homes are to be built on the old Forth Goods Yard in Newcastle with the aid of a new company being set up by the government. More will be “unlocked” ministers announced. The new homes will be aimed at first-time buyers and renters.
A new government-owned development company, Platform4, is being set up by the government to “kickstart the delivery of up to 40,000 new homes over the coming decade by transforming surplus land into thriving communities,” with green spaces, shops and hotels as well as homes. More than 15,000 of the new homes are expected to be delivered over the next five years, with sites in Manchester, Nottingham and Cambridge as well as Newcastle revealed today.
Transport Secretary Heidi Alexander made the announcement in Newcastle. She said: “Our railways are more than just connections between places – they create economic opportunity and drive regeneration. It’s exciting to picture the thousands of families who will live in these future homes, the vibrant neighbourhoods springing up and the new businesses that will launch thanks to these developments.
“Platform4 will breathe new life into these spaces, delivering tens of thousands of new homes as part of our Plan for Change promise to build 1.5mn homes, while reviving communities around rail stations, supporting jobs and driving economic growth.”
The Department for Transport (DfT) said in a joint statement with the Ministry of Housing, Community and Local Government (MHCLG): “Platform4 will bring…functions, skills and capabilities together in a unified structure to deliver 40,000 homes over the coming decade by disposing of surplus rail land, attracting private investment and accelerating community regeneration.
“Platform4 is expected to generate an additional £227mn by delivering at greater pace and scale. The move will breathe life into forgotten corners of Britain’s railway land, from disused goods yards to vacant industrial sites, kickstarting £1bn worth of new developments across the country.
Platform4 aims to attract more than £350mn in private sector investment said ministers. The company would tackle the challenges associated with building on railway land and would form partnerships with other public sector landowners to make the land more attractive to private developers.
The company has been formed from the merger of London and Continental Railways Limited and Network Rail’s property development team. Profits would be reinvested into Britain’s railways, the government said.
Housing crisis
Deputy Prime Minister and Housing Secretary, Angela Rayner, said: “We are facing a housing crisis which has led to a generation being locked out of homeownership, all while land sits empty and disused across the country. We said we’d do everything possible to get Britain building, and that’s why today we’re setting out how we’ll get more homes built across surplus railway network sites in line with our brownfield-first approach and our Plan for Change target of delivering 1.5mn homes.”
Bek Seeley, chair of Platform4, said: “Platform4 will deliver on key government priorities, creating new homes and jobs and stimulating economic growth. Working alongside our partners and local authorities, we will create sustainable places that bring communities and customers together and leave a positive legacy for future generations.”
Ian Hoad, chief executive of homebuilders Keepmoat, said: “We are delighted to welcome Heidi Alexander…and our partners from Network Rail to our Heaton Quarter Development in Newcastle to announce the launch of Platform4, which will help to unlock the delivery of thousands of much needed new homes across the UK.
”This report is based on a government press release.
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