Newsletter - Links - Advertise - Contact Us - Privacy
 

ECC's planned land grab

Send to friend

* Required fields

Visual CAPTCHA
This step helps prevent unfair use of automated programs.
Enter the word as it is shown in the box above.
Bookmark and Share | Send to friend

January 8 2009

ECC's planned land grab
Edinburgh City Council are looking to build up their land bank by snaffling up land on the cheap from hard hit developers.

Councillors are scrabbling to take advantage of falling land values on the city’s waterfront in particular where prices have fallen by as much as three quarters in the past two years.  

By bringing land under council control city leaders hope to stimulate stalled development and provide more land for affordable housing.  Using this land officials are keen to press ahead with a mix of private, rented and shared-equity homes.

Nevertheless Dave Anderson, the council's city development director, outlined a cautious approach:

"We are looking at strategic land acquisitions but you have still got to have a reason to buy the land and also a revenue stream to pay back the money you have borrowed.

"If you take the waterfront, the land values have just not held.

"There are some developers who are in a position where they either sell assets to get cash flowing again or wait until the bank manager calls and have to hand over the keys.

"But we want to work with them and affordable housing is our main focus at the moment."

These moves form part of measures to jump start the city economy amidst the global economic downturn.

Post your comments

 

All comments are pre-moderated and
must obey our house rules.

 

Back to January 2009

Search News
Subscribe to Urban Realm Magazine
Features & Reports
For more information from the industry visit our Features & Reports section.