The research focuses on 16 of the largest and most dynamic urban areas, where the pressure for development is the most intense.

When looking at current and expected future brownfield land supply across these 16 urban areas, the report findings show a significant untapped opportunity, which could deliver:

- over 1.14 million jobs in office, industrial and logistics space located on urban brownfield sites; and

- nearly £185 billion of additional Gross Value Added directly from business activity occurring on those sites.

When looking specifically at housing development, under a business-as-usual scenario over 518,000 new homes could also be built on current and expected future brownfield land in the 16 urban areas included in the study by 2035. This increases to over 1 million new homes in a more aspirational scenario, reflecting higher densities already being achieved in urban areas.

In our most ambitious scenario, where housing densities are increased in line with the government's proposed uplift in housing targets in England's 20 largest cities and urban areas, it would be possible to deliver over 1.3 million new homes on previously developed land in the 16 study areas.

Development on urban brownfield land could go a long way towards meeting the country's urgent need to deliver more homes, particularly if delivered at higher densities. However, it is recognised that increased densities may not be appropriate or desirable in every urban setting. - it will be for local authorities and developers, in consultation with local communities, to identify the most appropriate balance of uses and densities in each location.

Our planning system remains a significant barrier to achieving the regeneration, housing delivery and economic growth. That's way, in July this year, British Land and Landsec launched a joint discussion paper 'More growth, more jobs, more homes' which proposed a series of simple, practical changes to reform the planning system to unlock urban regeneration.

This paper recommended resourcing planning departments more effectively and piloting new ways of working in progressive authorities, creating tax incentives for urban regeneration, and connecting communities more directly to the benefits of development, with real, measurable opportunities for communities to engage in the planning process.

The regeneration of brownfield land is widely recognised as the most sustainable way to tackle the deepening housing crisis, drive growth and reduce inequalities for future generations. Today's announcement clearly demonstrates the scale of the opportunity available to us.

Mark Allan, CEO at Landsec said: "Both of the main political parties have been clear on their priorities for growth but with the current economic situation, neither party has the capital to invest in that growth. This research clearly demonstrates the opportunity available through brownfield urban regeneration, an opportunity that we believe can be easily unlocked through simple changes to the planning regime, ahead of wider reform."

Simon Carter, CEO at British Land said: "Britain has a housing crisis and a productivity crisis and solving both problems is key to returning our country to sustainable, long-term growth. Unlocking urban regeneration through a series of easily deliverable measures would pay huge dividends for the nation. The research we have published today reveals the scale of this opportunity to deliver growth with community support in cities and major urban areas right across the UK."

Rob Perrins, Chief Executive at The Berkeley Group said: "This research lays bare the untapped potential of brownfield regeneration to tackle the housing crisis, drive growth and tackle deepening inequalities in urban Britain. But development within our towns and cities has gone through a steep and lasting decline as well-meaning changes to planning, tax and regulatory regimes create a rigid and complex system which blocks investment. The good news is that targeted changes can unlock brownfield regeneration very quickly and realise the hugely positive outcomes they can deliver for the communities around them.

Ends

About the research:

The research was conducted on behalf of British Land, Landsec and The Berkeley Group by Development Economics

Study areas:

Urban area

Local authority areas included

London

All 33 local authority areas in the London standard region

Greater Manchester

All 10 local authorities in Greater Manchester

Liverpool

Liverpool, Sefton, St Helens, Knowsley, Wirral, and Halton

West Yorkshire

Leeds, Bradford, Calderdale, Kirklees, and Wakefield

Sheffield

Sheffield, Barnsley, Doncaster, and Rotherham

North East

Newcastle upon Tyne, Sunderland, Gateshead, North Tyneside, South Tyneside, Northumberland; Durham

East Midlands

Derby, Derbyshire, Nottingham, Nottinghamshire

West Midlands

Birmingham, Coventry, Solihull, Dudley, Sandwell, Walsall, and Wolverhampton

West of England

Bristol, Bath and North East Somerset, North Somerset, and South Gloucestershire

In addition to the above, a number of individual local authority areas were also included in the study, as follows: Cambridge and South Cambridgeshire; Portsmouth and Southampton; Oxford; Cardiff; Glasgow; and Belfast.

Data sources

Various datasets and forecasts were used in quantifying the likely future demand for and supply of previously developed land. The principal datasets used were:

- Official population and household projections published by the Office for National Statistics (ONS)

- Local area employment data based on datasets published by the ONS

- The same employment data was also utilised by Development Economics to generate future projections for employment growth

- Housing development density data based on historic datasets published by UK Government

- Commercial development density assumptions based on guidance notes published by Homes England plus evidence extracted from various strategic planning documents

- Land availability data including data published by the respective local authorities in the urban regions covered by the study

Media Enquiries:

Charlotte Whitley, British Land 07887 802 535

Sara Doggett, Landsec 07834 431 258

About Berkeley Group

Berkeley Group builds homes and neighbourhoods across London, Birmingham and the South of England.

We specialise in long-term brownfield regeneration, reviving underused urban land to create unique, sustainable and nature-rich places where communities thrive and people of all ages and backgrounds enjoy a great quality of life.

Our homes and neighbourhoods are individually designed in close consultation with local councils and communities. We believe this is the only way to create places of lasting character, benefit and beauty.

We are a sustainable and responsible business, with industry leading commitments to climate action, nature recovery and social value. Over the last five years we built more than 19,000 homes of all types and tenures and made a £13.8bn contribution to the UK economy.

Through the Berkeley Foundation we fund and support impactful charitable programmes which align with our social purpose and make a profound difference to thousands of disadvantaged people every year.

Find out more at www.berkeleygroup.co.uk/

About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & London Urban Logistics assets throughout the UK. We own or manage a portfolio valued at £13.0bn (British Land share: £8.9bn) as of 31 March 2023 making us one of Europe's largest listed real estate investment companies.

We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & London Urban Logistics.

Our three Campuses at Broadgate, Paddington Central and Regent's Place are dynamic neighbourhoods, attracting growth customers and sectors, and offering some of the best

connected, highest quality and most sustainable space in London. We are delivering our fourth Campus at Canada Water, where we have planning consent to deliver 5m sq ft of residential, commercial, retail and community space over 53 acres. Our Campuses account for 63% of our portfolio.

Retail & London Urban Logistics accounts for 37% of the portfolio and is focused on retail parks which are aligned to the growth of convenience, online and last mile fulfilment. We are complementing this with urban logistics primarily in London, focused on development-led opportunities.

Sustainability is embedded throughout our business. Our approach is focused on three key pillars where British Land can create the most benefit: Greener Spaces, making our whole portfolio net zero carbon by 2030, Thriving Places, partnering to grow social value and wellbeing in the communities where we operate and Responsible Choices, advocating responsible business practices across British Land and throughout our supply chain, and maintaining robust governance structures. Further details can be found on the British Land website at www.britishland.com.

About Landsec

At Landsec, we build and invest in buildings, spaces and partnerships to create sustainable places, connect communities and realise potential. We are one of the largest real estate companies in Europe, with a portfolio of retail, leisure, workspace and residential hubs. Landsec is shaping a better future by leading our industry on environmental and social sustainability while delivering value for our shareholders, great experiences for our guests and positive change for our communities.

Find out more at landsec.com

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