30 commercial property Planning ahead
Conor Geoghegan of Penningtons Solicitors LLP examines the Government‘s new proposals for house building and planning to help boost the building sector
The secretary of state for communities and local government, Eric Pickles, announced government plans intended to encourage growth in the property arena, particularly house building, on September 6, 2012. These measures include changes to planning legislation targeted at increasing development and, hopefully, growth in related industries.
Of interest to developers will be the introduction of legislation, to become effective in early 2013, which will allow a developer of a site considered by them to be unviable, due to the affordable homes allocation requirement, to appeal for a variation of that allocation. The planning inspector may amend the affordable homes allocation within a section 106 agreement for a three-year period to reflect current economic circumstances. Consultation is already taking place
regarding formal applications to local authorities to vary section 106 agreements which were entered into before April 2010. The Government is encouraging local planning authorities to take the opportunity to try and negotiate unviable elements of these agreements with developers in advance of the legislation coming into effect, and developers may wish to take advantage of this.
The Government will also be looking at measures to reduce delays in the planning system, including proposals to legislate to allow applications to be decided by the planning inspector where a local authority has a track record of consistently poor performance in the speed or quality of its decisions. This will include requiring more transparent reporting of local authority performance on planning; the Government would be
Other proposals intended to modify the planning system to encourage growth include the extension of permitted development rights that will enable the construction of extensions to homes and businesses in non-protected areas for a three- year period.
Conor Geoghegan
working with the Local Government Association to increase the use of planning performance agreements for major schemes, designed to commit the applicants and the planning authorities to a clear timetable for determining proposals.
Measures which are intended to assist in dealing with low occupancy rates of existing commercial premises are also being considered, such as the introduction of permitted development rights to enable change of use from commercial to residential purposes.
Centre‘s monthly footfall up by 261%
A newly-revitalised waterfront destination near Portsmouth has seen visitor numbers surge following a series of high-profile lettings. The thriving retail and leisure hub at The Boardwalk at Port Solent (pictured) is now attracting 3.6 million a year – 300,000 a month – with 95% tenant occupancy.
According to Samantha Golden, centre manager, the ‘glowing‘ figures compare to 2009 when
vacancy was just over 50%, with just under a million visitors per year or around 83,000 a month.
The two latest occupiers are Cotton Traders, which has more than 130 branches nationally and has signed a 10-year lease, and telecoms specialist Victory Communications, with 30 staff moving into a nearby office, on a 5.9 years lease.
Both deals were handled by the retail arm of regional commercial
property consultancy Hughes Ellard, with responsibility for lettings and asset management on behalf of CBRE Investors.
Port Solent Marina, owned and operated by Premier Marinas is the third-largest marina in England with 808 berths and celebrates its 25th anniversary this year, with The Boardwalk now in its 28th year.
Golden was appointed in 2008, at the height of the global credit
The measures may encourage developers, businesses and homeowners to proceed with plans to develop sites currently considered economically unviable, or extend their existing properties, as the case may be, with a knock- on effect on the wider economy through increased activity in the construction and associated sectors.
Details of further measures are expected in the next few weeks.
Details: Conor Geoghegan 01256-407100
conor.geoghegan@penningtons.
co.uk www.penningtons.co.uk
crunch, with the long-term remit to turn the waterside location into a popular destination venue. She said: “On average we‘re seeing 300,000 people a month shopping, eating, drinking and being entertained at Port Solent, and the transformation is incredible, with a 261% rise in monthly footfall compared to three years ago and despite a difficult economy.
“The place is positively thriving, with Hughes Ellard playing a pivotal role in generating serious levels of retail interest and converting them into lettings. What‘s more, valuable jobs are being created.“
Added Tim Clark, Hughes Ellard‘s retail director: “The Boardwalk, which overlooks the marina, has a great Mediterranean feel, despite the best efforts of our British weather. The proximity of well- known retailers and restaurant chains, with the multiplex cinema and David Lloyd health and fitness club, is proving a hit with families and friends wanting a good time.
Visitor numbers have surged at Port Solent following high-profile lettings
www.businessmag.co.uk
“With the scheme now nearly full, with 30 occupiers, there may well be scope for further shops and restaurants on site.“
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – OCTOBER 2012
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