Re-use or Re-strict?

The Secretary of State’s decision on M&S Oxford Street indicates the increasing weight given to zero carbon and heritage matters. The focus on these issues generates additional challenges to bringing forward complicated urban regeneration, especially where there are existing buildings. The consequences of the decision is a risk that maintenance of inefficient buildings is curtailed, and to let them fall into dereliction rather than risk having them retained beyond the time they are economically viable. The decision risks slowing the delivery of more efficient buildings that underwrite economic growth.

The difficult choices those in Government need to make, to enable occupiers to have buildings they need, cannot be clearer.

The complex and burdensome planning process needs to be recognised in financial viability assessments as part of the planning process - it is clear that commercial funders reflect the risk by withdrawing from the market or increased funding costs for projects that require planning - the further the planning system drifts from this reality, the greater the risk that economic growth, that relies on changes to the built environment, is stalled.

July 2023