Politicians tell
property developers and investors at MIPIM that publicly-owned land in London
and the rest of the UK is up for sale, writes Paul Coleman.
Set-piece 'debates' conceal the public land deals conceived at MIPIM |
Land grab
MIPIM, the
‘international real estate show’, hosted in Cannes in the south of France,
shapes up like a global ‘Monopoly’ board game.
Players fling
dice in the shape of millions of dollars at property in cities across the
world.
London and other
British cities offer specific potential profits to property developers and
speculative investors – in the shape of publicly owned land, recently made
available for private sale by locally elected politicians.
Sacred
Richard Claxton,
chairman of construction consultancy Pellings hosts a debate by asking: “Is the
Green Belt the answer to London’s Housing Crisis?”
The Green Belt, swathes of protected land around London, now
no longer seems sacred.
Will London's green and pleasant Green Belt mutate into a greedy and unpleasant construction belt?
Will London's green and pleasant Green Belt mutate into a greedy and unpleasant construction belt?
At Cannes, you
find UK delegations totally support High Speed 2, the multi-billion rail link
between London, Birmingham and other northern cities. “Sheffield, Nottingham
and Leicester will have opportunities through HS2 opening up London to the rest
of the country,” says Steve Norris of the Temple Group planning consultancy.
At Cannes you
won’t find local folks from Camden Town protesting how HS2 might demolish their
homes, businesses and destroy long-established family and social networks.
Tax breaks
Elsewhere,
inside MIPIM, announcements fly. The Selly Oak hospital site in Birmingham – a
former NHS hospital - is up for sale, reports Lisa Pilkington of property mag, Estates
Gazette.
People under a
‘Sheffield City Region Enterprise Zone’ announce ‘expansion plans’ where
investors will enjoy ‘tax breaks across a range of prime sites’.
Excited
Chunks of London
attract global MIPIM property players, including areas deemed by politicians and the
property industry as ‘rundown’, ‘underused’ and in need of ‘regeneration’.
Take just one of the
many excited Tweets from property media outfit, Estates Gazette. ‘Greater portion of stock we’re buying now is beyond Central London.
Pop growth means demand for resi so we see good value there.
Translated.
‘London’s rising
population means increased demand for genuinely affordable homes is pushing up
prices in areas beyond central London.
‘More profits
for us.’
Paul Coleman, London Intelligence, March
2014.
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