The GLA is calling for more powers to be given the mayor and local authorities to help pool land for development.
Critically, it is asking for more CPO powers to help assemble land in large scale developments.
The GLA had commissioned a report looking at how land in multiple ownerships is brought forward for development in various places around the world. The report, “Capital Gains: A Better Land Assembly Model for London” looked at schemes in the Netherlands, France, Germany, and the USA.
Alongside new CPO powers, it also advocates mechanisms for curbing land value speculation in areas due for development and creating special land assembly zones, which could see land values frozen at market value on the date of designating the zones.
The GLA says the complexity of land assembly in London has hindered the construction of new homes, and that Khan needs reformed compulsory purchasing powers, alongside new land assembly mechanisms and resources.
Khan said: “Giving City Hall more powers to bring land forward and ultimately buy it if necessary, as is common in other parts of the world, would help us build more homes, more quickly.
“It also shows how practical steps to curb speculation – where owners and developers trade land and see its value go up and up – could help us build more social rented and other genuinely affordable homes.”
Urbanism Environment and Design produced the report.
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