LONDON PROPERTY SUMMIT: Poor planning authorities outside the capital and a costly application process are harming UK plc, developers warned.
Speaking at the London Property Summit in Westminster, British Land chief executive Chris Grigg said he was concerned about the current planning system.
“I’m optimistic about the rest of the UK but very concerned about planning,” he said.
“In planning terms there’s chalk and cheese. There are some atrocities going on in the system.”
Hammerson chief executive David Atkins added: “You have blockages and issues around resources in planning teams that are damaging to local economies and jobs.
“It is a cost to schemes and a challenge to viability. When you have schemes where the planning and legal fees are greater than the land value there is something that is very, very wrong.”
damian.wild@estatesgazette.com
