West End development underway following red tape reduction
The government's introduction of the new Growth and Infrastructure Bill to parliament has paved the way for a new project to get underway in Victoria that could transform the West End suburb.
Land Lease is to begin work on a new £350million scheme that will see the construction of a new luxury flats complex at the former Kingsgate House site, delivering upwards of 2,500 new construction jobs in the process.
The prime minister (PM) has cited this project as an example of the fact that the coalition government's push to reduce red tape in the construction sector is working, with the initiative already helping to unlock new investments and helping to get the economy moving once more.
Land Securities chief executive Robert Noel said: "It is heartening to know that government has listened to the industry and acted to remove some of the uncertainty in the planning process.
"It enables us to take forward the development of the former Kingsgate House site and continue our transformation of Victoria to a distinct and vibrant West End hub."
PM David Cameron added that the removal of certain planning levies that could result in contractors being double-charged has been a key milestone of the new legislation, with the Bill "slashing unnecessary bureaucracy" and giving businesses more confidence to invest in new schemes.
Indeed, he claimed that already these changes to the planning system are having a profound impact on levels of investment and activity across the country.
Meanwhile, the government is also aiming to stimulate the UK's self-build enthusiasts to get moving forward on new projects.
As such, the Department for Communities and Local Government has set up a new £30 million fund to offer greater investment opportunities for those keen to build their own home. The money will be available across all parts of the UK and can be used for land acquisition, as payment to contractors and other building costs.
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