Champion Hill: Proposed Ground Redevelopment

[EDC]

I can’t see it happening. Building material prices and labour have rocketed and the profit the developers were hoping for will have plummeted.

First to go will be the no profit for them football ground followed by what little social housing they may have been obliged to provide. I can see a revised application with another storey added to the flats and we’re back to square one waiting for approval and all the protests against it.

 

[Paula_G]

The interesting scenario arises should the hedge fund investors lose interest in the project and decide to cash in their investment. Hopefully the club and the trust have prepared themselves for that possibility?

 

[Roger D]

Throw the changes to the National Planning Policy Framework into the mix too. A few planning applications are being withdrawn out this way. The cynic in me suspects the land is simply being banked, in expectation of a relaxation of planning regulations and we'll see another planning application with more flats, houses, whatever on the same site next year.

With the clock ticking on the current planning application, there must be a chance it will be allowed to simply lapse and a new application submitted with more housing.

The nightmare scenario for Hamlet would be if the Labour "bonfire of red tape" removed MOL protection from low quality MOL - with profit re-invested in improving the remaining MOL land.as a sweetener. The astro would be a prime candidate for low quality MOL. Then housing is in play for that land. I'm not aware of any such proposals, but the mood music is drifting in that direction.

 

[editor]

Throw the changes to the National Planning Policy Framework into the mix too. A few planning applications are being withdrawn out this way. The cynic in me suspects the land is simply being banked, in expectation of a relaxation of planning regulations and we'll see another planning application with more flats, houses, whatever on the same site next year.

With the clock ticking on the current planning application, there must be a chance it will be allowed to simply lapse and a new application submitted with more housing.

The nightmare scenario for Hamlet would be if the Labour "bonfire of red tape" removed MOL protection from low quality MOL - with profit re-invested in improving the remaining MOL land.as a sweetener. The astro would be a prime candidate for low quality MOL. Then housing is in play for that land. I'm not aware of any such proposals, but the mood music is drifting in that direction.

One thing is for sure: developers don't give a fuck about anything except a fat return on their investment.

 

[darryl]

I can’t see it happening. Building material prices and labour have rocketed and the profit the developers were hoping for will have plummeted.

I think this is a more likely scenario than land-banking, etc - plus there have been changes in building regulations to take into account the Grenfell Tower fire. I'm surprised that the site (with planning permission) hasn't been sold on to the likes of Berkeley or Galliard.

The planning permission is dated February 2022 and lasts for three years, so not long left (click on "section 106 agreement" under "documents"): https://planning.southwark.gov.uk/o...s.do?activeTab=documents&keyVal=ZZZV0JKBWR961

As far as I understand, they can game this by doing some token works to "start" the development, but it's not as if they've made any new filings to Southwark to indicate progress.

 

[Roger D]

That's correct, unless laws have changed recently. It always used to be start the groundworks and you are ok.

There was chatter about changing that as it led to some right eyesores, a prime site in Aldershot was left with just basic groundworks for years. In Southampton a building firm ceased construction of flats on a key site due to changes in the market, leaving half built blocks of flats. Not aware of any actual action though.

Many of the developments being withdrawn here are new. One near me has just been pulled before a planning decision but after they'd spent thousands. I fully expect it back once the new NPPF has bedded in.