Mixed Use Development and Affordable Housing Study
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Mixed Use Development and Affordable Housing Study March 2004 Mixed Use Development and Affordable Housing Study March 2004 copyright Greater London Authority March 2004 Published by Greater London Authority City Hall The Queen’s Walk London SE1 2AA www.london.gov.uk enquiries: 020 7983 4100 minicom 020 7983 4458 ISBN 1 85261 587 7 This publication is printed on recycled paper Note This report was prepared by London Residential Research and CBRE for the Greater London Authority. The views expressed are those of London Residential Research and CBRE and do not necessarily reflect those of the Greater London Authority. GLA Mixed use and Affordable Housing Study GREATER LONDON AUTHORITY MIXED USE DEVELOPMENT AND AFFORDABLE HOUSING STUDY London Residential Research (Geoff Marsh) (Damian Harrington) CB Richard Ellis (Neeraj Dixit) (Mark Evans) (Paul Lewis) March 2004 LRR/CBRE 1 GLA Mixed use and Affordable Housing Study TABLE OF CONTENTS EXECUTIVE SUMMARY ............................................................................................4 1.0 INTRODUCTION AND PURPOSE OF REPORT ........................................15 1.1 Purpose of Report ..............................................................................15 1.2 Methodology and Reporting ..............................................................16 1.3 Mixed Use Precedents .......................................................................17 2.0 THE CASE STUDIES..................................................................................19 2.1 City of London Major Office Development ..........................................19 2.2 CAZ - Weak Office Market, Strong Residential Market, Vauxhall........29 2.3 Opportunity Area - Weak Office Market, Strong Residential Market, The Royal Docks ..............................................................................36 2.4 Outer London Major Town Centre, Croydon .......................................40 2.5 Outer London Local Town Centre, Whetstone....................................47 2.6 Outer London - Under Utilised, Scruffy Industrial Estate in Primarily Residential Area, Wandle Valley ........................................................51 3.0 THE UNEVEN PLAYING FIELD BETWEEN OFFICE AND RESIDENTIAL DEVELOPMENT ..........................................................................................56 3.1 Observations on the Examination in Public Panel Report Regarding Mixed Use Development ....................................................................56 3.2 Current Office and Mixed Use Development Policies in Central London Boroughs............................................................................................61 3.3 Possible Implications of ODPM Planning Obligations Consultation ........ Paper November 2003 .......................................................................68 4.0 COMPARISON OF VALUES BY USE, BY BOROUGH, BY SUB-REGION .......................................................................................71 4.1 Background........................................................................................71 4.2 Central Sub-Region.........................................................................73 4.2.1 Overview ..................................................................................73 4.2.2 Islington....................................................................................73 4.2.3 Camden....................................................................................74 4.2.4 Westminster .............................................................................76 4.2.5 Kensington & Chelsea ..............................................................78 4.2.6 Wandsworth .............................................................................79 4.2.7 Lambeth ...................................................................................80 4.2.8 Southwark ................................................................................81 LRR/CBRE 2 GLA Mixed use and Affordable Housing Study 4.3 East Sub-Region................................................................................83 4.3.1 Overview ..................................................................................83 4.3.2 The City of London ...................................................................83 4.3.3 Tower Hamlets .........................................................................84 4.3.4 Hackney ...................................................................................85 4.3.5 Newham ...................................................................................87 4.3.6 Redbridge.................................................................................89 4.3.7 Barking & Dagenham ...............................................................90 4.3.8 Havering...................................................................................91 4.3.9 Bexley ......................................................................................92 4.3.10 Greenwich ...............................................................................93 4.3.11 Lewisham ................................................................................94 4.4 West Sub-Region...............................................................................96 4.4.1 Overview ..................................................................................96 4.4.2 Hounslow..................................................................................96 4.4.3 Hammersmith & Fulham...........................................................98 4.4.4 Ealing .......................................................................................99 4.4.5 Brent.......................................................................................101 4.4.6 Harrow....................................................................................102 4.4.7 Hillingdon................................................................................103 4.5 South Sub-Region ...........................................................................105 4.5.1 Overview ................................................................................105 4.5.2 Richmond upon Thames.........................................................105 4.5.3 Royal Borough of Kingston upon Thames ..............................106 4.5.4 Merton....................................................................................107 4.5.5 Sutton.....................................................................................109 4.5.6 Croydon..................................................................................110 4.5.7 Bromley ..................................................................................111 4.6 North Sub-Region............................................................................113 4.6.1 Overview ................................................................................113 4.6.2 Barnet.....................................................................................113 4.6.3 Enfield ....................................................................................114 4.6.4 Haringey.................................................................................115 4.6.5 Waltham Forest ......................................................................116 5.0 CONCLUSION .................................................................................117 LRR/CBRE 3 GLA Mixed use and Affordable Housing Study EXECUTIVE SUMMARY 1.0 INTRODUCTION AND PURPOSE OF REPORT Issues of Principle This report was commissioned by the Greater London Authority in May 2003. The research and report writing has been undertaken by London Residential Research, working with CBRE. The main purpose of the report is to explore whether draft London Plan policies to promote mixed use are likely to be effective in promoting new development of sufficient scale and quality to accommodate London’s projected economic and population growth, including affordable housing, in a manner consistent with the principles of sustainability. In particular, the consultants were asked to explore the possible market implications of mixed use policies designed to encourage office development, linked to planning obligations to secure housing from the office space and to draw out the policy implications for the Sub Regional Development Frameworks. In this context the key policy to be examined is 3B.5, which is reproduced below for ease of reference. Policy 3B.5 Mixed Use Development “Within CAZ and the Opportunity Areas, wherever increases in office floorspace are proposed, they should contain a considerable amount of residential floorspace. The relevant proportions will be defined in sub-regional frameworks” Policy 3B.5 is itself further explained in para 3B.26, which is also reproduced below. “The policy (3B.5) will be developed in the sub-regional frameworks, taking into account the policy in Westminster’s UDP (based on 50% office and 50% housing) and allowing for certain exceptions. These exceptions will concentrate on areas where such a mix would demonstrably undermine the strategic policy for other developments, including parts of the City and the Isle of Dogs. In such areas, off-site provision of housing elsewhere on redundant employment or other land will be required as part of a planning agreement”. At the Examination in Public (EiP) into the draft Plan, it is fair to say that 3B.5 was strongly criticised by the office development and investment