Savills has been appointed by the Greater London Authority (GLA) to help develop a strategy to invest in industrial intensification and mixed use development.
The GLA is looking at new ways to provide urgently needed housing by using some of London’s industrial land while protecting and investing in London’s industrial capacity.
The GLA is considering using its Land Fund to work with partners to bring forward industrial intensification projects, and has appointed Savills to assess the best approach.
Rory Brooke, Savills Head of Economics, said: “One way to do this is to intensify industrial activity in multi-storey buildings so that the same amount of floorspace and capacity is provided on less land, freeing up remaining land for housing-led development. There is a need to understand what is holding back this new market and what can be done to encourage new schemes.”
James Murray, Deputy Mayor for Housing and Residential Development, said: “Tackling London’s housing crisis requires using all the tools at our disposal. This work will help identify ways the GLA can intervene to free up more land for housing, while ensuring we protect and strengthen industrial capacity in our capital.”
Savills is already working with the GLA and developers on various projects looking at the viability of formats for multi-storey and mixed use industrial development and marketing these products.’