Finance
6 Jan 2022

Access £1.8bn in funding for a new brownfield redevelopment

Government is investing an extra £1.8bn, enough to bring 1,500 hectares of brownfield land into use, meet their commitment to invest £10bn in new housing and unlock a million new homes.

Opportunities for SME brownfield funding

The types of abnormal costs requiring funding may include:

  • Site levelling, groundworks, demolition
  • Provision of small-scale infrastructure
  • Highways works or other access challenges
  • Addressing environmental constraints

Please note that this is not an exhaustive list.

 

What are the requirements

  • Demonstrate a return for Government investment into these small sites
  • Be confident these schemes will deliver within the funding timescale

Application assessment will be based on the material provided within the application template, basic details form and technical annex which contain further guidance.

All applications will be jointly assessed by Cabinet Office, the LGA and MHCLG on a competitive basis. Self and custom-build projects will be assessed separately.

Applications will then be assessed against the criteria below:

Full LRF/SCB criteria Criteria Weight
Value for money (see Technical Annex)
Benefit Cost Ratio (BCR) based on land value uplift and non-monetised benefits 30%
Gross Value Added (GVA) per hour worked 10%
Strategic Case 30%
Deliverability Assessment 20%
Innovation 5%
Public Sector Equality Duty 5%

Full fund details found here – https://www.local.gov.uk/fund-details

 

How to apply

Go to – https://www.local.gov.uk/how-apply

 

All applications should be co-ordinated by the OPE partnership and submitted by the accountable body for the partnership. Complete the application template, basic details form and technical annex fully, alongside any other essential supporting documents.

To contact your local OPE partner go to – https://www.local.gov.uk/topics/housing-and-planning/one-public-estate/contact-ope

Or

Visit your relevant LEP website and then give them a call. To find your regions LEP website visit https://www.lepnetwork.net/local-growth-hub-contacts/

 

Sub-regional variations

  • As these grants are allocated on a sub-regional basis, the provision will change from area to area.
  • There may even be funding variations between near-by urban and rural sites.
  • There could be sub-regional overlaps too as more than one LEP may cover the area you’re working in.
  • West Midlands example: One grant example local to RCA in the West Midlands is The Black Country Land and Property Investment Fund. Available via the Black Country LEP, this provides grants towards regeneration of brownfield sites and new business creation.

Link to page

https://www.local.gov.uk/fund-details

Link to original article

https://www.insidehousing.co.uk/news/chancellor-confirms-18bn-fund-to-unlock-1500-hectares-of-brownfield-land-73088?utm_source=Ocean%20Media%20Group&utm_medium=email&utm_campaign=12762270_IH-DEVELOPMENT-%26-FINANCE-28-10-2021-GR&dm_i=1HH2,7LJFI,7NBG1W,UXSBW,1

 

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