Land Value Capture – A Current Hot Topic

Land value capture will be a hot topic in connection with the proposed high level of development in the Oxbridge Corridor, all of which came a step closer with the recent publication of the preferred route for the Expressway.

The Centre for Progressive Capitalism published a report on the issue in October 2017 which set out how the rise in land values could potentially support a £14bn investment in infrastructure and affordable housing along the Cambridge – Milton Keynes – Oxford corridor (East West corridor) a proposition predicated on Parliament passing primary legislation to enable local authorities participating in large scale infrastructure projects to receive a greater share of the uplift in land values to fund the project. The report indicated that attempts in the Neighbourhood Planning Act to capture a rise in residential land values will be in sufficient to finance infrastructure and recommended new legislation including amendments to CPO compensation to