Skyward PropertyThe New Frontier of Airspace Development in the UK
The Advent and Impact of Airspace Development
- Introduction to Airspace Development
- Overview of the UK’s significant surge in airspace development following the 2020 planning rule changes, enabling the addition of up to two extra storeys to buildings.
- Discussion of how these developments are redefining urban landscapes and offering novel solutions to the housing crisis.
- Air-Space Deals on the Rise
- Analysis of the dramatic increase in “air-space deals,” with insights from industry experts like Daniel Minsky on how these developments affect ground rent values and offer new strategic opportunities for freeholders.
Market Dynamics, Potential Housing Impact, and Specialized Players
- Potential Housing Impact
- Exploration of the potential for new housing units, with varying estimates and perspectives from industry leaders and government assessments.
- The Emergence of Specialized Players in the Market
- Introduction to companies like Apex Airspace, Click Above, and Fruition Properties, focusing on their role in shaping the airspace development sector.
- Discussion on the formation of the Association of Rooftop and Airspace Development and its aim to establish professional standards in the industry.
Leaseholder Concerns, Challenges, and the Call to Action
- Balancing Benefits and Leaseholder Concerns
- Examination of the benefits of airspace development against the backdrop of leaseholder concerns, including property value and structural integrity.
- Leaseholder Dilemmas and Challenges
- Presentation of real-world dilemmas faced by leaseholders, illustrated with examples like the residents of Grange Court.
- What’s Next in Airspace Development? A Call to Action
- Encouragement for stakeholders to engage with airspace development opportunities and address the housing shortage creatively.
- Call to action for property developers, freeholders, and industry players to collaborate and navigate the challenges and opportunities presented by this new frontier.
- Emphasis on Skyward Property’s commitment to guiding and supporting stakeholders through this transformative phase in UK property development.