Land auc­tions may boost coun­cil funds

Yorkshire Post - Property - - PROPERTY -

COM­MU­NITY land auc­tions whereby more plots could be made avail­able for new homes are to be tri­alled.

Lo­cal coun­cils are be­ing in­vited to join the 12-month pilot, which will ini­tially in­volve only land owned by the pub­lic sec­tor. If suc­cess­ful, it would then be rolled out. Un­der the scheme, lo­cal authorities would be able to ask landown­ers to sub­mit sealed bids giv­ing the price at which they would be pre­pared to sell their land.

The coun­cil would then have the right to buy the land at that price for a spec­i­fied pe­riod, grant plan­ning per­mis­sion and auc­tion it off to de­vel­op­ers. The model means that lo­cal authorities would cap­ture the lion’s share of the land value up­lift.

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