|
Getting your Trinity Audio player ready...
|
Introduction
Deloitte’s 2024 Regional Crane Survey, which tracks construction activity in Belfast, Birmingham, Leeds, and Manchester, revealed a significant slowdown in new construction starts. Only 47 projects broke ground in 2024, compared to 63 in 2023. This survey is a key indicator of UK-wide construction and property development trends. The primary reason for this decline is attributed to rising construction costs, driven by global economic factors and inflation, which are putting pressure on the sector.
Despite the drop in new projects, the survey found a healthy number of ongoing developments in these four cities. In 2024, 130 schemes were under construction, spanning various sectors including offices, residential, hotels, retail, education, and student housing.
Funding opportunities are available for businesses, developers, and commercial and residential property owners to help finance their projects. Local authorities, in particular, can offer partial grants for specific development activities within their areas. This funding can support the renovation of vacant or dilapidated properties, returning them to the housing market, revitalizing commercial spaces, and creating new residential or commercial units.
What Are Some Of the Latest UK Property Development Grants Available?
i) Transforming Towns Programme – Town Centre Commercial Property Improvement Grants
Bridgend County Borough Council is providing a scheme for commercial building occupiers and owners to access funding to enhance building frontages together with the development of vacant commercial floor space to bring it back into beneficial business use. Funding up to £250,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
ii) Empty Property Grant
The London Borough of Camden council is providing grants for landlords in the local area to help them repair and renovate their empty homes and bring them back into use. Funding up to £80,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
iii) Below Tolerable Standard Grants
Dumfries and Galloway Council is providing grants for residential property owners in the local area to improve and repair their properties if they fail to meet the Tolerable Standard. Funding is included for landlords. Funding up to £20,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
iv) Empty Property Grants
Barnet Council is providing a scheme with grants for landlords who own empty properties to repair, renovate and/or convert their properties and bring them back into residential use. Funding up to £25,500 is available.
Application Deadline: Applications are accepted on an ongoing basis
v) Renovation Grants for Landlords
East Suffolk Council is providing grants for landlords and owner-occupiers to bring properties in the Denmark Road area of Lowestoft up to the Decent Homes Standard. Funding up to £15,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
vi) Fire Safety Grants
Harborough District Council is providing grants for landlords to carry out essential fire safety improvements for their properties to ensure compliance with relevant legislation and guidance. Funding up to £10,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
vii) Transforming Scunthorpe’s Housing Fund
North Lincolnshire Council is providing funding to support measures including regeneration and redevelopment of a vacant property to bring back into residential use, conversion of vacant commercial floorspace to residential use and development of new-build homes. Funding up to £300,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
viii) Large Scale Property Improvements Grant
Rhondda Cynon Taf County Borough Council is providing a scheme to target buildings with vacant floorspace in key town centres. Eligible works include the development of large vacant premises, supporting vacant properties back into the market and creating new commercial units. Funding up to £250,000 is available.
Application Deadline: Applications are accepted on an ongoing basis
How To Apply For Property Development Schemes
Full details about how to apply for schemes and the eligibility criteria is available on each individual scheme page on the relevant website. Any deadlines, who can apply and what eligible costs the grants will cover will also be outlined on these pages. Interested businesses can speak to funding advisors based at each provider who can guide them through requirements and eligibility criteria to see if the relevant funding is a match with their needs and help them to apply. There are also application forms and other supporting guidance available on scheme pages as well.
Want To Find The Latest UK Property Development Funding Opportunities?
If you want to see the full set of UK property development funding currently available, please visit https://getbusinessgrants.com/
