Insurance News Archive
Plans to transform cities into commercial property hotspots are seen as a priority
Property owners and investors will be pleased to hear that recent government regulations, which could potentially aid the development of commercial property for UK businesses, are being pushed to the top of councils' priority lists.
Development plans for new commercial property are likely to be fast-tracked to the top of council agendas in an attempt to boost small businesses' fortunes. The Department for Communities and Local Government has said that all large UK cities will be invited to make a case for why they should house new developments.
Cities minister, Greg Clark, said: "Dynamic cities are essential to faster economic growth across the UK so it's vital they have the means to exploit their potential. We are determined to see UK cities given greater control over their economic destiny."
If the plans are accepted and passed into the Localism Bill, local authorities will be given the power to improve growth within their own areas both in terms of housing as well as business development.
Property owners looking to invest in any new commercial property as a result of these plans should make sure they have adequate commercial property insurance.
Posted by Dan Winter
23 Sep 2011
