The Property Development team in the Canal & River Trust plays an important role in contributing to the funding of the waterway network, through improving the capital value of properties with development potential.
It does this by securing planning consents, undertaking land assembly and preparing otherwise redundant property for development. It then realises the enhanced value it creates, which can then be reinvested to generate revenue funding.
The development process can take significant time to realise the potential of opportunities. In the short term, the team also generates revenue through short-term letting of undeveloped sites, which can help fund the waterways as well.
In the ten years to 31st March 2012 Property Development team activity has generated capital receipts from sales of £169m and a total net income of £36m of revenue contribution from development property.
In addition to making money our development sites are also used to create additional benefit for customers and users wherever possible. For example, by establishing new waterway destinations, improving access to the waterway, or providing new facilities for our users within developments.
We strive to set an example to developers of waterside sites that we do not own by establishing best practice on those that we do. To this end we build schemes that respect the waterway setting, its heritage and environment.