New project to build 10,000 homes on forgotten plots of land in the UK
Hundreds of forgotten plots of land will be turned into high-quality new homes under a new scheme being piloted by the government and the Lloyds Banking Group.
The project, which is called the Small Sites Aggregator, will be primarily focused on ‘brownfield sites’ – areas which were previously developed but are no longer in use due to factors like industrial decline or changes in land use.
The Small Sites Aggregator will initially be piloted in Bristol, Sheffield and Lewisham with a national rollout targeting 10,000 homes a year. By bundling together small, disused brownfield plots, the programme aims to create a stable pipeline of sites that can be planned, financed and delivered at scale.
In the long term, the goal is to attract private capital, enable the use of Modern Methods of Construction, and support a steady flow of work for smaller builders, helping to fast-track affordable and social housing while boosting local jobs.
Lloyds said it will continue to work with the government to develop detailed options for private financing structures, drawing on its experience, expertise, and insight to attract private capital and help deliver the homes the country needs.
“We strongly welcome the government’s announcement today that it will pilot the Small Sites Accelerator in Bristol, Sheffield and Lewisham,” said Charlie Nunn (CEO of Lloyds Banking Group).
“Through the Social Housing Initiative, we’re proud to have helped ignite this innovation in housing development and finance, unlocking the small, brownfield sites in our communities, which are lying empty yet have immense potential to provide good quality homes in our towns and cities.
“This exciting partnership between the public and private sectors will increase investment at pace into the new, genuinely affordable homes that are needed across the UK,” he said.
