Property chiefs are calling for the creation of an Olympic-style body to deliver the homes and infrastructure needed to create a supercluster within the Oxford-Cambridge Arc, warning that a lack of new housing, workspace and suitable infrastructure threatens to stifle growth in the region by pricing out talent and businesses.
The call for an Olympic-style delivery authority is one of the proposals put forward in the ‘Radical Regeneration Manifesto’ produced by property consultants Bidwells, architects Perkins and Will, and policy advisory business Blackstock Consulting.
In total, the manifesto sets out 16 policy recommendations to overhaul the tax and planning systems to make Britain a more attractive place to invest and develop.
In Cambridge, houses prices soared by 73.4 per cent in the last decade, while in Oxford, prices have seen a 66.8 per cent increase. The success of the Arc’s knowledge-based economy, which has an annual GVA of £100bn, has also caused office rents to jump by 11.9% in the last year alone as companies vie for limited space.
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