HOUSING

How to support local real estate projects post Brexit

Councils supporting local real estate development must adhere to a new subsidy regime following the revocation of EU state aid rules, explains Clive Bleasdale.

Councils have a vested interest in the success of local real estate development. The UK is grappling with a housing shortage, so supporting schemes that improve the provision of new homes, and in many cases unlock regeneration and deliver a welcome shot in the arm to an area's economy, makes sense for local government.

This support can come in many forms. It can be financial, involving grants and tax exemptions, or it can be more practical, including the direct provision of council resources, such as goods and services, and the disposal of local authority-owned land to free up a site for development.

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