About Airspace Development
Airspace development refers to the creation of new homes in the ‘air-rights’ on top of existing buildings, by usually one or two additional storeys.
By utilising the existing rooftops, a huge number of new homes can be built with minimal disruption to existing communities and the London skyline – an exciting prospect in a city where the supply of land and homes is limited.
Airspace development is also far more sustainable than the prevailing system for new-build housing. Existing buildings are preserved and often enhanced in order to improve saleability. Older buildings are given a new lease of life, rather than falling into disrepair or being demolished unnecessarily.
The development of technology, specifically with regards to materials and construction techniques, also means that airspace developments can now be produced with greater ease and cost efficiency.
The benefits of Airspace Development
Benefits to existing owners
· Cost savings on service charges & building maintenance
· Upgrades to existing building
· Additional income for freeholders
· Increase in value of leaseholds
· Minimal disruption through innovative construction techniques
Benefits to the wider community
· Significant increase in new homes
· Preservation of existing buildings, occupants & communities
· Increased housing density with minimal visual impact
· Less demolition & waste
Helping to solve the London Housing Crisis
According to The London Plan, the City’s population is predicted to increase by 100,000 per year by the end of the decade, to satisfy this demand and population growth the Mayor of London’s Strategic Housing Market Assessment (SHMA) has identified the need for 66,000 additional homes per year. However, over the last ten years London has delivered an average of 28,000 new homes per year and between 2018-2019, this figure reached 36,000 – only 55% of the 66,000 needed.
Airspace development is a viable solution to meet this pressing need and has the potential to unlock a huge amount of land across the city creating thousands of much needed new homes.
“Whether it is on top of existing blocks of flats or commercial properties such as shopping centres, warehouses or even car parks, the potential scale of rooftop development is enormous” — Property Week
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