In response to the Secretary of State for Housing, Communities and Local Government’s approval of Marks & Spencer’s plans to regenerate its Oxford Street store, London Property Alliance Chief Executive said:
“I hope with this decision we can finally end the uncertainty which has acted as a drag on investment, damaging growth and the jobs that go with it. It is disappointing it has taken so long, which sends a negative message to those willing to invest in London and beyond. The Government now needs to ensure that planning reform supports sustainable redevelopment, and whilst giving stronger guidance to local councils, needs to set itself strict timelines to deal with contentious decisions once it intervenes to prevent a repeat of this long running saga.
“The fact that the property industry has been waiting for the outcome of this case for clarity is clearly a failure of national policy. The application itself had unfortunately become a lightning rod for the ‘retrofit v redevelopment’ debate, but we need to recognise that a more nuanced approach is needed and policy must allow and support a range of interventions on a case-by-case basis.”
