Unlocking the adaptive re-use potential of industrial heritage (NP 235) [PCR 2015] - AWARD

In the Levelling-up and Regeneration Act 2023 (LURA), a power was introduced to allow for the assessment of compensation for the value of land taken by compulsory purchase to ignore values attributable to the prospect of planning permission ('hope value') in certain circumstances. Directions to remove hope value can facilitate the acquisition of land at existing use value for provision of housing, development or regeneration schemes where they include public sector-led affordable or social housing, health or educat...