Welcome to the latest publication of our Real Estate & Projects Newsletter and accompanying Vlog.
This month we focus on:
- The Spending Review 2025 – Newsletter Bulletin and Vlog items
- The London plan Consultation
- Some of our takeaways from this year’s UKREiiF – including a long-form interview with Jon Corris
- The publication of the new Shared Ownership Code
- Roof garden storeys and the Building Safety Act
We hope you continue to enjoy the content and find it useful.
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Featured articles
Spending Review 2025 sees huge renewal for housing sector investment in the UK
Last week, The Chancellor Rachel Reeves delivered her report on the outcome of the 2025 Spending Review (SR25). SR25 sets out planned day-to-day spending totals for all government departments for the years from 2026/27 to 2028/29, and investment spending plans for a further year (from 2026/27 to 2029/30).
11 June 2025 is being hailed as a hugely significant day for the housing sector, given the various announcements contained within SR25, including:
- Delivery on the commitment to build 1.5 million homes in England (in this Parliament) through a new 10-year Affordable Homes Programme – investing £39 billion over 10 years from 2026-27 to 2035-36.
- A 10-year social housing rent settlement from 2026 (CPI + 1%).
- The implementation of a rent convergence programme for social rents – subject to formal consultation.
These items, and more, are detailed in our bulletin (Spending Review marks a big renewal for housing in the UK), and the issues are also presented by Ben Halsey in our Vlog this month.
If you would like to discuss the outcomes of SR25 with us further, please get in touch.
Jonathan Corris
Partner
020 7880 4305
Triya Maicha
Partner
020 7065 1805
London Plan consultation to close shortly
Our detailed article (New London Plan Consultation is now live) announced the consultation and discusses a few of the key living sector themes, including those for built to rent (and single family housing) policies.
Set your alarm clocks! There is still a brief window to respond to the consultation, which closes, very specifically, at11:59pm on Sunday 22 June 2025.
If you would like to discuss the matters raised in the consultation further, please get in touch.
Hannah Langford
Partner
020 7880 4450
Ben Halsey
Knowledge Development Lawyer
020 7065 1898
Takeaways from this year’s UKREiiF - Data information
Since the publication of our last REP Newsletter and Vlog, the UK’s Real Estate Investment and Infrastructure Forum (UKREiiF) has taken place. In this month’s Vlog, our Joint Head of the Devonshires Real Estate & Projects team, Jonathan Corris provides our editor, David Bullock, with some of the key takeaways from the forum, including a panel session which Jon spoke at.
Jon mentions a number of initiatives that are likely to be seen to continue to emerge within the affordable housing sector over the year ahead, including formal co-operation between parties operating within the sector. One of Jon’s top tips, for those looking to partner up to deliver on their objectives, is to be fully conversant of your stock profile and to ensure that data that is held across a portfolio is up to date and accurate. We will be discussing this theme in future editions of the REP Newsletter and Vlog.
For now, if you would like to discuss the matters raised by Jon in his interview, please get in touch.
Jonathan Corris
Partner
020 7880 4305
The publication of a new Shared Ownership Code
A new Shared Ownership Code (SO Code) has been created by the Shared Ownership Council. The Council is backed by 27 housing providers and financial institutions, alongside housing associations and shared ownership specialists. Social landlords can now, voluntarily, sign up to the Code. The Code, which is similar to the other Codes used in the wider new-build arena, has been designed in an attempt to standardise the shared ownership offering in the UK and to raise standards. Our detailed article (Shared Ownership Council creates new Shared Ownership Code) discusses the new Code and what this means for Shared Ownership providers in more detail. We are actively developing a checklist tool for providers to use to ensuring that they undertake Shared Ownership in compliance with the Code. If you would like to discuss this, or any other aspect with us, please get in touch.
Rebecca Brady
Partner
020 7065 1838
Stavrina Tofallis
Partner
020 7880 4420
Roof garden storeys and Building Safety Act classification
Please read our bulletin (Roof garden storeys: new MHCLG guidance reiterates that FTT is wrong) regarding MHCLG’s new guidance on the criteria for being a higher-risk building.
The new guidance maintains the Government’s previous position that roof gardens should not be considered a storey when determining whether a building is a higher-risk building (under section 120D of the Building Act 1984 and section 65 of the Building Safety Act 2022).
We understand that managing building safety risks, in the context of changing (and complex) legislation, remains hugely challenging. Our experts can help you - please do reach out if you would like to discuss any issues relating to Building Safety, either in the context of a development transaction or in relation to an existing building.
William O’Brien
Senior Associate
020 7880 4269
Ben Halsey
Knowledge Development Lawyer
020 7065 1898
Watch out in the coming editions for:
- Following on from SR25, our take on the Government’s:
- 10-year infrastructure plan including how this will impact on the housing sector; and
- the Rent convergence consultation
- Following on from Jon Corris’ interview, a session on auditing your stock and preparing your data for transactions.
- Talking to our new Head of Innovation, Phil Westwood and other LawTech experts on the current AI landscape in the Real Estate and Living sectors.
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020 7628 7576