Government data has revealed that the London borough saw 100% of major development applications granted in 2016/2017.
The City of London has seen a huge population surge in recent years, growing 29.6% in the decade 2006 to 2016 and newly highlighted data reveals development here is just as popular.
In its recent campaign to educate investors on the planning permission process in England and Wales, commercial finance brokers Pure Commercial Finance unearthed data which reveals you’re more likely to get planning permission accepted in the City of London than almost anywhere else in England.
In the year ending 31st March 2017 there were 18 places in England where 100% of major development applications were accepted: the City, among more Northern locations such as Copeland, Wigan, and Lincoln. The historic financial district also saw the highest percentage of minor development applications granted (98.53%) last year.
Further research has revealed that despite the number of planning applications in England falling by a quarter over the last decade, the percentage of successful grants has risen from 82% to 88%.
Ben Lloyd, Co-Founder and Managing Director at Pure Commercial Finance, said:
“Commercial property finance is our bread and butter and we help arrange funding for development projects across the country on a daily basis, so we were intrigued to see where these were most likely to get permission and at what rate.
“We are pleased to see a number of planning bodies across the country are keen for the redevelopment and expansion of property on offer in their areas, and are delighted to provide our current and future clients with an insight into this data.
For further insights into the data analysed and to read the full report click here.