With the county’s clear demand for housing, the latest statistics for long-term empty properties shows Kent has 8,729 long-term empty properties, many of which are in a poor condition.
KCC’s No Use Empty scheme offers short-term, secured loans to owners of long-term empty properties and has brought 9,008 empty residential and 37 empty commercial properties back into use by investing £66.8m in recycled loans and leveraging an additional £62.1m in public/private sector funds.
A further 326 new-build projects have been supported of which 245 new homes have been completed, sold and occupied by investing £58.1m worth of recycled loans. This has been achieved by providing short-term, secured interest-bearing loans to developers.
The average loan to a developer by KCC to convert empty premises is £41,000, usually supported by private investment in the region of about £30,000. For those using previously occupied land to build completely new homes, the average KCC loan is about £158,000 per new home.
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View the transcript for this video about No Use Empty
At any point, the scheme can have up to 60 projects in various stages of completion, whether that be the initial application for funding being assessed; loans granted and build underway; or finishing touches being completed ready to make a house their home.
On a recent visit to an ongoing project in Ramsgate, KCC’s Cabinet Member for Environment, Coastal Regeneration and Special Projects, Paul King, dropped in to see the progress made on a build which has now nearly completed with people already waiting to move in.
Ryan Fitzpatrick transformed a redundant industrial workshop into seven stunning two-bed apartments full of character and charm in Monkton Place, Ramsgate, with enviable panoramic views from the penthouse apartment. Some of the original features were preserved in the latest regeneration project funded by No Use Empty.
Mr Fitzpatrick first spotted the empty premises in an agent’s window and moved quickly to make an offer, only to find someone else had already done so. He stayed in close contact with the agent in case the sale fell through, and after the other buyer withdrew, he was able to buy the property himself. His background as a building contractor and developer proved invaluable. His expertise meant he could confidently take on the project despite the structural challenges, knowing exactly how to address and resolve them.
“No Use Empty creates jobs, revitalises communities and reduces crime and anti-social behaviour linked to derelict buildings.”
KCC’s Cabinet Member for Environment, Coastal Regeneration and Special Projects, Paul King, said: “Developers and landlords currently face barriers to affordable finance, discouraging investment in empty properties. Our No Use Empty scheme removes that obstacle by providing secure repayable loans to people with a vision to improve an area at no cost to the council taxpayer.
“Beyond housing, No Use Empty creates jobs, revitalises communities and reduces crime and anti-social behaviour linked to derelict buildings.
“That is why this works. It is cost-neutral to the county council and generates a return on investment through fees, interest and increased council tax receipts. It tackles market failure, but the work of our dedicated and hard-working team shows we are ready to step in a support communities to bounce back and recover.
“My message to people who see an empty property that could do with some tender loving care is to bring it to the attention of their local district and borough council. They have the links to refer developers interested in turning buildings into homes to us so we can assess whether they are suitable candidates for a No Use Empty loan.”
Local district and borough councils responsible for housing are able to refer developers to KCC’s No Use Empty scheme to see if they are eligible for the loan scheme to help them become homes.
Speaking of his experience of the scheme, Mr Fitzpatrick said: “We approached Kent County Council for their No Use Empty scheme loan which was a fantastic facility we used from the start and that’s helped us to fund the purchase and the build of this.
“Since then, we have taken half the building down, put it back up again, redid most of the structure, completely fitted it out internally and now we have seven really nice apartments ready to go on the rental market.”
A short walk away from Monkton Place is a former garage, now derelict, awaiting renovation. Another project picked up by Mr Fitzpatrick.
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