The introduction of the Building Safety Act in 2022 was significant for the UK. The legislation aims to improve safety, especially for high risk buildings (HRBs). However, there have been some big challenges since then. Critics have been vocal about how the new process causes big delays. It’s fantastic news then that a project in London got approval in “record” time. We want to have a look here, then if you want some assistance with guaranteed rent in Hackney, you can talk to us.

A new process

The big change in the Building Safety Act 2022 is the introduction of 3 gateways. Projects must get approval at each of them to progress. Gateway 2 is the trickiest because it occurs before you can begin construction. The idea is to ensure that the design is compliant with building regulations and fire safety standards. To do this, there is a full check of the plans, including scrutiny of the materials and method of construction.

As we said, the new process made some big problems. In fact, earlier this year it was claimed that the Gateway 2 rejection rate was at a massive 75%. Many projects did not get approval because the submissions were incorrect or incomplete. As a result, there were big delays. Even projects that got permission had to deal with a delay as inspections were working through a massive backlog of applications.

Good news

In 2020 Morro got permission for plans to redevelop a former builders’ yard at Kingsland Road in Haggerston, Hackney. They then did a revision of the proposals and got a green light again at the start of 2025. The proposals will create a new co-living development with 150 rooms. It will also include workspace, a roof terrace, and a gym. Speak to us if you want to learn about guaranteed rent in Hackney.

With planning permission in place, Morro had to submit a Gateway 2 application. The project was deemed a high risk building (HRB) because it’s a busy urban area and there are neighbouring buildings close by. Luckily, the project got Gateway 2 approval recently. Impressively, it was just 13 weeks after submission. It’s an impressive turnaround, and shows how quickly plans can get a green light if everything falls into place properly.

The key thing to note about the fast approval here is the importance of early engagement and effective communication. Design teams were quick to begin working with key stakeholders like the local fire authority and Building Safety Regulator. As a result, it was easier to showcase that the plans were appropriate in terms of fire safety and sustainability.

News of the rapid Gateway 2 approval is very positive for investors, developers, architects, and the construction industry. It’s a sign that things are improving and the long delays could be a thing of the past. So, parties can have more confidence.

Want to explore the world of guaranteed rent in Hackney?

Investors have a lot to think about when they plan different projects, including developments and investing in existing residential assets. One thing to look at is rent rates, demand, and the risk of issues like voids. The latter can be significant, potentially leading to cash flow problems and losses.

If you do have concerns about voids and losing out, we have the ideal service for you. We can offer guaranteed rent in Hackney and other parts of London. Working with local councils, we can provide financial security and stability. You won’t need to worry about finding tenants at all; the council will do all of that.

If you want to learn more, contact us.