No Use Empty reflects on the past financial year 20/21
Coronavirus (COVID-19) continues to have a significant impact on businesses across the construction industry. The Government has been clear that construction work should continue and sites should remain open across the UK.
Initiatives such as No Use Empty are becoming increasingly important. Kent County Council’s award winning empty homes initiative recorded its busiest year on record.
NUE administered loans with a total value of £15.7m
40 loans with a value of £4.5 million were approved in the financial year 20/21 to bring long term empty properties back into use to provide much needed accommodation in the County.
In addition to this a further 20 loans with a value of £11.2 million were approved which will deliver 90 brand new homes in our coastal towns over the next 18-24 months.
Since the initiative launched in 2005, NUE has now provided £50m in short term secured loans (loans are recycled on repayment to support new projects).
Demand for loans has remained strong over the last 12 months and we already have a healthy project pipeline for 2021/22.
NUE continues to support the local Kent economy.