Brownfield Land is officially designated as abandoned or underused industrial and commercial facilities available for reuse. It is sometimes referred to as Previously Developed Land (PDL).
It is reasonable to assume that some brownfield sites will have contamination issues needing to be addressed prior to redevelopment.
Government requirements state that 60% of all new homes should be built on brownfield land. In turn, an Incentive Scheme was adopted to encourage redevelopment. This has come in the form of a tax benefit for the costs of remediation. The May 2001 Finance Act included a provision for companies to claim a tax relief of 150% of the remdiation expenditure on developing contaminated land.
Many of the benefits of brownfield regeneration are evident with the most notable being the reduction in greenfield site use. However, some financially advantageous benefits include development infrastructure such as sewer connections, power, road access and the fact they are generally in more urban areas.