Key facts
- John Hitchcox, founder and chairman of YOO Group, believes Britain's planning system hinders development.
- He argues the system rewards delay over delivery, impacting the creation of homes and workplaces.
- Hitchcox is involved in the £1.3bn regeneration of Olympia London.
- He advocates for a more supportive environment for investment and entrepreneurship in the UK.
John Hitchcox, founder and chairman of YOO Group, has criticized Britain's planning system, stating it does not adequately reward development and delivery. Hitchcox, who is leading the £1.3bn regeneration of Olympia London, believes the system too often favors delays over the creation of necessary infrastructure and housing.
In an interview, Hitchcox emphasized that Britain requires more homes, investment, and improved workplaces. He argued that to foster growth, the country must support those willing to undertake development. Beyond planning reform, he called for an optimal economic environment that celebrates entrepreneurship and encourages businesses to invest in the UK.
Hitchcox, who started his career renovating small properties in his early twenties, sees property development as more than just buildings; it involves understanding finance, design, marketing, and people. He is proud of building YOO into a globally recognized British brand and of projects like Olympia and The Lakes by YOO, which he considers places that become integral to people's lives.
Despite his criticisms, Hitchcox remains optimistic about London and Britain's future, citing the city's enduring spirit of ambition and the country's creative talent. He believes that with bolder policies welcoming investment and encouraging development, the future holds significant potential.