Press Releases

22 Jan 2024

BPF launch pilot to support local partnership-led regeneration projects

The British Property Federation (BPF) has today announced plans to work with local authorities to help build successful partnership-led regeneration and development projects.

 

The BPF represents the largest investors and developers in the UK, many with significant experience of working with the public sector to deliver transformational building and regeneration projects. In recent years, the BPF has worked with the Local Government Association and other stakeholders to understand the components of successful public private partnerships and wants to share these insights. To this end, the BPF is inviting expressions of interest from local authorities and similar public bodies who have ambitious regeneration or development plans and want an early-stage discussion with private sector colleagues on the best way to build effective public private partnerships.

 

Partnerships can be difficult to deliver but present huge opportunities to combine resources, expertise and powers in a way that the public or private sector can not do alone. In a challenging financial climate for local authorities they can provide the capital investment that would otherwise be unavailable, correct market failure and unlock commercial viability, support long-term recovery and growth and improve cross-sectoral relationships. All of these are crucial in an environment where local authorities are attempting to regenerate and reimagine high streets and urban centres, deliver the new homes the UK requires, and attract and retain key businesses and industrial sectors to promote local-led economic growth and opportunity.

 

The BPF is hoping to work with three or four local authorities or similar bodies over 2024 and will then review the impact of the pilot. The focus will be on places that have ambition but may lack experience and who want to test their PPP strategy before progressing too far.

 

The pilot is being led by the BPF’s Development Committee which comprises some of the UK’s leading investors, property companies, developers and real estate advisers.

 

Patricia Brown, Vice-Chair of the BPF Development Committee said:

“The British Property Federation and its members are firm believers in the power of partnership, one that leverages the collective energy, skills and knowledge of both the public and private sectors. This is why we want to share our insights and experience to help support great partnership-led regeneration.”

 

Matt Sampson, Former Chair of the BPF Development Committee and Regeneration Director at The Crown Estate said:

“Building successful public private partnerships is difficult at the best of times but in the current economic climate, and given the impact of the climate crisis on new development, the need for business and local authorities to work creatively and constructively together is more important than ever.”

 

More information on the pilot can be found here.

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