2016 will be the year of increasing public-private partnerships.
Our recent opening of Friars Walk has proven the model as a solution to unlocking retail regeneration. And, if the development pipeline is to continue, the wider sector must learn from ours and others’ success in this area and recognise its ongoing benefits.
With the regionalisation agenda, local authorities have more autonomy, access to land, legislative power and sources of capital to get a development out of the ground. But, they will always require the knowledge and experience of well-established development managers in the private sector.
It is reassuring that other local authorities beginning to follow suit, with joint schemes being brought forward across the country, from Sheffield to Swansea. Yet, with a number of UK high streets still unfit for purpose and unable to keep up with retail demand, it is about time that the whole industry recognises this as the ‘go to’ model for regeneration.
Paul Sargent is CEO and Co-Founder of Queensberry Real Estate: