Millions of pounds of government money set aside for regeneration is going unused, the British Property Federation said this week.

Launching a guide to accessing public funding the BPF said the fragmented system of public funding was barring good regeneration schemes from getting off the ground.

The BPF said: 'Funding regeneration: a guide to maximising public sector grants will simplify the "funding maze" that prevents developers taking full advantage of public funds.'

Ken Dytor, chairman of the BPF's regeneration and development committee, said: ‘It is hard to know what funding is relevant for a proposed development and where to begin looking for this money.'

‘This guide takes you through the basic steps of how to apply successfully for the right public sector funding, it lists the main bodies that offer this financial support and provides an extensive list of funding opportunities that exist currently.

'Public sector funding is rather fragmented, with different initiatives coming from a range of public bodies that have insufficient funding allocations to meet all the competing needs.

‘This means that under-funded, poorly co-ordinated schemes are often oversubscribed, with good quality schemes having to compete for the cash.’

Liz Peace, chief executive of the BPF, said being able to access a range of sources of funding in the current debt-expensive market was a welcome boost for the property industry.

The guide is available from the BPF’s website