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State-led financial support in property development to support ‘Levelling Up’ in England
Journal of Urban Regeneration and Renewal,
17
(4),
431-439
(2024)
Abstract
The purpose of the paper is to explore recent practical experiences of state financial interventions in property-led regeneration in England. It considers the policy context for property regeneration through ‘Levelling Up’, explains the reasons for market failure and why state support is needed, and then outlines the various models/methods of financial state support to address such failures. It provides a commentary on the pros and cons of the various models, citing examples where appropriate, and concludes by highlighting some of the current challenges and opportunities facing funding and financing of regeneration activity.
Keywords: regeneration; levelling up; funding; property; development; intervention; market failure
The full article is available to subscribers to the journal.
Author's Biography
Stephen Miles is a dual qualified Chartered Surveyor and Town Planner with over 25 years’ experience as a property professional specialising in urban regeneration. He is a Partner in Cushman & Wakefield’s Development Team, responsible for leading the Northern Development Team. Having started his career in London and the southeast, Stephen has spent the last 15 years advising on regeneration projects in regional cities across the North. Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries.
