Property industry discusses importance of Public-Private sector partnerships in economic recovery

Joint ventures and property partnerships have the scope to play a vital part in unlocking regeneration and development opportunities in the UK, an event sponsored by the British Property Federation, Local Government Association and Local Partnerships will hear today.

Delegates attending ‘Creating Successful Property Partnerships and Joint Ventures’, held in association with Pinsent Masons and Morgan Sindall Investments, will examine how the property industry and local government can work together to deliver development and infrastructure as the UK’s economy gradually recovers. Workshop sessions will examine how future opportunities can be identified and taken forward successfully, and the different forms that a partnership can take.

Speakers will discuss how successful partnerships can unlock resources and maximise government funds to deliver sustainable development, looking at case studies such as the Making Assets Count project in Cambridgeshire and Derby City Council’s £10m Regeneration Fund. The event will encourage creative and new ways to bring about public-private sector partnerships, and will mark the beginning of an ongoing forum for discussion between the two sectors.

Ahead of the event, Liz Peace, Chief Executive of the British Property Federation, commented:

“The benefits of public-private sector partnerships are not just financial, the advantages that come from pooled knowledge and expertise is huge, and they provide the opportunity for organisations to be truly innovative. As the economy continues on its fragile path to recovery and more and more development opportunities arise, it is absolutely essential that both the property industry and local government are open to participating in these sorts of ventures, and that they are equipped with the right skills to work together and make the most of them.”

Rob Hann, Director Legal Services at Local Partnerships LLP, added:

“All good public sector bodies use their property portfolio effectively and efficiently. But, what we also know is that it is always possible to unlock resources from new and good ideas. The investment that can flow can trigger growth, combat unemployment and enhance local communities.

“We also know that the private sector working with a confident public sector gives great results that are sustainable. Events like this help fuel ideas and foster stronger links between the sectors. I know for everyone there this will be a really worthwhile event brimming with expertise.”

Delegates will hear Robert Evans, Partner at Argent say:

“Successful projects are characterised by strong partnerships with public sector landowners and agencies. In our experience, they work best when interests are aligned and the ingredients of risk and reward have been combined and balanced with mutual trust. One size absolutely does not fit all and the public and private sectors both need to be creative about how we best bring together land, skills and money.”

Cllr Mike Jones, Chairman of the LGA’s Environment and Housing Board, added:

“Unlocking economic growth and delivering jobs is a priority in helping to transform our towns and cities. With growth returning to the economy and both development and regeneration now firmly back on the agenda, the key is for developers, councils and local communities is to work in partnership by engaging at an early stage in the development plan. A strong partnership between the public and private sectors is the way forward. We believe this shared approach should deliver the affordable, high quality housing our communities need.”