Placemaking industry delivers ‘wishlist’ of support needed from new government
As the new Labour government sets to work with a sense of urgency, property consultancy, Lambert Smith Hampton (LSH) and placemaking industry body, Revo, have outlined a comprehensive ‘wishlist’ based on their recent ‘Rethinking Retail’ report. The report identifies the following five strategic areas that require government support to drive significant urban renewal over the next five years.
1. Financial Incentives for Development
An overwhelming 72% of respondents intend to plan, fund and/or develop projects within town centres over the next five years. This commitment is higher for public sector respondents (90%) than the private sector (66%). To capitalise on this enthusiasm, targeted financial incentives, grants and longer-term patient funds are essential to facilitate effective regeneration and attract further private investment.
2. Support for Sustainable Infrastructure
With 70% of organisations having developed strategies to mitigate key climate-related impacts, there is a clear need for government-backed initiatives that support sustainable infrastructure. Improvements in public transport networks, identified as crucial by 56% of respondents, should be prioritised to reduce emissions and enhance connectivity.
3. Optimistic Outlook for Policy Changes
With 42% of respondents feeling optimistic about the future of town centres and high streets, and 36% viewing a potential government change positively, there is an opportunity for new policies to align with these optimistic sentiments. Proactive and supportive legislation can help convert this optimism into tangible outcomes.
4. Addressing Investment Barriers
While there is significant enthusiasm for investment in our centres, identifying and removing barriers to development is crucial. Streamlined planning processes, reduced bureaucratic hurdles, strong leadership and governance at the national, regional and local level, and clear, consistent policies can help accelerate development projects.
5. Focus on Community Engagement
Community and stakeholder engagement is key to successful urban renewal. Government initiatives that foster collaboration between local authorities, businesses and residents, and support the preparation of robust visions and regeneration frameworks, will help ensure that future development and infrastructure projects meet the needs and aspirations of the communities they serve.
The LSH/Revo Report not only highlights the potential for a vibrant and sustainable future for UK town centres and high streets but also underscores the essential role of government support in realizing this vision. As the UK navigates the complexities of economic recovery, climate change, planning reforms and social impact, a coordinated effort between the public and private sectors, bolstered by strategic government support, will be pivotal.
