Last week the British Property Federation, or the BPF as they are more commonly known, announced plans to work with Local Authorities to help build successful partnership-led regeneration and development projects.

Public private partnerships are not new.     Often a Local Authority has the land and the vision but needs third party expertise (and resource) to unlock complex projects.

When they work well they can be hugely successful leading to fair returns for the developer and legacy projects and opportunities for the authority.

However many are put off by the often glacial pace in which they proceed and the risk and cost of the dreaded “procurement rules!”

Whether its a re-imagined high street or much need homes, the opportunities for a successful public private partnership are huge and ultimately built on trust.

The intervention of the BPF to select three or four local authorities (or similar bodies) during 2024 to pilot a new approach to regeneration will be welcomed by all involved in the regeneration industry.