Event Summary
UKREiiF GALLERY + VIDEO | Delivering in Uncertain Times
The last 10 years have brought us wars, political uncertainty at home and abroad, Brexit, and a pandemic. Panellists at Place North’s Wednesday breakfast conference discussed how the sector has delivered amid the chaos and how it will continue to do so in the future.
Delivering in Uncertain Times saw private sector experts run the rule over the last 10 years and analyse how it has changed the way regeneration is brought forward.
The UKREiiF fringe event was sponsored by Brabners, ArbTech, Onward Homes, Leeds College of Building, and Pegasus Group and was held at the Leeds Marriott Hotel.
Scroll down to the bottom of this story for a gallery from the event
Our panel of experts
- Rhian Davitt-Jones, director in CBRE’s regeneration team
- Seb Tibenham, executive director at planning consultancy Pegasus Group
- Rob Loughenbury, managing director of political and strategic communications firm Lexington North
- Tim Heatley, co-founder of developer Capital&Centric
The backdrop
Uncertainty and upheaval characterise the new normal the property and development sector has been trying to adjust to over the last 10 years.
At times it feels as if the wheels of regeneration are barely moving at all and while our unpredictable world has forced the sector to be more cautious in many ways, it has also fostered a more collaborative and creative approach to projects.
A new government elected in 2024 promised change. Many of the interventions it has made for the development industry have been welcomed, but an imminent change in leadership and the party’s plummeting popularity are spooking markets.
Could Greater Manchester Andy Burnham, the favourite to replace Keir Starmer as Prime Minister, steady the ship? And what would his return to Westminster mean for Greater Manchester and the wider North?
The panel agreed that there were few signs of an end to the uncertainty. Credit: PNW
Key takeaways
- It is all about partnership – viability appraisals continue to produce big red numbers. The only way to navigate that is for the public and private sectors to team up. The public sector is required to take risks to unlock sites while the private sector must take a longer-term view on returns. Expect to hear the phrase “patient equity” even more over the next decade.
- Liverpool is one to watch. The city has emerged from the gloom of recent years to make its case as a genuinely investable opportunity. The recently announced £2bn investment fund and the £1.2bn Kings scheme on the waterfront are signs that Liverpool is heading in the right direction.
- The next 10 years will see an even sharper focus on the delivery of affordable homes on brownfield land in town and city centres. While among the most challenged from a viability perspective, these types of developments hit the mark politically and will be the focus of many socially-minded investors.
- Labour’s planning policies have had a positive impact on housing and significantly shortened lead times for residential development across the North in many cases, with many developers and landowners adopting a make-hay-while-the-sun-shines ethos. Attendees voted overwhelmingly for Labour when asked who they would put their cross next to if an election were to be held today.
- Political instability at home – including the ramifications of Liz Truss’s mini-budget – had had the biggest negative impact on the property sector since 2016, according to a poll of delegates. The country’s changing political landscape will likely result in more councils operating without a clear majority or mandate, resulting in slower decision-making. In order to adapt, the development sector must ensure it works closely with new members to understand where they’re coming from.
- Andy Burnham’s route to Westminster is far from straightforward. First he must overcome Reform in the Makerfield by-election before amassing support from the parliamentary Labour Party to challenge Keir Starmer. Success for Burnham on both fronts could be a double-edged sword. While the North would be stronger with a champion installed in 10 Downing Street, the subsequent mayoral by-election could destabilise things locally.
What’s next?
9 June | North East Development Update
18 June | Cumbria Development Update
23 June | M-RES: Midlands Real Estate Summit
Gallery
Click any image to launch gallery
- The panel agreed that there were few signs of an end to the uncertainty. Credit: PNW
