With the ongoing challenges of
suitable land, funding, expertise and palatable infrastructure
costs still facing the private residential market, the need for
more innovation and thinking around the longer term partnership and
engagement model has never been greater.
Investment from the private sector in order to
catalyse economic recovery and the housing market is widely debated
but the responsibility also lies with other parties – residential
development relies on the release of land from local authorities or
private land owners and can no longer promise short term gain.
Developers and land owners are coming together to fund and deliver
residential and mixed use developments through a model which
creates land value over time and profits future development.
The creation of Local Asset Backed Vehicles
(LABV) has seen long term partnerships developed, similar to those
which Capita Symonds is engaged in with local authorities across
the UK – partnerships which are based on transparency, shared
objectives and longevity in order to secure investment, mitigate
planning and legislative barriers; and deliver schemes which
realise local vision whilst maximising return for future
investment.
Capita Symonds is currently supporting one
such LABV in Lancashire where Barnfield Construction and Burnley
Borough Council are working together to make the borough a better
place to live, learn, work, play and visit.