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Urban Regeneration Market - UK 2010-2014
AMA Research, April 2010, Pages: 91
The 3rd Edition of the report "Urban Regeneration Market – UK 2010-2014" should be of particular interest to companies at all levels of the construction supply chain.
This report specifically focuses on key market trends, Government and private investment in regeneration, the major affordable housing & regeneration programmes of the Housing & Communities Agency (HCA), future prospects for the regeneration sector post 2011 and major contractors, house-builders and developers involved in regeneration work.
The report illustrates how the Government’s commitment to housing & regeneration programmes through the HCA has helped to underpin growth in the market over the past few years. In particular, we review Government and private investment in regeneration, the major affordable housing & regeneration programmes of the HCA, future prospects for the regeneration sector post 2011 and major contractors, house-builders and developers involved in regeneration work.
Key areas in the report:
- Detailed assessment of major sectors within urban regeneration - including affordable housing, retail and commercial development, Estate Regeneration.
- Analysis of Government funding for regeneration.
- In depth analysis of affordable housing sector - a key force in the regeneration sector.
- Analysis of top 20 regeneration schemes across the UK, together with estimated investment involved, key developers and stakeholders and scheme details.
- Review of key contractors, developers, financiers and house-builders involved in the urban regeneration.
- Review of major influences affecting urban regeneration market including planning issues, land values, PFI and PPP and brown-field land.
Areas of particular interest:
- Analysis of current government initiatives in regeneration
- Analysis of private sector funding for regeneration including alternative models of financing schemes
- Impact of the General Election in 2010 on UK regeneration policy
- Analysis of Party policy on housing, planning and regeneration
- Future impact of a slowdown in public sector investment in 2011 on housing & regeneration budgets.
- Leading companies mentioned in the report include:
- Carillion, Denne Construction, Galliford Try Partnerships, Gleeson Regeneration & Homes, Higgins Construction, John Laing Partnership, Kier Regeneration, Laing O’Rourke, Leadbitter, Mansell Partnership Housing, Midas Group, Osborne, Rydon, The Durkan Group, Wates, Willmott Dixon Regeneration.
Key areas covered in the report include:
URBAN REGENERATION SECTOR IN THE UK
- Overview & size of the urban regeneration sector – market values, major projects.
- Current Government initiatives in regeneration.
- Government housing & regeneration targets.
- Current housing & regeneration programmes in the UK – Major HCA programmes (Kick Start, Housing Market Renewal, Local Authority New Build, Community Infrastructure Fund, etc), major schemes etc.
- Regeneration Sectors – Affordable Housing, Retail, Commercial Development, Estate Regeneration, Eco-Towns, New Deal for Communities etc.
FUNDING AND INVESTMENT OF REGENERATION PROJECTS
- Public Sector Funding for Regeneration – Major Public Sector Funds.
- HCA Funding Programmes – Available funds to 2011, Allocation of funds after 2011.
- 2009 & 2010 Budgets – key issues, impact on sector prospects.
- Community Infrastructure Levy.
- Private Sector Funding – Alternative models of financing regeneration, Tax Increment Financing.
- Leading Financiers, Investors and Developers in Regeneration - review of major players, schemes, portfolios etc.
DELIVERY OF REGENERATION PROJECTS IN THE UK
- HCA and the ‘Single Conversation’.
- Regional Development Agencies, Urban Regeneration Companies.
- Major Urban Regeneration Projects in the UK - key schemes, values, players.
- 2012 Olympics & Regeneration in Legacy.
- Key Regeneration schemes within the Thames Gateway.
ISSUES AFFECTING THE URBAN REGENERATION SECTOR
- Planning & Party Policy on Planning.
- Impact of the recession on the UK Regeneration Sector, - on Housing, Commercial Property, public & private sector regeneration players.
- Land Values, PFI/PPP, Brown-field land issues.
- Future prospects for Urban Regeneration – post Election and 2011 onwards. Party policies on Regeneration & Housing.
CONSTRUCTION MARKET SUPPLY IN THE REGENERATION SECTOR
- Leading Contractors in the Regeneration Sector – key players, profiles.
- HCA Delivery Partners – Panel 2010-2013 – Northern, Central & Southern Clusters – key players within regions.
- Leading House-builders in the regeneration & social housing sector.
- Leading Housing Associations in the Regeneration sector.
2. EXECUTIVE SUMMARY AND FUTURE PROSPECTS
3. THE URBAN REGENERATION SECTOR IN THE UK
3.1 OVERVIEW AND SIZE OF THE URBAN REGENERATION SECTOR
3.2 REGENERATION POLICY IN THE UK
3.2.1 Current Government Initiatives in Regeneration
3.3 GOVERNMENT HOUSING & REGENERATION TARGETS
3.4 CURRENT HOUSING & REGENERATION PROGRAMMES IN THE UK
3.4.1 National Affordable Housing Programme (NAHP)
3.4.2 Kick Start
3.4.3 Housing Market Renewal (HMR)
3.4.4 Local Authority New Build
3.4.5 Community Infrastructure Fund
3.5 AFFORDABLE HOUSING AND REGENERATION
3.6 RETAIL REGENERATION
3.7 COMMERCIAL & INDUSTRIAL REGENERATION
3.8 ESTATE REGENERATION
3.8.1 New Deal for Communities
4. FUNDING AND INVESTMENT OF REGENERATION PROJECTS
4.1 PUBLIC SECTOR FUNDING FOR REGENERATION
4.1.1 Major Public Sector Funds
4.2 HCA FUNDING PROGRAMMES
4.2.1 Available HCA funds to 2011
4.2.2 Allocations of HCA funds after 2011
4.2.3 2009 & 2010 Budget
4.2.4 Community Infrastructure Levy
4.3 PRIVATE SECTOR FUNDING
4.3.1 Alternative Models for financing Regeneration
4.3.2 Tax Increment Financing (TIF)
4.3.3 Co-ordination of Sector Capital Spending Programmes with Regeneration
4.3.4 Equity Sharing & Public Sector Guarantees
4.4 LEADING FINANCIERS, INVESTORS & DEVELOPERS IN REGENERATION
5. DELIVERY OF REGENERATION PROJECTS IN THE UK
5.1 THE HOMES & COMMUNITIES AGENCY (HCA)
5.1.1 The ‘Single Conversation’
5.2 REGIONAL DEVELOPMENT AGENCIES
5.3 URBAN REGENERATION COMPANIES
5.4 MAJOR URBAN REGENERATION PROJECTS IN THE UK
5.4.1 2012 Olympics
5.4.2 Key Regeneration Schemes within the Thames Gateway
6. ISSUES AFFECTING THE URBAN REGENERATION SECTOR
6.1.1 Party Policy on Planning
6.2 IMPACT OF THE RECESSION ON THE UK REGENERATION SECTOR
6.2.1 Impact on Housing
6.2.2 Impact on Commercial Property
6.2.3 Impact on key public and private sector regeneration players
6.3 LAND VALUES
6.4 PARTY POLICY ON REGENERATION
6.6 BROWNFIELD LAND
7. CONSTRUCTION MARKET SUPPLY IN THE REGENERATION SECTOR
7.1 LEADING CONTRACTORS IN THE REGENERATION SECTOR
7.1.2 HCA Delivery Partners
7.2 KEY CONTRACTOR PROFILES
7.3 LEADING HOUSE-BUILDERS IN THE REGENERATION AND SOCIAL HOUSING SECTOR
APPENDIX 1: LEADING HOUSING ASSOCIATIONS IN THE REGENERATION SECTOR
TABLE 1: TOP 10 HOUSING REGENERATION SCHEMES IN THE UK BY CAPITAL VALUE AND TOTAL NUMBER OF HOUSING UNITS 9
TABLE 2: OVERVIEW OF GOVERNMENT POLICY ON REGENERATION 1980-PRESENT (STRATEGY, SOCIAL, ECONOMIC AND PHYSICAL CONTEXT) 14
TABLE 3: ECO-TOWNS – FINANCIAL ALLOCATIONS TO KEY LOCATIONS 2009 – 2011 (£M) 16
TABLE 4: ECO-TOWNS – EXPECTED TIMESCALE FOR FIRST WAVE APPLICATIONS 17
CHART 5: NAHP – FINANCIAL ALLOCATION BY REGION (% SHARE) 19
TABLE 6: KICK-START ROUNDS 1&2 – FINANCIAL ALLOCATIONS (£M) & NO. NEW BUILD UNITS BY REGION 21
TABLE 7: HOUSING MARKET RENEWAL FUND – PATHFINDERS, ALLOCATIONS BY REGION (£M) AND NO. OF HOUSING UNITS 22
TABLE 8: LANB PROGRAMME:- FUNDING FOR ROUNDS 1 & 2/NO. NEW BUILD UNITS BY ROUND 23
TABLE 9: HOUSE BUILDING COMPLETIONS BY TENURE 2007-2014 – UK (‘000 DWELLINGS) 25
TABLE 10: TOP RETAIL-LED REGENERATION SCHEMES IN THE UK – CAPITAL VALUE, SIZE, MAIN DEVELOPER, COMPLETION 28
TABLE 11: TOP COMMERCIAL-LED REGENERATION SCHEMES IN THE UK – CAPITAL VALUE, SIZE, MAIN DEVELOPER, COMPLETION 29
CHART 12: NEW DEAL FOR COMMUNITIES – FUNDING ALLOCATIONS BY FUNCTION (HEALTH, EDUCATION, HOUSING ETC). 1999 - 2008 (% SHARE) 31
TABLE 13: MAJOR PUBLIC SECTOR FUNDS & GRANTS FOR REGENERATION 2009-10 35
CHART 14: HCA FUNDING STREAMS – FINANCIAL ALLOCATION BY PROGRAMME 2008-2011 (£BILLION) 36
TABLE 15: PROGRESS OF HCA MAJOR FUNDING PROGRAMMES 2008-2011 37
TABLE 16: LEADING FINANCIERS, DEVELOPERS AND INVESTORS IN REGENERATION – KEY SCHEMES, PROFILES AND VALUES 45
TABLE 17: RDA ALLOCATIONS BY REGION 2008-2011 51
TABLE 18: TOP 20 URBAN REGENERATION SCHEMES IN THE UK BY CAPITAL VALUE, TIMESCALE AND TYPE OF DEVELOPMENT – 2009-10 55
TABLE 19: THAMES GATEWAY – KEY RESIDENTIAL SCHEMES – BY SIZE, DELIVERY STATUS AND DEVELOPER 62
TABLE 20: LAND VALUES (URBAN & GREENFIELD) 2008 - 2009 - % CHANGE BY REGION 68
TABLE 21: PARTY POLICY ON HOUSING & REGENERATION – REVIEW OF KEY ISSUES 70
TABLE 22: PFI – ALLOCATIONS TO THE PROGRAMME BY ROUND (£M) 71
TABLE 23: HOUSING PFI ROUND 6 – FINANCIAL ALLOCATIONS BY REGION (%) 72
TABLE 24: HCA DELIVERY PARTNER PANEL 2010 – 2013 (CONTRACTORS AND HOUSE-BUILDERS) 78
TABLE 25: LEADING HOUSE-BUILDERS IN THE REGENERATION SECTOR 87
TABLE 26: LEADING HOUSING ASSOCIATIONS IN THE REGENERATION SECTOR 89
Over the past decade, significant progress has been made in the regeneration of many areas of the UK with many cities and run down urban areas benefiting from a buoyant economy and extensive public sector investment. Around £6.5bn has been earmarked to be spent between 2009 and 2011 to promote the growth and regeneration of towns, cities and communities. Housing and regeneration is now moving further up the political agenda, which will have considerable implications for the regeneration sector. The affordable housing market has continued to evolve and will drive activity in the regeneration sector, with Government emphasis now firmly on building ‘more affordable, more sustainable new homes’, reinforced by it’s commitment to build three million new homes by 2020.
Going forward, the affordable housing sector is likely to emerge from the recession as a more significant force in the regeneration sector. Of the top 20 urban regeneration schemes currently taking place in the UK, over 126,000 new homes are being developed, of which around 33,950 or 27% are affordable, with the largest schemes located in London and the South East where a number of residential-led schemes are planned reflecting the Government’s drive for growth in these areas.
This report is the 2nd Edition of our review of the Urban Regeneration sector in the UK and illustrates how the Government’s commitment to housing & regeneration programmes through the Homes and Communities Agency has helped to underpin growth in the market over the past few years. In particular, we review Government and private investment in regeneration, the major affordable housing & regeneration programmes of the HCA, future prospects for the regeneration sector post 2011 and major contractors, house-builders and developers involved in regeneration work.
The main emphasis of this edition of the report though is the future impact of a slowdown in public sector investment in 2011 as a result of the budget deficit and how this will affect regeneration development. In addition, the impending general election in 2010 will also be a potential source of change for UK regeneration policy, whichever party is elected. We review in detail the outlook for the sector under a Conservative government, should they be elected.
Analysis of market developments has been based upon both quantitative and qualitative assessments of both primary and secondary source data. Interpretation of relevant data has been undertaken to explore and support trends within the urban regeneration market and to provide a basis for forecasts of future prospects.