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Local asset backed vehicles: The potential for exponential growth as the delivery vehicle of choice for physical regeneration

Author

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  • Grace, George
  • Ludiman, Andrew M. W.

Abstract

Nearly half the Regional Development Agencies (RDAs) in England have now adopted the use of local asset backed vehicles (LABVs) as a means to manage and/or develop their property holdings. In doing so, they have collectively invested over £400m of property in 50/50 partnerships with leading private sector regeneration experts such as Igloo Regeneration Ltd. Given the RDAs property holdings represent less than half a per cent of those held by local authorities (£1bn compared with £230bn), the potential impact on the regeneration sector if local authorities embraced this new approach to regeneration could be enormous in terms of leveraging in private sector finance, heralding a new culture of genuine partnership between the public and private sectors and catalysing a paradigm shift in the quantum and quality of physical regeneration in the UK.

Suggested Citation

  • Grace, George & Ludiman, Andrew M. W., 2008. "Local asset backed vehicles: The potential for exponential growth as the delivery vehicle of choice for physical regeneration," Journal of Urban Regeneration and Renewal, Henry Stewart Publications, vol. 1(4), pages 341-353, June.
    • Handle: RePEc:aza:jurr00:y:2008:v:1:i:4:p:341-353
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    More about this item

    Keywords

    Local asset backed vehicles; city development companies; joint ventures; public private partnerships; regeneration funding and delivery; local housing companies;
    All these keywords.

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z33 - Other Special Topics - - Tourism Economics - - - Marketing and Finance

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