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Accessing private sector finance in urban regeneration: investor and non-investor perspectives

Author

Listed:
  • Stanley McGreal
  • Alastair Adair
  • Jim Berry
  • Bill Deddis
  • Suzanne Hirst

Abstract

This paper is concerned with the role of private sector finance in urban regeneration. The theme is initially explored from a literature perspective examining recent initiatives and current policy directions. The central core of the analysis investigates investment behaviour and draws upon results of two independent survey cohorts namely private sector actors who invest in urban regeneration and those not investing. Motives for holding property investment portfolios and decision-making criteria are analysed and factors facilitating the flow of private sector finance are assessed. It is shown that market factors are the primary influences on decision making with regeneration initiatives of a secondary nature. Although both cohorts identify similar factors as being important in the decision-making process, the perception of the risk/return profile associated with urban regeneration differs significantly. Institutional investors are shown to have much higher entry criteria, with quality of neighbouring environment a major factor deterring investment. In improving the flow of private sector finance into urban regeneration, non-finance based instruments emerge as key considerations.

Suggested Citation

  • Stanley McGreal & Alastair Adair & Jim Berry & Bill Deddis & Suzanne Hirst, 2000. "Accessing private sector finance in urban regeneration: investor and non-investor perspectives," Journal of Property Research, Taylor & Francis Journals, vol. 17(2), pages 109-131, January.
    • Handle: RePEc:taf:jpropr:v:17:y:2000:i:2:p:109-131
    DOI: 10.1080/095999100367949
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    Citations

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    Cited by:

    1. Michael Ball & Laurent Le Ny & Paul J. Maginn, 2003. "Synergy in Urban Regeneration Partnerships: Property Agents' Perspectives," Urban Studies, Urban Studies Journal Limited, vol. 40(11), pages 2239-2253, October.
    2. Jesper Ole Jensen & Jacob Norvig Larsen & Kresten Storgaard, 2011. "Generating private co-investments in area-based urban regeneration: Lessons from Denmark," ERES eres2011_343, European Real Estate Society (ERES).
    3. Xiang Li & Sun Sheng Han & Hao Wu, 2019. "Urban consolidation, power relations, and dilapidated residential redevelopment in Mutoulong, Shenzhen, China," Urban Studies, Urban Studies Journal Limited, vol. 56(13), pages 2802-2819, October.
    4. Yekeun Oh & Sanghyo Lee & Jaejun Kim, 2013. "Characteristics of design change in urban regeneration project in Korea," E3 Journal of Business Management and Economics., E3 Journals, vol. 4(5), pages 105-112.
    5. Ingrid Nappi-Choulet, 2006. "The Role and Behaviour of Commercial Property Investors and Developers in French Urban Regeneration: The Experience of the Paris Region," Urban Studies, Urban Studies Journal Limited, vol. 43(9), pages 1511-1535, August.
    6. Chen, Yawei, 2022. "Financialising urban redevelopment: Transforming Shanghai’s waterfront," Land Use Policy, Elsevier, vol. 112(C).
    7. Doil Kim & Kabsung Kim, 2022. "Financial Support for Neighborhood Regeneration: A Case Study of Korea," Sustainability, MDPI, vol. 14(14), pages 1-17, July.

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