Local authorities that are prepared to not only support but help finance retail-led mixed-use schemes are vital to the prospect of more schemes being developed in the UK, according to developer Queensberry’s Chief Executive Paul Sargent.
Queensberry worked with the local council in Newport to open Friars Walk last year and it recently won the mandate for Barnsley Markets, another scheme which has suffered a succession of delays.
Paul Sargent, CEO of Queensberry said:
“There is no doubt that it is absolutely essential to work with local authorities as partners, which is why we’re here at MIPIM. I think the key is for a scheme developed with financial input from a local authority not only to be delivered but upon sale to create a return on investment. That would really open the door to more schemes.”
Source: MIPIM News, March 2016.