BCSC: reality check needed over mixed use in the UK
Published: 16 January, 2012
Mixed-use schemes should not always be the default answer to town centre regeneration, according to industry experts at a debate organised by BCSC and the Investment Property Forum (IPF).
The event highlighted the need for developers and local authorities to show an increased understanding of an area in order to deliver retail space appropriate for the local market.
Speaking at the seminar, BCSC president Peter Drummond said that the current hiatus in development was the time to take stock and establish what will make future schemes viable for both retailers and landlords.
Drummond predicted that a more flexible approach from local authorities would be needed in the future – pointing out that a mix of leisure, commercial and residential uses was ingrained in the UK development model, but that the driving force had become regulatory not market.
He said: “Mixed use remains a valid model if the glove fits, but in the current climate especially we need to think practically about where new space is coming from. Local authorities are increasingly under pressure to attract investment, which means cooperating with developers about what can realistically be delivered.”
