26 February 2009
Here is another from a local government colleague:
The best example I can give from a regeneration perspective was a project I was involved in a few years ago in [London]. We paid a relatively small amount (c £5k) for a high level development appraisal of the potential for 3 industrial sites to be internally reconfigured following the construction of a new access road. The sites owners were exceptionally cautious and some completely reluctant about making any changes but we were able to show them through the development appraisal that by undertaking this reconfiguration, they could make better use of their land and also release some pockets for further development (there was a market for this at the time!) The small amount of investment we put in through SRB resulted in significant new floorspace and an increase of jobs, plus the reduction of traffic from neighbouring residential roads. The site owners paid for all the work since they could see the financial benefit. Without the study, the site owners would have continued to under use their sites and keep them within bad neighbour type uses.