There is shared interest in ensuring that the decline of town centres is reversed and high-streets are regenerated. Investors are increasingly interested in achieving social value through improving the economic, social and environmental well-being of communities. Many owners and developers are leading the way by taking a community-first approach, ensuring that the social impact of development or investment proposals is proactively taken into account at every stage in the life of a scheme. Tools already exist to achieve this, such as early engagement and consultation with communities, the use of section 106 agreements to deliver binding commitments such as affordable workspace, or the use of flexible or turnover leases to support community businesses. Other measures may involve a little more investment of time or resources. In terms of securing the long term viability of real estate assets and the communities within which they are situated, such investment has to be worth making.
We look at this in more depth in our recent EG article, “How investors and developers can benefit from investing in town centres”, published on 17 January 2022.
See here for the article.
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The articles published on this website, current at the dates of publication set out above, are for reference purposes only. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action.