Synergy in Urban Regeneration Partnerships: Property Agents' Perspectives

Abstract

A major justification for urban regeneration partnerships (URPs) is that they provide synergistic benefits for their participants. Some argue that the major beneficiaries will be private-sector agencies. This proposition is examined in the light of evidence from a survey of property-related agencies. The opinions of developers and property consultants on the success of the partnership process in regeneration schemes with a significant property redevelopment component are examined. Many were found to have concerns about the URP model, centring on governance structures, decision-making, cost implications and time-frames. This suggests that synergy benefits may not actually exist. It is concluded that management and decision-making structures in partnerships need to be of greater concern in policy debate than is currently the case.