Commenting on the Government’s strategy to save around £3.6bn over the next two decades by reducing its estate, Steve Gell, Associate Partner, Carter Jonas said: “Conservative estimates suggest that the public sector owns more than one third of all developable sites in the UK, most of which are located in towns and cities which are crying out for modernisation and change. This Government drive to rationalise their own estate provides considerable opportunities for much needed commercial and residential development and in the case of London boroughs, could unlock some of the most desirable development/regeneration opportunities in central London.
“More broadly, releasing some of these ageing public sector buildings can be crucial to initiating regeneration for failing town centres. Local Authorities are now taking more responsibility in supporting their own town centres often releasing their own sites to create new growth and create wider change.
“Achieving success for large scale estate rationalisation is incredibly complex but there are already examples outside of London where this has worked well. Examples which have delivered modern and more efficient property for public services and more respectable working conditions for civil servants whilst at the same time releasing land and buildings for new residential and mixed-use schemes and generating employment opportunities. After all, any Government estate change should be delivering improved space and service improvement as a priority.
“As always, achieving these goals will require more effective public-private sector partnerships which the Government will also need to address but getting this right can bring long term benefits for generations to come.”