17th June 1998

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The University of Ulster will today make public research into the future and role of private finance in urban regeneration. The meeting at the Europa Hotel is hosted by The Royal Institution of Chartered Surveyors and will be attended by senior figures in Government and property development companies.

The University research, carried out by the School of the Built Environment and funded by the Joseph Rowntree Foundation, focused on the need to encourage private developers to invest in urban regeneration. This type of investment has been seen as high risk and low return but the new research suggests that high returns on investment are possible. Among the findings were that:

regeneration initiatives need to adapt to economic and property cycles;
confidence-building measures are important in creating a climate conducive to private sector investment;
developers occupy a pivotal position in terms of stimulating initial confidence in the property market;
contaminated sites are a high risk factor for developers; remediation is essential if developers and financiers are to invest;
the Private Finance Initiative (PFI) has potential to facilitate private investment but must be adapted to encourage participation by small-scale developers in the urban context.
The Chairman of the RICS regeneration panel and Director of the British AMEC property development company, Chris Brown said about the report:

"This study, it seems to me, is the clearest analysis we have had of the views of investors (and most importantly, of those who choose not to invest) in inner urban areas.

"As such, it deserves very careful study by policy makers who have criticised the confused and conflicting views they sometimes receive."

For further information, please contact:

Press Office Department of Communication and Development
Telephone: 028 9036 6178
Email: pressoffice@ulster.ac.uk