Regeneration agency bows out with boom year

10 Jul 08
ngland's national regeneration agency has attracted record private investment just one year before it is due to be wound up.

11 July 2008

England's national regeneration agency has attracted record private investment – just one year before it is due to be wound up.

A total of £1.27bn was raised by English Partnerships for housing and other schemes in 2007/08, up 24% on the previous year, according to figures released this week.

John Walker, EP's chief executive, said the sum was inflated by the £350m raised for the O2 Centre in London's Docklands but showed the overall value of partnership schemes. 'A lot of things crystalised during the past year. We are seeing the benefit of long-term public sector investment,' he said.

EP's annual report, published on July 8, shows that work started on 11,045 homes as a result of EP schemes, up 14% on the previous year. A total of 6,632 homes were completed, up 57% on 2006/07 and 16% ahead of target.

But Walker admitted the outlook was grimmer following the credit crunch. 'If you look at last year in isolation it was particularly good,' he told PF.

'We are now into a different world where we are a bit-part player in terms of the overall market.'

EP is due to be subsumed into the new Homes and Communities Agency by April 2009 at the latest. Walker said an earlier switch would be preferable.

'We're building up programmes as if EP was continuing so that the HCA hits the ground running. But if it's possible to introduce the HCA earlier then I'm all for it.'

PFjul2008

Did you enjoy this article?

AddToAny

Top