Fragmented property ownership
and the High Street
Martyn Chase
Stanhope plc
Future High Streets Forum
British Property Forum
Fragmented Ownership: issues
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High Streets under stress
Empty properties
London’s town centres face different challenges
Poor asset management
Fragmented ownership
CLG suggested ‘pooling’ properties
Peter Brett Associates propose TCIM
Future High Streets Forum investigating
Fragmented Ownership: JV
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JV for property ownership
Organisation and skills to manage property
Scope and critical mass
Funding
Benefits
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Co-ordinated asset management
Better tenant mix; less vacancy
Better town centre performance
Added value for investment
Long term business plan
Fragmented ownership: pilot studies
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3 Pilot studies: leadership/funding under review
Location and area
Mix of occupiers and uses
Public realm, parking and access
Local leadership
Extending the role of BIDS into property
ownership
• Establishing the JV
Fragmented ownership: the JV
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The vehicle and how it will operate
Purchase property or pool property or both?
A local vehicle: who to be involved?
Raising finance: loans and equity
A national fund
Business Plan
Fragmented ownership: views
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Merits of the idea
How important is this issues?
How challenging is the JV idea?
Extending the role of BIDS?
Particular issues for London town centres?