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Still vacant after all these years – Evaluating the efficiency of property-led urban regeneration

Author

Listed:
  • David Adams

    (Urban Studies, School of Social and Political Sciences, University of Glasgow, UK)

  • Alan Disberry

    (Independent Researcher)

  • Norman Hutchison

Abstract

Property developers and investors have been at the forefront of urban regeneration in the UK since the 1980s. This has produced an emphasis on prime office space, luxury apartments, shopping centres and leisure attractions, which has been widely criticised on social equity grounds. There has, however, been only limited interrogation of the failure of property-led regeneration to deliver on the development it promises or on whether it represents good value for public money. Nottingham Eastside is one such example of policy and market failure, where for over a quarter of a century, property developers and investors have come and gone, none of four masterplans have been implemented, decontamination and infrastructure provision has never been completed, and most of the land is still vacant. By reconstructing the story of Nottingham Eastside, the paper argues that over-reliance on property-led regeneration can be highly inefficient, let alone inequitable, as a means to achieve strategic urban redevelopment.

Suggested Citation

  • David Adams & Alan Disberry & Norman Hutchison, 2017. "Still vacant after all these years – Evaluating the efficiency of property-led urban regeneration," Local Economy, London South Bank University, vol. 32(6), pages 505-524, September.
    • Handle: RePEc:sae:loceco:v:32:y:2017:i:6:p:505-524
    DOI: 10.1177/0269094217729129
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    References listed on IDEAS

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    1. Eamonn D'Arcy & Geoffrey Keogh, 1999. "The Property Market and Urban Competitiveness: A Review," Urban Studies, Urban Studies Journal Limited, vol. 36(5-6), pages 917-928, May.
    2. I Turok, 1992. "Property-Led Urban Regeneration: Panacea or Placebo?," Environment and Planning A, , vol. 24(3), pages 361-379, March.
    3. Colin Jones, 1996. "The Theory of Property-led Local Economic Development Policies," Regional Studies, Taylor & Francis Journals, vol. 30(8), pages 797-801.
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    Cited by:

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    2. Gu, Yiquan & Lord, Alexander & Eika, Anders & Dethier, Perrine & Samsura, D. Ary A. & Nordahl, Berit Irene & Sommervoll, Dag Einar & van der Krabben, Erwin & Halleux, Jean-Marie, 2021. "Fair shares? Advancing land economics through cooperative game theory," Land Use Policy, Elsevier, vol. 106(C).
    3. Neil Gray & Hamish Kallin, 2023. "Capital’s welfare dependency: Market failure, stalled regeneration and state subsidy in Glasgow and Edinburgh," Urban Studies, Urban Studies Journal Limited, vol. 60(6), pages 1031-1047, May.

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