A £3.6 billion Towns Fund to support towns across England to build prosperous futures through innovative regeneration is a perfect chance for estate agents to work with local businesses.
That’s the view of the Guild of Property Professionals whose chief executive Iain McKenzie says: “This is a great opportunity for our members in those areas to join forces with other local businesses and the community to come up with an ambitious plan to transform their town’s economic growth prospects.
“The injection of monetary resource from the government will help to improve infrastructure in those areas with a focus on aspects such as transport, broadband connectivity, skill and culture. The improvements will boost local business and will help attract more buyers to these areas.”
A total of 42 places across the Northern Powerhouse and 33 places in the Midlands Engine are among the 100 pioneers of new Town Deals as part of the government’s commitment to level up all regions by boosting productivity, skills and living standards.
Minister for the Northern Powerhouse and Local Growth, Jake Berry MP, says: “The best answers for local people will come from local people, that’s why we have listened to people living in these towns and will support them with a mega £3.6 billion fund to drive jobs and economic growth.”
McKenzie adds that the Housing Secretary will be working with local people within the 100 communities to agree proposals to invest up to £25 million in each place.
“[The Housing Secretary] has said in his announcement that he hopes these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with new optimism.”
The government will soon publish a prospectus to guide towns through the process and set eligibility criteria for funding.
Once approved, new Town Deals will improve connectivity, provide vital social and cultural infrastructure and boost growth – with communities having a say on how the money is spent.
Decisions on funding any proposals will be made in due course.