Regeneration scheme creates work bonanza

Contractors are set to benefit from a work bonanza following the announcement of ambitious plans for the 21 Urban Regeneration Companies (URCs).
According to Margaret Ford, chairman of English Partnerships, the combined force of 21 URCs in England is expected to deliver 1.5 million m2 of new commercial floor space, 30,000 new city centre homes and 35,000 new jobs. These projects are also due to draw in around £1.5bn of private sector investment.
The majority of the work is expected to be delivered over the next 10 to 15 years, although the duration of each URC varies. The nature of the work will also vary according to the specific needs of each URC.
Projects already underway at the three initial URCs set up in 1999 - Liverpool Vision, New East Manchester and Sheffield One - include Liverpool Lime Street Gateway, the Sheffield retail quarter and Manchester business park.
Once particular projects have been given the green light, procurement is usually through the normal procedures of the sponsoring partners. However, all URCs have private sector chairs and 50% of the board comes from the private sector.
"URC's welcome private sector involvement in the early stages - it's what they're all about," said Rob Pearson, head of national programmes at English Partnerships.