How to rebuild a town centre: the opportunities and challenges of PPPs vs capital investment

What emerged from the discussion was a clear consensus: successful town centre regeneration is no longer about single-use spaces or retail-led strategies. It’s about creating diverse, inclusive, and future-ready places where people can live, work, learn and thrive.

Across a range of regions, local leaders shared how they’re shifting from transactional to transformational thinking. Shelley Kipling from Oldham Council spoke about how they are coming towards the end of a £300m investment strategy. They are turning a tired shopping centre into a vibrant mix of offices and spaces for entrepreneurialism, social enterprise and events, along with a new home for their market. They are all spaces for businesses and communities.

Communities was a theme echoed throughout the conversation. As Shelley explained, she once met a young care leaver working on a Willmott Dixon site in Oldham through an apprenticeship. He spoke to me about the work happening around the town centre, his memories of that place, and how proud he was to be part of its future. To me, it’s that. It’s the people’s stories. It’s the driving of civic pride. It's the reconnecting people.

Matt O’Neill from Barnsley Council described how a proactive approach has laid the foundations for future private investment. Their Glassworks development has already transformed the town centre and now they’ve gone a step further. “If you were building hospitals today, you wouldn’t put them a mile from the city centre - you’d put them right in the middle,” he said. “We’ve signed a deal with the NHS to relocate a huge proportion of outpatient services into the new centre, with a major health and wellbeing hub on the upper floor and the best of the retail on the ground. It’s a mixed economy model – with future opportunities in hotel, commercial and office – but it’s only possible because we were willing to be interventionist early on.”

At Willmott Dixon, we see regeneration as more than just construction - it's about building long-term, place-based partnerships with local authorities. We’re developing plans for regeneration that bring together housing, culture, education, and leisure in ways that are tailored to the local context and community needs.

Similarly, Matthew Gladstone – CEO of Peterborough City Council, shared how the city’s new university is acting as a catalyst for inclusive growth and social mobility.

The funding challenge does however remains front and centre. Nazeya Hussain from London Borough of Croydon highlighted low infrastructure costs and land values are stalling progress, even in well-connected areas. “Developers want to move forward but can’t afford to,” she said. There was strong agreement that institutional funding needs to become more flexible – moving away from siloed pots towards more integrated, outcome-focused regeneration finance. That’s why new models of PPPs (public-private partnerships), and better use of devolved funding, are critical. Many are looking to places like Stockport, where long-term planning has helped attract major private investment.

Stockport is a standout example of where years of local authority-led groundwork have created the conditions for significant private investment – not just financially, but socially too. As Paul Richards from Stockport Council reflected, “The best partnerships happen when councils are clear about the difference they want to make – right down to the street level.” In Stockport, that’s meant regeneration with purpose, focused on long-term outcomes and rooted in the needs of the community.

What struck me throughout the discussion was the balance between pragmatism and vision. Our panellists were clear about the realities of delivery but remain ambitious. They understand that regeneration is political, emotional and complex - but also deeply personal to the communities they serve.

Ultimately, successful regeneration is about relationships and narrative. It’s about taking people on a journey and giving them something they can believe in. As I said during the session, we’re not just transforming physical spaces - we’re helping create places where people will make memories for decades to come.

That’s the responsibility - and the opportunity - of town centre regeneration. And it’s one we must embrace with urgency, empathy and unwavering focus.

Want to learn more?

If you’re looking to understand how these insights could apply to your organisation or simply want to explore the topic further, get in touch with David Atkinson. He’d be pleased to talk through your challenges and how we might help.

Prefer to listen to audio?

You can listen to the full discussion on our Building Knowledge Podcast on:

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