On Thursday morning at MIPIM Trowers & Hamlins hosted a wide range of clients and contacts at a relaxed Brunch in the Miramar Plage beachside restaurant.
As well as entertaining and talking to our guests, Trowers were also promoting the product of an important piece of research they have been undertaking alongside Oxford Brooks University over the last several months.
Much needed development in the UK is being constrained by (amongst other things) an inability of the traditional models for real estate valuation to attribute appropriate value to the “soft” elements of the underlying development proposal.
In broad terms, social value objectives carry their proportion of cost but their overall positive contribution to a development in, for example, practical and effective place making, is disregarded. Not because it is valueless but because the traditional models don’t allow for it.
From the perspective of Trowers’ relationships with funds, investors, developers, contractors, housing associations and public sector bodies the conversation is underway and Trowers want to be part of it and help shape the outcome.
Putting it ever so simply, can we make “places” if we don’t attribute value in the process to what we otherwise recognise as core to the skill of place making??