HOME ABOUT NEWS CONTACT RSS FeedRSS FEED

Innovation in regeneration finance

programme masterclasses testimonials register subscribe sponsors venue


Platinum sponsor:

John Laing

Workshop sponsors:


CBRE
Colliers International

McGrigors LLP

Pinsent Masons

PwC

Regenter

Squire, Sanders & Dempsey

Event partners:


Core Cities

Local Partnerships

Media partners:

PPP Bulletin
LGN

Organised by:


3FoxInternational

LIBV funding for Devon and London projects

Published: 2009-08-13 10:31:54

Local Incentive-Backed Vehicles (LIBVs) show signs of supplanting Local Asset-Backed Vehicles (LABVs) as the recession makes the latter less attractive because increases in asset values can no longer be assumed over the lifetime of projects.
 
LIBVs involve giving private sector partners the incentive of options to buy and develop public sector sites, typically brownfield. LABVs, by contrast, normally require public sector bodies to invest their property assets at agreed market valuations in the development scheme.


LIBV projects will usually commit the private sector partner(s) for at least 10 years and more often longer. Devon County Council recently set up a 20-year LIBV partnership with St Modwen to develop the Skypark business zone in Exeter. Meanwhile, Network Rail is going ahead with a £500 million LIBV scheme to develop eight railway station sites in and around London. Kier Property is the preferred partner for this project.

Back to news index