Reform is about more than planning: Leading voices unite at UKREiiF to outline definitive steps to tackle viability challenge

With many of the UK’s towns and cities vying for transformation, unlocking infrastructure, driving investment, and tackling viability are key challenges that need to be addressed head-on through collective action.

This was the topic of discussion at global real estate advisor Avison Young’s flagship UKREiiF event – “Planes, trains and investment deals: The role of infrastructure in unlocking private sector investment in UK cities” – chaired by the firm’s Managing Director of Transactions, Chris Cheap.

Against the backdrop of the UK’s leading real estate conference, the event brought together a panel of expert voices, including Nick Walkley, Principal and UK President at Avison Young; Jennie Daly CBE, Chief Executive at Taylor Wimpey; Bill Hughes, Global Head of Private Markets, Asset Management at Legal & General; and Michela Hancock, CEO at Hilltop Property Partners.

A key theme throughout the discussion was the need to view housing and infrastructure as interconnected priorities. Panellists urged policymakers to consider bold structural reforms, including the reclassification of affordable housing as national infrastructure, to enable faster delivery and attract long-term investment.

Affordable housing, argued Nick Walkley, Principal and UK President at Avison Young, directly underpins economic productivity, supports social value outcomes and drives place-based regeneration. Recognising its strategic importance would unlock long-term investment, integrate housing with transport and utilities planning, and ensure a coordinated, large-scale response to the UK’s ongoing housing crisis.

The panel also explored the complexity of current delivery models, particularly in light of devolution and the evolving roles of combined authorities. There was consensus that the private sector has a crucial role to play in helping government navigate this complexity - by offering bold, confident viewpoints and working collaboratively to simplify fragmented systems.

When asked what levers need to be pulled to unlock viable development at scale, the panel pointed to several urgent priorities: accelerating infrastructure funding, clarifying long-term spatial strategies, and strengthening partnerships between the public sector and private investors.

Nick Walkley, Principal and UK President at Avison Young UK, said:

“If we’re serious about regenerating and growing our cities, the transformation of our infrastructure isn’t just a nice-to-have, but a necessity. Investors want certainty, communities need to feel connected – but we need a clear path to delivery. Ambition alone won’t get us there.

“It was great to bring together our panel of experts to dive into this topic, and what better place for it than UKREiiF – the largest real estate investment conference in the UK. I can only hope both the public and private sector see the outcome of our event as a call to action in driving forward continued growth across the UK.”

Bill Hughes, Global Head of Private Markets, Asset Management at Legal & General, said:

“The UK needs to be far more forensic in identifying where targeted financial support can make a genuine difference to viability. That means going beyond broad-brush policy and really understanding the market dynamics and funding gaps at a local level. If government can provide that clarity and targeted intervention, it will unlock far greater confidence and capital from the private sector, which is ready and willing to deliver."

Michela Hancock, CEO at Hilltop Property Partners:

"For institutional investors, consistency and certainty are everything. When affordable housing requirements shift late in the game, it introduces risk and slows everything down. If we can ‘set’ these requirements clearly and early - backed by policy and funding support - then investors will have the confidence to commit at scale and help build the kind of long-term housing and infrastructure solutions the UK urgently needs."

Chris Cheap, Managing Director of Transactions at Avison Young UK, said:

"It’s time to take affordable housing out of the viability debate altogether. Too often, it becomes the variable that gets traded away when the numbers are tight. In reality, it should be the non-negotiable foundation of every major development. If we want real, sustainable communities, we need to stop treating affordable homes as optional extras and instead recognise their role as essential national infrastructure."