High vacancy rates, dilapidation, soil contamination, asbestos; those are the spatial physical issues at a business park that are often the focus of attention. And they turn the restructuring of a business park into a tricky process. Because, let’s be honest, no one wants to own such problems. That goes for the local authority and certainly for businesses. No surprise then, that business park regeneration often fails to yield results.
Learn and let learn
A demand-based approach to area development is a practical book that showcases seven engaging and intensive area development projects in Overijssel. It revolves around an in-depth study by Saxion University of Applied Sciences’ Business Park Development research group and the approach adopted by Herstructureringsmaatschappij Overijssel (HMO). They present the lessons they have learnt, asking: what did the approach yield? Is this approach worthy of a broader roll-out? Is it a welcome boost for the traditional property sector?
HMO, the jack-of-all-trades
The Overijssel provincial authority set up HMO in 2009. Over the past nine years, HMO has created and seized its opportunities well. By assuming roles that always supplemented whatever was needed during the process: investor, developer, lender, urban planner, process manager, or project leader. The result is that HMO has solved the restructuring challenge in Overijssel.
A demand-based approach
HMO mainly takes its lead from market demand to be able to better develop and redevelop business parks. Thanks, in part, to this demand-driven approach, HMO has helped bring down vacancy rates, create jobs, improve business location factors, and spur new activity. Working according to this approach means that demand always comes first. The whole book is available for download from the website and we will give a brief impression on this website.