We are proud to be a sponsor of Future of London’s Social Value programme which is exploring 10 years of Social Value in public policy, what’s going well and where do we need to improve as a sector. 

In the first part of this series, we looked at the core social value trends we are seeing across our clients, projects and research.  In this post,  Next Gen colleagues across the business share what Social Value means to them, and ways that we are working with clients to deliver social impact, social investment, and securing a positive long-term legacy of built-environment projects.

Legacy and learning, Benjamin Wikeley: The Future of London Conference nailed home the importance of the ‘golden thread’ to knit the multitude of agendas together when it comes to unlocking social value. As a sector, our projects will shape the landscape for years to come and it is vital for our ancestors to believe that we put the local communities that change impacts the most at the heart decision making. Collaborating with all corners of the real estate industry, removing red line boundaries will enable a united drive to long-lasting change. This is a concept I will continue to actively engage with, whichever each team I rotate through, here at Montagu Evans.

Doing things differently, Jasmine Ceccarelli-Drewry: In Strategic Advisory we like to work in a purposeful way with our clients to consider social value across projects of different scales and sectors. Projects range from considering the long-term social opportunities of new settlements, creatively creating opportunities for community involvement - and ownership - across sites and developments, through to developing roadmaps on how to productively utilise the public estate to deliver on a range of local socio-economic and environmental priorities. , Many projects enable our clients to make the case for challenging business-as-usual and develop rigorous approaches to deliver social investment.

Town centre focused asset management,Sophie Alcock: It was It was interesting at the Future of London Social Value Conference to gain insight from Local Authorities on how they seek to define and measure Social Value. In our work in Asset Management Advisory, by placing local people at the heart of asset management strategies, we explore how social impact and subsequently social value can be achieved and delivered through creating solutions that truly work for local communities. The tangible and intangible benefits of social value driven solutions can then ripple out to users and owners to create holistic and inclusive town centres for all.

Community in Transport, Isobel Stevens: We are supporting clients in the Transport Sector to find collaboration between the rail industry and resident and business communities to deliver a mutually beneficial solution for vacant assets and spaces. We are working with clients to consider how through facilitating community activities, whilst improving passenger experience & the wider rail environment, which can lead us to developing a standardised approach to completing lettings and licences to community groups across the Network Rail estate.

ESG in valuation, Elizabeth Rabbet: Valuing assets based solely on economic considerations is no longer sufficient with the increasing prevalence of softer data points. We are seeing the inclusion of social value in valuations provides tangible benefits for clients. Owners, investors, and developers can gain a competitive advantage by aligning their projects with the aspirations and needs of communities, attracting socially conscious investors and tenants. For example, Local authorities and policymakers can utilize social value assessments to inform planning decisions and prioritize developments that foster social cohesion, environmental stewardship, and community well-being. In addition to the valuation inputs developing, regulation is developing to encompass wider methodologies, such as discounted cash flows, to ensure valuations continue to become more forward looking and in line with societal developments.

Cultural led development, Matt Dickman: Urban Development is increasingly being used as a lever to unlock underutilised cultural, workspace and heritage schemes for community use. Development can breathe life into gateway sites, whilst ensuring that the long-term asset continues to support community use and future demand. Successful cultural-led development requires collaboration between the public and private sectors, including developers, local authorities, cultural organisations, and community stakeholders. They need to work together to ensure a balance between cultural objectives, financial viability, and the needs of the local community are met. We are also increasingly working with developers to explore cultural uses to activate ground floor spaces rather than traditional retail, and we work with clients to cross subsidy from the receipts from residential or more financially viable uses within the scheme.

‘S’ in Property Management, Jonty Clarke, Ben Evans: Particularly in the Retail & Leisure sector, where we manage over 25 shopping centres across the UK, these assets form a key part of the town/city centre and the communities that use them. Shopping centres are particularly aligned to the “S” in ESG – be it through partnerships with local community groups, events programmes or procurement and supply chain policies. We are working closely with clients who are placing increasing importance on Social Value, to monitor/capture activities taking place at the assets we manage. For private sector clients, this is driven by investor requirements for their assets to have a positive social impact and to meet ambitious ESG strategies. For public sector clients, Social Value is seen as a key part of local authorities’ role in serving their local stakeholders and using places for good.

Affordable workspace that works, Ellie Mazzon: We’re seeing that affordable workspace, cultural facilities and low-cost workspace are not simply just a 106 requirement but are often a lever for ensuring that new schemes deliver upon local priorities, ESG commitments, and social value. Planned properly, these forms of strategic community spaces ensure that projects deliver for the local community in a genuine way. Whether these spaces become a genuine contribution to an overall scheme, or a liability, often comes down to how early in design process a suitable strategy is considered. Our London Planning Team works with clients to develop strategies for their ground-floor affordable workspace, ensuring that affordable workplace is not just a tick-box component, but something which genuinely benefits the wider development and place.

Placemaking/place-enabling, Ben Tosland, Thomas Bender: We are working with clients to explore how social impact can be realised through the careful consideration of the design of physical spaces - both external areas as well as the buildings themselves. We believe that thriving places engenders well-being through a sense of inclusion and diversity, manifested in the townscape.