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Urban regeneration has been an integral focus of central government policy in the UK for more than three decades and has played a pivotal role in enhancing the competitiveness of the UK economy, repositioning cities and city regions as the mainstays of economic growth. Utilising IPD data, this study confirms the capacity of regeneration property to match or outperform the wider real estate market in terms of total return over the medium-long term. Significantly, optimal portfolio analysis demonstrates that urban regeneration property replaces mainstream real estate within a multi-asset portfolio based on the total returns performance of equities, bonds, mainstream property and regeneration property over the 28-year time series 1981-2008. [ABSTRACT FROM AUTHOR]

This paper evaluates the use of indicators as a means of measuring the performance of regeneration against sustainability criteria. The merits of sustainability indicators are explored with a discussion of the indicator selection process and the derivation of a points scoring framework. The extent to which the sustainability performance of regeneration projects can be evaluated and subsequently benchmarked is examined. Conclusions are drawn on the robustness of the indicators selected, the versatility of the points scoring framework in capturing the sustainability performance of regeneration projects and the potential to identify 'best' practice. The application of the model and associated indicators is the subject of the subsequent paper in this journal issue. [ABSTRACT FROM AUTHOR]