U+I Plc: Portfolio Review

Now known as Landsec U+I, the company is a specialist mixed-use regeneration developer that has excelled at re-imagining and re-purposing buildings and places that are no longer fit for purpose. In 2021, U+I asked RealWorth to assess the social value of 20 different projects within its portfolio with a combined value of over £1.5bn

RealWorth analysed and reported on the social value created by the U+I developments. RealWorth also provided a series of recommendations highlighting areas of best practice both within U+I and in the wider sector to further enhance the social value potential of the portfolio.

The report was used to show analysts and potential investors how social value featured in U+I’s thinking when they planned for and designed regeneration schemes.

Balance Power: Battery Storage Projects

Balance Power is a UK energy developer that works with landowners, communities, and local authorities to bring about a fundamental shift in how we produce and use power. Its focus is to meet the needs of local communities, whilst playing a role in tackling the global climate emergency. It has over 40 consented projects and a project development pipeline of over 2GW.

RealWorth has been commissioned to provide Balance Power with advice in two key areas:

1. Establishing and maintaining a company-wide approach to understanding, optimising and capturing social impact

2. Project-specific delivery of meaningful community impact and to support the planning application process.

As Balance Power continues to develop scale and grow into other energy technologies, our role is expected to become a more integral part of its ESG ambitions and commitments.

An example of our recent work includes a project in the North-west of England, where we collaborated with representatives of the local authority and community groups to develop a social value strategy and action plan which integrated with and supported the existing pro-social thinking and activities in the local area.

2-3 Degrees: The Crown Estate Youth Panel

2-3 Degrees is a social enterprise that aims to inspire and equip young people with personal development skills needed to fulfil their potential. In partnership with The Crown Estate (TCE), 2-3 Degrees set up a Youth Panel to provide a youth voice on regeneration projects across London and within the Crown Estate properties.

RealWorth was commissioned to evaluate and quantify the social value generated by the young people as a result of their experience on the Panel. The study assessed the programme’s capability to deliver social value from the youth participant’s perspective, including growth in confidence, skills, career aspirations and knowledge, with the benefits expressed both quantitatively through case studies and qualitatively through a social return on investment (SROI) value.

Perkins&Will: Social Value Framework

Perkins&Will is a global design practice with a strong internal culture of social purpose. Much of its social impact activity has historically been ad-hoc or untracked. With social value now a growing requirement in bids — especially in the public sector — the firm identified a need to define and measure its impact more strategically.

RealWorth developed a bespoke Social Value Framework based on the national TOMs (Themes, Outcomes, Measures) model. The framework bridges Perkins&Will’s internal values with external expectations and outlines a roadmap for implementation, reporting, and continuous improvement — with Year One positioned as a pilot phase.

Trinity Theatre: Impact Evaluation

Trinity Theatre, situated in Tunbridge Wells, is a classical theatre, music, films, visual arts and children’s theatre, that is keen to enrich all age groups and enhance cultural togetherness. RealWorth was recently commissioned on how the Theatre generates social value, and therefore reviewed the last two years of operation at the theatre interviewing both management and board.

Throughout this assessment, RealWorth completed on-site reports which included a theory of change. To add value to this report it was important to help the Theatre communicate the many ways in which they change lives for the better.

Outcomes associated with the past two years of Trinity activity range from local heritage and people having improved wellbeing through living in good quality housing. The youth theatre has enabled people to gain employability skills and increased the amount of people who attend shows creating a welcoming community.

This project has assisted Trinity Theatre in starting a journey of demonstrating the social value they create and provided them with key material that they can showcase to corporate, donors and councils. It also assisted the board in re-evaluating its social purpose and strategy when introducing new projects.

Trowers & Hamlins: Social Value Toolkit

RealWorth was commissioned by the international law firm Trowers & Hamlins to write a pioneering report  that sought to  make the case that financial returns can be enhanced by creating buildings and places in which people and communities thrive. 

The report contained examples of practical tools, advice and sources to help those interested in doing more to understand, maximise, measure and communicate social value. The report was launched at the 2018 MIPIM conference in Cannes, with evidence that real estate projects can deliver greater financial returns by incorporating long-term sustainable social value. 

You can read the full report here, or a condensed version here.

Cathedral Group: Moulsecoomb Place

Moulsecoomb Place is a Grade II Listed 18th-century house in the Moulsecoomb area of the English coastal city of Brighton and Hove. In 2022, the Mansion and grounds were purchased by TOWN and Cathedral, with the intention to restore Moulsecoomb Place, the tithe barn and the gardens and devise a use for the property that will provide a benefit for the community. Current plans for the site include student accommodation, leisure and retail units, a community hub, the restoration of the historic gardens, improved access to the nearby Moulsecoomb railway station, greater public access to the gardens and historic buildings, and the creation of an “affordable and sustainable” place to get food and drink.

RealWorth was commissioned in December 2022 by Cathedral Group and TOWN. to produce a social value assessment of the scheme at Moulsecoomb place. The team worked closely with the client to analyse the social impact of this scheme and make recommendations for optimisation of social value for this scheme.

The report demonstrated the potential public benefits of the scheme in a concise manner and supported the planning application for the scheme submitted to Brighton & Hove.

Vita Group: Circle Square

Circle Square is a new neighbourhood developed on the former BBC site in Manchester City Centre. It includes student accommodation, residential flats, commercial and retail space, revitalised public realm and a new central park. The development was a joint venture between Vita Group and Bruntwood.

RealWorth was appointed by Vita Group to assist in identifying and measuring the social value that will be created by the Vita Living and Vita Student Buildings, Symphony Park and the associated public realm improvements. We were also asked to make recommendations on how social impact of this and future schemes could be optimised.

Westminster City Council: North Paddington Programme

The North Paddington Programme is a place-based programme by Westminster City Council. Its aim is to make Westminster a fairer place to work and live. Its ‘place-based’ objectives mean that all work is developed in partnership with local people, community groups and charities in the Harrow Road, Queen’s Park and Westbourne wards of the Borough.

RealWorth carried out a one-year review of the North Paddington Programme and outlined several recommendations to help shape the programme going forward. This project has assisted the Westminster City Council in demonstrating the effect that their activities are having around the areas they operate in, and evidence the benefits the North Paddington Programme can have over a long period of time.