Frederic Michel-Verdier: Only half of new homes being built near train stations



Welcome to the Frederic Michel-Verdier blog. Frederic Michel-Verdier is a funds veteran specializing in infrastructure equity investments and asset management.The government’s new planning framework must focus on more transport-oriented housing developments as a report shows that only half of housing in the 12 fast growing cities in England is built within 2km of train stations.

The study is divided into two ‘rounds’ – 2012 to 2015 and 2015 to 2017, which allows comparison on how spatial issues are changing since the NPPF came into force in 2012. The institute has proposed several amendments to the National Planning Policy Framework (NPPF) to ensure that national planning policy supports housing delivery whilst also tackling critical issues of congestion air pollution and negative impacts of car dependency on both individual health and wider economically sustainable place-making.

Victoria Hills, chief executive of RTPI, said: “The NPPF gives us the opportunity to ensure that planners have a sound policy framework which encourages transport orientated development. The funding and delivery of infrastructure should be targeted to maximise potential for sustainable development close to train stations and public transport hubs. Our research on where housing development is actually being permitted shows that current policies do not go far enough to underpin the need to deliver housing in the most sustainable places. We call on Government to tighten up this aspect of the NPPF.”

Meanwhile, Labour MP Siobhain McDonagh has said that within a ten-minute walk of London’s train stations, there is enough Green Belt land for over one million new homes. In her response to the NPPF, McDonagh is calling for a presumption in favour of housebuilding on Green Belt land within 1km (roughly a 10-minute walk) of a tube or train station.

The MP for Mitcham and Morden and lead signatory on the submission to the NPPF, said: “It’s time to grasp the nettle and to stop promising new homes without the means of providing them. Would we rather have homes that our young people can afford to buy or are we happy for scrappy plots of ungreen land to remain wrongly designated as Green Belt just because of the potential furore that de-designation may cause? I believe that this is a fight worth having. There are 128,000 children in England living in temporary accommodation, desperate for a place to call home. In the hearts of our towns and cities and close to public transport, scrubland, rubbish tips and car washes are inappropriately designated as Green Belt land. It’s time to burst the myth that all Green Belt is green and use it for the homes our children so desperately need.”

Check back for more!

Frederic Michel-Verdier has been responsible for relationship and partnership development as well as sourcing, evaluating, implementing and managing investments. Learn more about the work of Frederic Michel-Verdier here. Read Frederic Michel-Verdiers more update of the government’s new planning framework on the Frederic Michel-Verdier Facebook page here. Alternatively, you can also read the Frederic Michel-Verdier news here.

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Frederic Michel-Verdier: IFM Investors snaps up 49 per cent of FCC Aqualia

Welcome to the Frederic Michel-Verdier blog. Australian fund manager IFM Investors is to acquire 49 per cent of Spanish water company FCC Aqualia for €1,024 million ($1,258 million). The deal marks IFM Investors’ first investment in a European water company, and its third globally, having invested in Wyuna Water in Australia in 2003, and Anglian Water in the UK in 2006.

“This is a rare opportunity to invest in a fast growing, international leader in water management. We admire the company’s strategy of ambitious growth outside its domestic market, and its commitment to customer service. We look forward to contributing our expertise in the water sector to further the development of its services in Spain, France, and internationally,” said Frederic Michel-Verdier, IFM Investors executive director, Europe.

FCC Aqualia represents 23 per cent of the Spanish water market, and is the fourth largest water management company in Europe. Globally, it serves more than 23.6 million customers in more than 1,100 municipalities and 22 countries, employing more than 7,500 people. The agreement is with FCC Aqualia’s parent, Spain’s Fomento de Construcciones y Contratas, and is subject to the relevant merger approvals, and the consent of FCC’s senior lenders. Financial close is anticipated by end of August 2018.

The backstory:

FCC Aqualia bid wins Sonora, Mexico, desalination project (January 2018)

FCC Aqualia bags €3 million contract against ‘reckless’ competitors (October 2017)

FCC Aqualia buys back shares in Czech business (November 2017)

FCC Aqualia and Orascom win $320 million Cairo reuse project (September 2017)

FCC Aqualia lines up bond issues to help service debt (June 2017)

Frederic Michel-Verdier is a Funds veteran specializing in infrastructure equity investments and asset management. Learn more about Frederic Michel Verdier online here. Alternatively, you can also follow Frederic Michel-Verdier‘s Medium page here. You can also connect with Frederic Michel-Verdier instagram here.

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Frederic Michel-Verdier to pursue other business interests

Welcome to the Frederic Michel-Verdier blog. Frederic Michel Verdier is a Funds veteran specializing in infrastructure equity investments and asset management. IFM wrote in an emailed statement to Inframation that Michel-Verdier left at the end last week to “pursue personal business interests”.

Frederic Michel-Verdier , who was not available for a comment, is expected by sources to continue to work in the infrastructure industry. His new role is expected to be announced later this year. An IFM spokesperson said the manager is “in the process of replacing Frederic Michel-Verdier with an equivalent investment executive”.

Frederic Michel-Verdier has been “instrumental in developing the London office through strategic relationships and partnerships”, the spokesperson added. Frederic Michel-Verdier has been an executive director since April 2008 in IFM’s London-based infrastructure equity team.

He was IFM’s lead partner on its acquisition in May of a 30% stake in the Deep Container Terminal Gdansk in Poland from Macquarie, alongside PSA International and the Polish Development Fund. In 2018 he advised on IFM’s acquisition of a 40% stake in Mersin International Port, later joining the Turkish company’s board. He also served as a board observer at FCC Aqualia, the Spanish water management company in which IFM acquired a 49% from FCC last year. He was vice chairman since 2010 of the supervisory board of Polish heating networks operator Veolia Energia Polska, in which IFM owns a 40% stake. Learn more about the work of Frederic Michel-Verdier here. Follow and connect with the Frederic Michel-Verdier on Crunchbase page here. You can also read the latest Frederic Michel-Verdier news here.



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