Councils should look at building homes or shops above schools to make regeneration schemes viable, a property lobby group has said

The British Property Federation said public bodies would need to fill the funding gap left by banks and central government.

The organisation’s Regeneration Manifesto, launched this week, said school sports and music facilities could become commercial enterprises outside school hours.

It also said tax increment financing, whereby councils borrow against the expected increase in rates brought by a proposed scheme, should be used to pay for regeneration schemes.