This article reports recent research that has assessed the achievements of one of the most extensive area-based initiatives (ABIs) that has ever been adopted in England-namely, the Single Regeneration Budget. This research has sought to ascertain whether, at least in relation to the findings from SRB, there is evidence that the ABI has delivered what was expected of it and thus whether the underlying rationale for its deployment was valid. The article focuses on three key areas of relevance to the attainment of local area regeneration. These are: targeting social deprivation; bringing about effective partnership working; and, `bending' the activities of mainstream service providers. This article concludes by considering what the lessons from SRB are for the future shape and form of ABIs.