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07/03/2018

English cities regeneration fund doubles in size

Words: Laura Edgar
English Cities Fund project in London's Canning Town / English Cities Fund

The English Cities Fund has announced that it will double its investment in English towns and cities to £200 million as it looks to deliver five schemes that have a total value of £1.6 billion.

The fund is a development company set up by Homes England, Legal & General and Muse Developments in 2001.

It is seeking new partnerships with councils, regional authorities and other public sector organisations to transform major sites, deliver mixed-use residential schemes, and create inspiring new places.

The £200 million fund is set to target complex, large-scale and long-term regenerations projects; some have already been delivered in Liverpool, London, Plymouth, Salford and Wakefield. It has so far delivered 850,000 square feet of office, retail and leisure space, and built 1,300 homes in new neighbourhoods, with another 2,210 homes in the pipeline.

Sir Michael Lyons, chair of the English Cities Fund, said: “Our cities and towns are the engines of our economy and our cultural and social lives. We must continue to reinvent them in bold and imaginative ways.

“We want to partner with ambitious local authorities and other public bodies who want to attract investment, build homes and support enterprise. Together, we can create exceptional places.

“We’re a unique partnership. In bringing together Homes England, Legal & General and Muse, we are demonstrating the combined potential of public and private sector regeneration expertise. We’ve shown over 17 years that it’s possible to commit for the long-term while still delivering at pace. It’s an approach that’s allowed us to see potential where others may not and to transform even the most complex sites.”

Image credit | English Cities Fund

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