Member Article

Body created to usher foreign investors into UK regeneration projects

The Government have launched a “one-stop-shop” to encourage foreign investors to look at UK regeneration opportunities.

The Regeneration Investment Organisation (RIO) will be administered by UK Trade and Investment, with an independent advisory board comprised of big hitters from British business and government and chaired by former Lord Mayor of the City of London Sir Michael Bear.

Members include Argent CEO David Partridge, St Modwin CEO Bill Oliver, Macquarie’s Jonathan Harris, and Professor Michael Parkinson of Liverpool University.

RIO will direct investors to UK industry-backed development opportunities throughout the country..

The Prime Minister, David Cameron said: “I am delighted that Alderman and former Lord Mayor Sir Michael Bear has agreed to chair a new Regeneration Investment Organisation as part of UK Trade and Investment.

“This will act as a one-stop shop for our major inward investment opportunities - with £100 billion of possible projects on the table.

“These projects won’t just mean new jobs in London or the South East – but right across the whole country.

“And the first deal is just days away to boost regeneration in places like Liverpool, Salford, Sheffield and Leeds.”

Sir Michael Bear said: “We have a really strong supply of regeneration projects in the UK - over £100bn in capital value. But currently the offer is fragmented with delays and it’s difficult for investors to navigate.”

Liz Peace, chief executive of the British Property Federation, said: “We are delighted that Government has heeded the calls of the UK development industry and has tasked UKTI to do more to attract investment into major development and regeneration opportunities.

“There are a number of excellent regeneration investment opportunities across the UK that, with the right kind of marketing, will be extremely attractive to overseas investors. Sir Michael’s involvement bodes particularly well in view of his strong background in property and construction.

“The UK has historically been welcoming of those who wish to invest in our country, and we would urge Government to ensure that the current speculation over the tax treatment of foreign investors is not allowed to hold back this important initiative.”

This was posted in Bdaily's Members' News section by Tom Keighley .