Stalled Manchester Office Schemes to get Kick-Start
Stalled office schemes throughout Greater Manchester could be given a kick-start thanks to a ┬ú110m fund led by a consortium of ten local councils, paving the way for a string of grade A office space schemes to be completed.
Reported on thebusinessdesk.com, the group of 10 Greater Manchester councils will work alongside the Greater Manchester Pension Fund and commercial property advisors CB Richard Ellis, administering cash from an Urban Development Fund that will be named the Evergreen Fund.
Consisting of money from the European Commission, North West Urban Development Agency and the Greater Manchester Pension Fund, it will focus on pushing forward grade A office space schemes that they believe will assist in attracting and securing inward investment for the region.
Sir Richard Leese, leader of Manchester City Council, said: “The consortium members have a clear understanding of the regionΓÇÖs priorities and a strong determination to work together to deliver this vision.”
[/p]According to the report on thebusinessdesk.com the European Investment Bank will be running the procurement process and it is expected to announce a second Urban Development Fund for Merseyside in the near future. It is also expected that the first office space schemes to benefit will do so before the close of the 2010. [/p]