Liverpool 'Embassy' secures investment interest
A Liverpool-based development company has confirmed that it has earmarked a £150 million fund for regeneration and social housing projects in the city.
Fringe Development Limited, based in Castle Street, is led by Chairman Chris Halbard who said this week:
“We became aware of the tremendous opportunities that are available in Liverpool through the marketing around the Liverpool Embassy initiative in London and subsequently through discussions with Frank McKenna at Downtown Liverpool in Business and the Chief Executive of Liverpool Vision Max Steinberg.
“Mr McKenna and Mr Steinberg have since facilitated a number of discussions with senior officials at Liverpool City Council and we have appointed a development team a in the city centre. We are hopeful that Fringe Development Limited will be able to execute on a number of several strategic investment sites that we have identified and been looking at with senior council housing officers over the summer.”
However, Mr Halbard cautioned that the £150 million committed for Liverpool investment opportunities was time bound, adding:
“We have found the city council to be ‘open for business’ and very helpful in recent months and we are keen to have something tangible in place with Liverpool City Council as soon as possible. In the meantime we are continuing to investigate other potential opportunities in the UK and abroad.
Fringe Development’s Chief Executive Peter O’ Brien said:
“We have the finance and building expertise to work in partnership with the Council to help with much-needed regeneration in areas of the city. We are exploring both housing refurbishment and new build projects, and we are currently looking at a number of strategic investment sites across the city as directed by Liverpool City Council’s senior housing officers. I am confident that our ongoing discussions will be concluded positively in September, and that we can start to spend some of the £150 million first tranche investment in the first quarter of 2013.”
Joe Anderson, Mayor of Liverpool said: “This shows the value of Liverpool having a presence in London without which such an inquiry might not have happened. Our door is always open to potential investors in the city and in this instance we are working closely with the Fringe Development Limited team in our regeneration plans.”