Allerdale Investment Partnership will work like a magnet for developers – many of whom prefer to deal direct with the private sector.
The two partners have very specific responsibilities. The Council invests its surplus land and shares its knowledge of the needs of its communities, while the founders and owners of IAG invest money and professional skills to secure planning permission whilst liaising with potential developers and potential purchasers for individual sites. They also have the commercial expertise and existing relationships with developers and investors to take potential schemes through the planning process and to deliver serviced land to the market.
In the long-term, there could be additional business benefits with future opportunities for the partnership to purchase more and more sites that are currently not in Council ownership.
The disposal of surplus assets is a key project which will support the work of Allerdale Borough Council. Strong economic development, the creation of vibrant successful town centres, the provision of exceptional leisure facilities, promoting business and increasing prosperity are its priorities.