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Innovative Joint Venture Between Allerdale Borough Council and Lucent Strategic Land Fund Launches New Public Website

Allerdale Investment Partnership, a joint venture between Allerdale Borough Council and the Lucent Strategic Land Fund, has launched a new website. The partnership has released the website to share its vision for generating economic investment in the northwest of Cumbria.

ALLERDALE, UK - 6 November 2014 - Allerdale Investment Partnership (AIP), the innovative joint venture partnership between Allerdale Borough Council and Lucent Strategic Land Fund, has announced the launch of a new website. AIP has released the website in order to share its vision for generating economic investment in the northwest of Cumbria.

"The launch of the website is the next step in outlining our joint vision for the partnership," stated Alan Smith, leader of Allerdale Borough Council. "The aim is to create employment, regenerate disused and derelict areas, attract increased commercial investment and build new homes and businesses – as well as generating the maximum financial returns for the Council which will be reinvested across Allerdale district.”

Allerdale Borough Council manages a diverse portfolio of land across the northwest of Cumbria and provides services to a population of over 96,000 people spread across the region. As well as providing the land, it also brings to the table its considerable insight into the specific needs of its communities.

The Lucent Strategic Land Fund is funding the various developments. Besides funding, the Fund brings expertise in land investment, land acquisition, finance, planning, infrastructure delivery and project management.

According to Pram Nayak, Project Manager of the AIP, "the Allerdale Investment Partnership is an innovative model of joint venture cooperation with sizable benefits all around."

"The Partnership will enable borough-wide planning, bringing new housing, retail, leisure and hospitality venues to locations where they are needed," stated Nayak. "Significant local employment opportunities will result from both construction and the businesses attracted to our region."

The Lucent Strategic Land Fund is backed by large institutional investors, which have made it a prominent player in large-scale infrastructure and regeneration projects across the UK including Lincolnshire Lakes and the Royal Pier Waterfront in Southampton.

The Allerdale Investment Partnership has already started to work on its first two projects: Miltofts in Maryport and Ashfield Road South in Workington.

"Maryport and Ashfield Road are the first and second sites we want to bring forward for development with the possibility of further sites being considered in the future," stated Mr Smith. "The borough's investment in this joint venture partnership will ensure our ability to provide more and high quality services to the people of Allerdale.”


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