2015-02-01

AJ: "Government agency in talks with foreign funders on £5bn of projects"



"The government’s Regeneration and Investment Organisation (RIO) is in discussions with overseas investors on more than £5billion-worth of UK projects, its chairman has revealed.

"Michael Bear told the AJ’s sister publication Construction News that the organisation had a pipeline of around 184 UK projects worth a total of £100bn, of which £40bn were considered 'shovel-ready'.

"... RIO was set up by the government in November 2013 to attract overseas investment into large-scale regeneration projects in the UK.

"The team is assessed annually and will run for three years until November 2016, although there is scope for this to be extended.

"... Bear said Croydon was seen as an attractive destination for investment due to its proximity to London and surrounding infrastructure, as well as being home to Westfield and Hammerson’s £1bn regeneration of Croydon’s retail centre.

"The RIO team is also looking at several other Greater London regeneration projects: the Brent Cross Cricklewood regeneration; Silvertown, close to ABP’s investment in Royal Docks; and Old Oak Common."

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