by Duncan Lamb
As the Government exhorts the private sector to become involved in the regeneration of Britain’s inner cities, Leeds City Development Co have announced partnerships with Mountleigh and P&O which will see both quoted companies committing up to £200m each to schemes aimed at the rejuvenation of Leeds.
Under the terms of the separate agreements with the two firms, the LCDC aim at a series of joint ventures over the next five years.
A spokesman for the LCDC said: “The LCDC is a unique initiative because private investment is being attracted to Leeds through this independent company which has been formed by a consortium of leading business representatives and the city council.
“LCDC will provide local expertise and guidance for its national and multi-national partners who recognise the benefits and huge potential of the North’s leading city.”
Current members of the LCDC board include Ian Barraclough of Bernard Thorpe & Partners and David Richardson of Weatherall Hollis & Gale, who both work in the Leeds office of their respective firms.
At a signing ceremony earlier this week, George Mudie, the chairman of Leeds City Development Co, called for other investors, developers and builders to join the “LCDC team in continuing contributing to the future prosperity of Leeds”.
All projects undertaken are to be strictly based on commercial viability.
