THREE Worcestershire business parks are to benefit from a groundbreaking property regeneration partnership between developer Langtree Group plc/Bank of Scotland Corporate and Advantage West Midlands.
The new organisation was named PxP West Midlands Ltd Partnership at an official signing ceremony.
Langtree/Bank of Scotland was selected by Advantage West Midlands as the preferred choice for its first public and private sector partnership.
By creating PxP, Advantage West Midlands aims to speed up the delivery of development projects on selected sites within the agency's £160 million property portfolio and create thousands of jobs.
Included in the portfolio is the 20-acre Bromsgrove Technology Park and Upper Teme Business Park, Tenbury.
The partnership will also manage Advantage West Midlands' portfolio of investment properties comprising more than 600,000 sq ft of space suitable for letting, including the Lower Teme Business Park, Tenbury.
Langtree, whose regional headquarters are in Temple Row, Birmingham, is a specialist in urban regeneration and is one of the UK's fastest growing investment and development companies with a property and land portfolio of more than £130 million, accommodating 2.7 million sq ft of commercial space. This is the second major long-term public and private development services contract for Langtree following the success of its networkspace joint venture with English Partnerships, the national regeneration agency.
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