Two key names in the commercial development sector have joined forces to form a partnership aimed at taking advantage of the Government’s recent commitment to Keynesian economics.
Earlier this week the Government announced that it was going to follow the theories of the great economist John Maynard Keynes who espoused the benefits of large scale spending on public works during an downturn to stimulate jobs and boost the economy.
At a launch event attended by 150 key members of Birmingham’s property and business community, Trebor Developments’ managing partner Bob Tattrie announced that the new company will form a joint venture with national developer Wrenbridge Land – which only last week opened a new office in the city.
The joint venture will capitalise on the public sector experience of both companies and by forming an official union, the two companies believe it will be able to take advatnage of a greater number of sizeable public sector opportunities.
Bob Tattrie said: “Alistair Darling has this week announced a return to Keynsian economics, signaling that public borrowing will rise in order to reflate the economy with new investment to fund large infrastructure projects, new housing and better public sector facilities. Whilst Trebor is already delivering a number of public sector buildings, to really capitalise on this government announcement and be perfectly placed to gain new public development projects, we have chosen to partner with Wrenbridge Land.
“Wrenbridge’s national coverage and the size of its operation is the perfect match for the experience that Trebor’s directors have launched the new company with. Since we opened for business earlier this year, we are already managing over £250million of capital projects across the UK, most of which are in the public sector.
Live projects include the development of new council office buildings in Huntingdon and Stockport, as well as a state of the art facility for Northamptonshire Police Authority.”
Trebor has chosen Wrenbridge Land to form the public sector joint venture with due not only to Wrenbridge’s national coverage, with established offices in London and Cambridge, but also in light of its recent Birmingham office launch. Wrenbridge has completed award-winning public sector headquarters premises, as well as a number of office, industrial and business parks.
The joint venture will look at development opportunities to public sector clients on a freehold or leasehold basis, with the option of leasehold transactions being funded utilising the resources of Palmer Capital Partners’ ‘in-house’ funds.
Peter Jarman, Managing Director of Wrenbridge Land, said: “The new joint venture will provide increased exposure to a growing number of public sector opportunities that are relatively market proof.”
Trebor’s launch event was held at Utopia in Birmingham City Centre.