The managers for an EU-backed £55 million regeneration scheme have been appointed by the Welsh Assembly Government.
The Welsh Assembly Government has hired managers to oversee its vital £55 million regeneration fund.
Backed by the EU, the money will provide support for
commercial development projects which revitalise local Welsh communities.
In order to ensure the best return on the
property investment, the authority has appointed Amber Infrastructure as fund manager and Lambert Smith Hampton as investment manager.
Jocelyn Davies, deputy minister for housing and regeneration in the Welsh Assembly Government, said that the loans equities and guarantees offered to commercial development firms through the fund will kick start projects that suffered during the downturn.
"Ensuring that this funding can go further is especially important when public sector money is hard to secure and so I'm delighted that the fund will soon be open for business," she said.
Paul Rogers, partner in commercial property at Chandler KBS recently claimed that demand for commercial property in Wales is continuing to fall.
Posted by Tess Nelson.
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