Property

In December 2006, NorwePP, a public private partnership, was launched by the NWDA and Ashtenne Industrial Fund (AIF) to manage and develop the Agency’s portfolio of commercial property. AIF was selected in September 2006 as preferred bidder and the 50-50 joint venture gives AIF an equal stake in the portfolio.

NorwePP holds 42 commercial properties situated across the Northwest region, but mostly in Merseyside and West Cumbria.

The use of private sector expertise and finance will improve the performance of the portfolio, particularly in respect of providing accommodation for companies to create employment within the region. NWDA-allocated resources in managing these properties will be channelled into the strategic development of sites, to meet the regeneration objectives set out in the Regional Economic Strategy (RES).