Axa Real Estate Investment Managers has teamed up with Bank of Scotland and regeneration specialists, David Taylor and Jack Jacobs, to launch a new £400m regeneration fund. The fund will be known as UK Regeneration and will work on securing major sites for mixed-use development throughout the country.
UK Regeneration will initially set out to acquire between 10 and 20 sites, and is already in negotiations regarding a number of acquisitions.
Residential specialist Jacobs and former English Partnerships Chief Executive, Taylor, are currently developing the £1.5bn Silvertown Quays scheme in East London and British Land’s £1bn Canada Water development.
Steven Smith, UK Managing Director of Axa REIM, commented: “We have little doubt that national policy is forcing the pace in terms of extensive development of brownfield sites. We have a lot of experience in this sector and now seems to be the right time to move forward.”