The Peel Group has declared its “strong support” for the Northern Powerhouse and urged public and private sector partners to work together to rebalance the UK economy.
Peel has identified 150 projects across its investment portfolio, which sit within the Northern Powerhouse and today launched a consultative document ‘Peel in the Northern Powerhouse’, which encourages a fresh dialogue between business, Government and other Northern-based partners.
The Peel Group is one of the UK’s biggest privately-owned investment enterprises, with operations across a broad range of sectors - land and property; transport and logistics; retail and leisure; energy and media.
Its investment portfolio across the North includes Manchester’s MediaCityUK and the Port of Liverpool, as well as Robin Hood Doncaster Sheffield Airport, Liverpool’s John Lennon Airport and Durham Tees Valley Airport.
Peel has invested more than £150m to develop Doncaster Sheffield with a further £12m contribution towards an infrastructure project to build a new link road to the airport. Robin Hood is the fastest growing airport outside London.*
John Whittaker, chairman of The Peel Group, has written to both the Prime Minister David Cameron and the Chancellor of the Exchequer George Osborne, outlining the group’s strategy: “We have a long-term vision for our investments and believe that coupled with the Government’s growth policies and direct investment in infrastructure and skills, our investments can make an important contribution to the aims of the Northern Powerhouse.”
Peel has a track record of carrying out regeneration projects in the North over the past 25 years, with total investments of more than £5bn, supporting 70,000 jobs. There is an additional commitment of £1bn of investment underway, in partnership with others.
Mr Whittaker added: “We believe that the Government is making great strides in facilitating a new approach to Northern growth. However, it is clear that more needs to be done to give the private sector the confidence and ability to deliver in the North, across a range of issues such as transport and logistics, communities, energy and resources. We very much look forward to working alongside our many partners, local authorities and the Government to help deliver the Northern Powerhouse.”
Peel is planning to publish an investment prospectus in early 2016, setting out in more detail the contribution that Peel and its partners can make to the North.