Apply for support for regeneration projects
A guide on how to get support for your regeneration project from the Regeneration Investment Organisation (RIO)
The regeneration industry is important for economic growth and employment.
The UK government is committed to supporting project promoters by creating the ideal business environment for investment in regeneration projects and highlighting opportunities to international investors.
A project promoter is the lead organisation for a project. Any stakeholder can be the project promoter including:
- local authorities
- public or private development agencies
- land owners
RIO insists that only one organisation is identified as the project promoter and a lead individual is nominated for all correspondence.
RIO support for project promoters
RIO can assist promoters to:
- assess suitability of project sites
- put together project proposals
- define the type of investment opportunity
- see if project meets industry and government criteria
- advertise projects overseas and the RIO project portfolio
- find suitable investors for projects
- share knowledge and best practice with one another
RIO projects are large-scale and create employment. Projects could be mixed use, commercial, retail, leisure and more.
RIO seeks projects that are nearing readiness for commencement of construction. Projects must meet certain criteria for inclusion on the RIO projects porfolio.
The project criteria is used for 2 reasons:
- credibility through due diligence
- removal of risk for investors
RIO project portfolio
The RIO project portfolio is a database where project promoters and investors can come together. RIO works with project promoters across the UK to bring projects to an investor-ready stage.
Project promoters who would like support from RIO should follow this process:
Project promoters must submit a project initiation document.
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Projects must meet the RIO project criteria for inclusion on the RIO projects potfolio. You must demonstrate evidence of the following:
- Gross Development Value (GDV) of £100 million +(lower thresholds are considered where regional variances in values apply and/or where substantial employment is created, down to a minimum of £50 million GDV)
- job creation
- land ownership or control: freehold or long leasehold
- advanced planning permission: outline / manageable reserved matters
- timings within the next 36 months
- demonstrable commercial returns in line with market values
- clearly defined project and investment structure
- project is aligned with local and central government ambitions
- support of local authority
- existence of a clear business case
The RIO team can help project promoters to meet the criteria. Expertise is on hand to assist with obstacles that arise.
Approval for the RIO project criteria
Projects that meet the RIO criteria are included in the RIO project portfolio. At this stage we will request further information to help us promote your project.
Promoting the project
Investors are able to submit their questions and express interest to the RIO team. The RIO team will establish whether a credible opportunity exists for both sides and facilitate the first meeting.
RIO offers its expertise and support to both sides during the discussions. If both parties want to do business with each other, due diligence will begin under the protection of a mutually agreed non-disclosure or exclusivity agreement.
RIO will stop promoting the project when investment is secured by the project promoter.
Contact RIO by emailing firstname.lastname@example.org