The lead is being led by group chief executive John Downes, who is stepping down from his current role to lead and take a majority shareholding in the new company. Langtree Group will also have a minority shareholding in the new company, which will be called Langtree Property Partners.

Langtree Property Partners will assume ownership and responsibility for a range of existing public-sector development partnerships. The assets controlled by the new company include: Sci-Tech Daresbury, a joint venture with Halton Borough Council and the Science and Technology Facilities Council; Parkside Regeneration, a joint venture with St Helens Council; Wire Regeneration, a joint venture with Warrington Council; and Hollinwood, a development agreement with Oldham Council.