A shortlist of some of the country’s biggest regeneration names has been drawn up to create the first regeneration fund involving a public development agency and private development firms.

The scheme will see English Partnerships teaming up with the East Midlands Development Agency to kickstart the regeneration of the East Midlands.

English Partnerships will act as facilitator in the sale of public sector land to pass on to a private partnership of a developer and a funding mechanism.

The teams shortlisted are: funding mechanism AXA and regeneration firm DTP; Igloo Regeneration Partnership and funder Morley; St Modwen; and Evans of Leeds.

The development agency will help by kickstarting regeneration initiatives carried out by the private team with funds from the public purse. The initiative will create a £90m fund to work on schemes in the area.