I see the Teesside
PR team is in overdrive about a couple of race horse movements.
Meanwhile the Southside and TVCA feature in the latest Private Eye. In summary, the story says the friends were selected as developement partners following what they claim was "a detailed competition process". TVCA say they were selected "following a presentation process" although nobody can give details of this process.
The resulting 50:50 partnership involved TVCA putting in £14.6m of "land and infrastructure" and the friends contribution was "forgoing management and short-term developers fees". TVCA would also lend £23.6m
TVCA says the joint venture would have 125 year lease on the land, but Land Registry records show the "beneficiary" to be Teesside International Land Ltd. I'll leave you to work out who owns that.
https://find-and-update.company-info...52018/officers