A team comprised of staff from both Pendle Borough Council and Barnfield Investment Properties
PEARL aims to make Pendle a more prosperous place through delivering development and regeneration.
PEARL has a proven track record of bringing forward and successfully completing economic, commercial, housing and leisure schemes to support the regeneration and growth of Pendle. Since PEARL was established, it has delivered over £34million of development and it has an excellent track record in building and selling new houses.
It has more projects to deliver in the pipeline, including a number of new housing developments in Colne and Brierfield. Its flagship project is the £32 million conversion and development of the Grade ll listed Brierfield Mills (Northlight).
PEARL comprises a group of joint venture companies established between Pendle Council and Barnfield Investment Properties (BIP) to support the regeneration and growth of Pendle. The companies are:
To facilitate subsequent mixed use, housing and commercial developments, the Council and Barnfield Investment Properties Ltd (BIP) formed a second joint venture company, Pendle Enterprise and Regeneration 2 Ltd (otherwise known as PEARL2) in 2008. BIP was selected as the Council’s Strategic Developer Partner following the completion of an open procurement exercise, in line with national and European (OJEU) regulations.
PEARL (Brierfield Mills) Ltd has been created as a wholly owned subsidiary of PEARL2. It was formed in 2012, to specifically deliver the regeneration and development of Brierfield Mill (the Northlight Project).
Pendle Council holds a 30% share in all the companies and Barnfield Investment Properties (BIP) has 70%. For every £1 of money that Pendle Council invests, £2.33 of BIP money (private sector) is invested too.
PEARL does not employ any staff itself. It shares and utilises the professional skills, knowledge and commercial expertise across the two parties to deliver developments.