The property investor that has brought the claim against the Greater Manchester Combined Authority over its decision to approve £140 million in loans to rival business has now formally lodged its documents outlining the case
Aubrey Weiss is claiming that the authority has unfairly promoted Renaker,the developer behind many of the tower blocks recently built in the City Centre and effectively frozen out competitors in the property market
Court documents lodged yesterday say that loans made to two special purpose vehicles, Trinity Developments (Manchester) Limited and New Jackson (Contour) Investments Limited’which are both under the control of Renaker founder Daren Whitaker gave them advantageous treatment
“It does not appear that any comparable level of financial support has been provided to any other commercial operative active in the relevant markets,”
One of the projects was Contour Tower in the City Centre a 51 storey residential block within the new Jackson Estate described as Refined Luxury Living which included a communal dog spa, a Peloton room and a digital golf driving range
The documents lodged with the court state that
“It does not appear that any comparable level of financial support has been provided to any other commercial operative active in the relevant markets,” adding that Weis is asking the court to prohibit the GMCA from “continuing to provide subsidies” to Renaker, after raising questions over transparency.
