PRINCE CHARLES LAUNCHES £1 BILLION FUND FOR URBAN REGENERATION

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Traditional architecture is to receive a boost from a £1 billion property fund set up by Prince Charles to invest in urban regeneration and sustainable property.

The Tellesma fund, whose board will be chaired by former Land Securities chief executive Ian Henderson, will concentrate on brownfield residential and commercial projects and is one-third owned by 19 of the prince’s charities including his Foundation for the Built Environment.

The foundation, which campaigns for “timeless” methods of planning, design and building, will also act as a consultant to the fund, which is backed by financial services group Credit Suisse and a range of other investors.

Robert Adam, who has worked closely with the foundation, said the fund would boost traditional design methods and claimed this would also help tackle climate change through solid wall design.

“Sustainability as a feature of traditional design is now becoming accepted,” he said.

“I think this will hasten the extinction of people who have tried to hold off on this, who are really all about gadgets and glass — they are dinosaurs.”

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