The founder of a major Liverpool development company has backed calls for a new task force to regulate property development in the city.

Councillor Richard Kemp wants a taskforce to be set up following the collapse of the parent company behind Signature Living last week.

Cllr Kemp said he believes the city “desperately needs long term and stable investors like the insurance companies and big long-term developers like Grosvenor and Bruntwood”.

John Morley of Legacie Developments, which is responsible for the flagship £90 million Parliament Square scheme in Liverpool’s Baltic Triangle, says: “We’ve said before that a panel should be created to consider major developments in the city and it should be led by people who have successfully delivered these sorts of projects before.

“Developers should work with planning officials and we would be happy to assist where we can. There has been a lot of concern and negativity around developments failing but there are also so many success stories which should be recognised.

“We live in a great city and we have a great future but we are keen that any major construction projects are regulated. Developers should welcome regulation.”

Legacie’s other projects in Liverpool include Ropemaker Place on Renshaw Street, Reliance House on Water Street and the forthcoming ‘Eight’ residential scheme in Chinatown.

In February, the company struck a £20m deal with fund manager Maslow Capital to part finance its Parliament Square development.