Project director Anthony Gill, of developers Grosvenor, has admitted the £188m it has written off on its flagship Liverpool One development led to it bringing Australian firm Lend Lease on board for the £700m Tithebarn project.

The companies formed the Preston Tithebarn Partnership (PTP) joint venture last year when council bosses denied the move was designed to rescue the project.

Last week, the Lancashire Evening Post revealed the developers' stunning vision for the scheme and the promise that work would start on site in a little over two years.

Mr Gill said: "We learned a number of lessons in Liverpool, which is obviously a little bigger scheme than in Preston.

"That was primarily around the way we funded that and the way we wanted to fund development costs and resources before looking to access bank finance.

"Having a 50-50 joint venture ensures those costs are shared, and bringing Lend Lease on board was our response to lessons we have learned in Liverpool and what we can do differently next time.

"We decided to bring in a partner at this stage and I think up to today it has been a very good working relationship."

He said that the partnership would enable them to utilise the "significant manpower" of both firms to press forward with the plans smoothly.

Lend Lease project director Richard Coppell said the company, which is also leading the construction of the Olympic Village for London 2012, said it saw Preston as "a great opportunity."

He said talks had been underway between the developers for six months prior to signing last summer.

"We recognised the opportunity as a fundamentally great one to be involved in a prestige city centre development.

"Preston now has two of the country's leading developers working with it and I think that puts down a marker as to the ambition there is here."

Mr Gill said the developers were also keen to work with local construction firms to integrate projects outside the city centre into its plans.

The PTP has come under fire in recent months for stifling the development of the city by objecting to a number of high-profile developments, including an application from pub chain JD Wetherspoon to turn a shop on Church Street into a bar and a mixed use development by Oberston Holdings, a development firm owned by the multi-millionaire Patel family.

Mr Gill said: "We are talking with Ask and Bluemantle developers about their plans for the Miller Arcade and we are keen to speak to everyone else involved in the city.

"We see Tithebarn as being the keystone development for Preston, but together with the council and other developers we have a much broader vision for the city."