The project is a 50/50 joint venture public private partnership between MSIL and the council. It will deliver a range of residential and mixed-use development including leisure attractions, new housing, shops and offices across 17 sites in the town centre. MSIL will provide funding for the development of projects, matching the land value contribution of Bournemouth Borough Council.
MSIL is also providing strategic development services to the Local Asset Backed Vehicle (LABV) partnership. This includes long-term master planning, detailed site development planning, property management and design and construction. Surpluses generated by the partnership will be reinvested in improvements to the town’s infrastructure and public spaces.
The joint venture partnership will benefit from the delivery capability of Morgan Sindall and housing regeneration specialist Lovell on a number of projects in development over the course of the contract.
Ernie Battey, executive chairman of Morgan Sindall Investments, said: “We are delighted to be bringing our expertise in major urban regeneration and the delivery of community-based public-private partnership projects to this exciting scheme which is set to help transform and rejuvenate the centre of Bournemouth.”
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