TOTAL COST
£500m
DURATION
20Y

Project description

Bournemouth Development Company (BDC) was incorporated in February 2011, and is a 50:50 joint venture partnership between Morgan Sindall Investments Limited (MSIL) and Bournemouth Borough Council The partnership structure is that of a Local Asset Backed Vehicle.

The partnership has a 20 year concession period and its purpose is to deliver the Town Centre Regeneration Vision for Bournemouth though the development of 17 initial sites, with a maximum development value of £500m.  

The Citrus Building at Leyton Mount (£14m) - Start Date April 2013, Completed March 2015

The Citrus Building, on the site of the old Leyton Mount carpark, provides  64 apartments, and the 604 square metres of A3 commercial space. Situated adjacent to Horseshoe Common , the development provides high quality apartments at affordable prices to attract more people to live in the area, with a particular desire to attract first time buyers.  At ground floor the developer attracted family restaurant group Turtle Bay to the development. Turtle Bay is trading well out of a fully glazed double height retail unit, with attractive outside terrace.  The development was delivered at the same time as The Council invested heavily in the adjoining public realm, and together these projects have helped to rejuvenate this part of the town.

Madeira Road, Student Accommodation (£22.6m) – Start Date April 2013, Completed August 2014

The first project on Madeira Road is a 378 bed student accommodation block.  The project has been forward funded by PRUPIM and leased to the Arts University of Bournemouth on a 25 year lease.  At the end of the lease the units will revert back to Bournemouth Borough Council. The units are sorely needed by the University who currently have only 100 beds to offer over 1,000 first year students.  The development ranges in height from four stories at the western side through to six at the eastern side.

Madeira Road multi-storey car park

As a condition of developing on the Letyon mount and Madeira Road car parks, the development company re-provided 400 spaces in a new public multi-storey car park.  The facility was completed in march 2014 and is now fully operational.

 


Partners

Morgan Sindall Construction & Infrastructure

Occupiers

Various

Investors

Various