Royal Pier Waterfront Southampton
Agreement signed for £400m development of Southampton’s Royal Pier Waterfront
RPW (Southampton) Limited, a joint venture company owned by Morgan Sindall Investments Limited (“MSIL”) and funders Lucent Group (“Lucent”), has signed a development agreement for the regeneration of the Royal Pier Waterfront in Southampton. MSIL is the investment division of construction and regeneration group Morgan Sindall Group plc. Lucent Group is a strategic land development and investment company specialising in funding regeneration throughout the UK. The development agreement, signed with landowners Southampton City Council, Associated British Ports and The Crown Estate, requires the preparation and submission of a planning application for a comprehensive mixed-use development of the site. The plans to develop the waterfront area are a key part of Southampton City Council’s vision to regenerate the city through seven ambitious projects.
The existing listed Royal Pier, damaged by a fire and storms, has lain disused and dilapidated for many years. The development plans aim to transform the area, reconnecting the people of Southampton to a waterfront of which they can be proud. A full mixed-use development is proposed on the 32 acre site adjacent to the City Walls and Port of Southampton. The project, which will be delivered in phases over a number of years, will include offices, hotels, leisure, food, drink and retail, as well as a residential development of waterside apartments and enhancement and improvement of the existing public facilities at Mayflower Park. RPW (Southampton) Limited will now proceed with the preparation and submission of a planning application for the Royal Pier Waterfront, and obtaining the necessary statutory consents for a project of this scale and complexity.
Lisa Scenna, managing director of MSIL, said: “We are delighted to achieve this important milestone in partnership with our funders and the landowners.” Charles Flynn, Chief Executive of Lucent, said: “Lucent’s involvement will help to ensure the success of the development by providing secure funding and land delivery expertise”. Simon Letts, Leader of Southampton City Council, said: “We are very excited by these proposals. The Royal Pier Waterfront development is the flagship project in our overall plan to further enhance our city’s reputation as a first-class destination to live, work and visit”. Southampton Port Director Nick Ridehalgh said: "We understand how important the Royal Pier site is to the future development of the City's waterfront. Given this, we welcome the completion of the development agreement."
Media contact Morgan Sindall Group:
- Jackie Kendrick, 020 7307 9220 or firstname.lastname@example.org Lucent:
- Charles Forsyth, 01624 647 070 or email@example.com
- Kate Levine, 020 3327 4055 or firstname.lastname@example.org
Notes to editors:
1. A Conditional Development Agreement has been signed by (1) RPW (Southampton) Ltd a company owned by Morgan Sindall Investments Ltd and Lucent Royal Pier Waterfront SARL; (2) ABP; (3) Southampton City Council and (4) The Crown Estate.
2. Morgan Sindall Investments Ltd provides project development and funding solutions through a one-stop service, allowing our private and public sector partners to implement sustainable change in order to improve long-term prospects and well-being of local communities. It is part of Morgan Sindall Group plc.
3. Lucent Group (Lucent) specialises in land development in growth areas throughout the UK. Lucent is comprised of Lucent Advisors, Lucent Global Distribution and operates the Luxembourg domiciled Lucent Strategic Land Fund. The combined strengths of Lucent provide funding, real estate acquisition, land development and infrastructure expertise enabling the delivery of large scale strategic developments.
4. Morgan Sindall Group plc is a leading UK construction and regeneration group with revenue of over £2 billion and which operates through five divisions of construction and infrastructure, fit out, affordable housing, urban regeneration and investments.