The joint venture plans £0.5bn of development over its 20 year life. Our dedicated team based in Bournemouth is delivering significant programme of joint developments: commencing with £40m of housing, student accommodation and public parking delivered at the Citrus Building and Madeira Road; and currently with a £27m build to rent scheme on site which will open in July 2018. The next phase of activity within procurement and planning includes £25m of residential and the £150m Winter Gardens mixed use development.
An initial tranche of seventeen joint developments were identified at the outset, with a total gross development value of c£500m, with the potential to add further sites and activity as opportunity arises. An example is demonstrated at the Winter Gardens where both partners have purchased the last piece of land to unlock and enable comprehensive redevelopment.
We draw on Morgan Sindall Group’s tremendous capacity to deliver developments through the following market leading companies:
• Morgan Sindall Investments (development management and property management)
• Morgan Sindall Construction & Infrastructure (construction and infrastructure)
Benefits to the Council
Significant financial contributions are being made to the Council by the Partnership. Councillor John Beesley, Leader of Bournemouth Borough Council, has said that “through this partnership we’re helping secure Bournemouth’s future as a premier destination, working with some of the nation’s most talented urban designers and architects to bring major improvements, without impacting financially on council taxpayers.
“To date BDC has been able to make significant capital and revenue contributions to the Council, has delivered new homes with a range of tenure mix and contributed significantly to the local economy. The success of BDC has been a key factor in attracting a further £250m of investment into the Town. It has been our experience that there is an embedded culture of partnership and partnering within Morgan Sindall and this has contributed to the success of BDC”. Bill Cotton, Executive Director Environment & Economy, Bournemouth Borough Council: