Contractor鈥檚 investment arm appointed preferred partner for a 拢1bn 15-year regeneration project in Slough
Morgan Sindall鈥檚 investment arm has been appointed preferred partner for a 拢1bn 15-year regeneration project in Slough.
Morgan Sindall said it had been appointed as preferred partner for Slough Borough Council鈥檚 Local Asset Backed Vehicle (LABV) joint venture.
Through the LABV partnership, Morgan Sindall Investments will provide project funding and investment expertise to Slough Borough Council to deliver a series of regeneration developments up to a total value of 拢1bn over a period of 15 years.
Under the contract the LABV will procure works from Lovell, Morgan Sindall鈥檚 affordable housing business, and its construction business.
The first phase of development includes a new build library and community facility to be built by Morgan Sindall.
The design and build contract value of the initial tranche of community developments is 拢54m.
Other developments will include a new build secondary school and a new build leisure centre with an ice rink.
The first tranche of residential developments by Lovell Partnerships will provide 525 new homes across five sites with a gross development value of 拢105m.
Paul Smith, chief executive of Morgan Sindall Group said: 鈥淲e have a strong track record working in partnership with Local Authorities to deliver large-scale, complex regeneration schemes.
鈥淲e are delighted to have this opportunity to partner with Slough Borough Council to fulfill their vision for the regeneration of the area and deliver this important project for the local community.鈥�
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