Joint Venture for Development of Multiple Sites in Suffolk

Award

Buyers

Suffolk County Council

Value

£75,000,000

Suppliers

Lovell Partnerships Limited

Classifications

Real estate services
Construction work
Buying and selling of real estate
Non-residential property services
Construction-related services
Development services of real estate
Residential property services
Housing services

Tags

award
contract

Published

2 years ago

Description

Suffolk County Council (the Council) has the ambition of delivering residential development in Suffolk. In order to realise this ambition, the Council is seeking to procure a private sector partner ('PSP') with whom to establish a 50:50 joint venture ('JV') development vehicle.The JV will be responsible for delivering multiple residential development schemes throughout Suffolk. The Council will commit sites to the JV for development and may also provide funding via loans or equity contributions.It is anticipated that the PSP will provide funding and services to the JV. Such services may include (amongst others) construction services and development management services.Following development, individual residential units or development parcels will be marketed and sold.  Profits from the JV will be distributed to the Council and the PSP based on their equity holdings.

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Contract Agreement

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Award Notice

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Organisation

Suffolk County Council

Regional or local authority

[email protected]

+44 1473260450

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