The 20-year Local Authority Asset Backed Vehicle (LABV) project, which has an estimated development value of between £350 million and £500 million, is a 50/50 joint venture Public Private Partnership between Bournemouth Borough Council and MSIL.
The partnership, which forms part of the council’s wider Town Centre Vision, will help spearhead the regeneration of the town centre delivering a range of residential and mixed-use schemes which will include leisure attractions, new homes, office accommodation and shopping. Money generated by the partnership will be reinvested in improvements to the town’s infrastructure and public spaces.
MSIL is providing a full range of strategic development services to the LABV partnership. This includes long-term master planning, detailed site development planning, property management and design and construction.
“This appointment recognises Morgan Sindall Group’s considerable experience in Public Private Partnership and regeneration across education, healthcare, affordable housing and public sector infrastructure,” says Paul Smith, chief executive of the Morgan Sindall Group. “We offer Bournemouth our long-term commitment and partnership, underpinned by a best-in-class development service and an integrated supply chain of construction, residential and affordable housing providers from within the Morgan Sindall Group and other local partners.”