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£350m regeneration agreement for Bournemouth
Bournemouth Borough Council (BBC) has announced that a new public-private partnership has been established in order to launch a £350m regeneration of the Dorset town.
Morgan Sindall Investments has reached agreement with the council for The Bournemouth Development Company, which will be a Local Asset Backed Vehicle. Over the next 20 years, the partnership is expected to help provide new family attractions; shops; public realm improvements; and housing.
The partnership will see BBC invest in each site when development is 'imminent'. Morgan Sindall Investments will invest a site's market value. BBC deputy leader John Beesley said: "By forming this partnership we're helping secure Bournemouth's future as a premier destination."
Morgan Sindall Investments' Duncan Johnston added: "Through this long-term partnership we hope to enhance Bournemouth's already strong heritage to bring landmark improvements."
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