21 October 2019
Sharpe Pritchard, the London-based firm of public law specialists, has advised Brentwood Borough Council and its property company, Seven Arches Investments Limited, on a landmark joint venture with Morgan Sindall Investments.
The deal is expected to be worth as much as £1 billion over the next 30 years and will contribute to the creation of new homes, mixed-use developments, public spaces, commercial and leisure facilities on land owned by the council.
The agreement also provides for the Council to act as a central purchaser for other Essex authorities looking to partner with the firm and for the Council to acquire properties for purposes including affordable housing.
Sharpe Pritchard was engaged from the outset of this project and is delighted to see another innovative and exciting joint venture procurement come to market.
The team was led by Justin Mendelle, who said: “The Council was clear from the outset that it wanted delivery at pace and this was very much achieved. This joint venture can provide a springboard for a host of development opportunities in Brentwood, from residential schemes to a major town centre regeneration.”
This project is the latest in a series of joint ventures that Sharpe Pritchard has advised on. Peter Collins, the corporate lead, said: “The market has matured in the last couple of years and both bidders and public bodies are able to move much more quickly in getting to their desired outcomes, which ultimately involves delivering great schemes for residents.”
This article is for general awareness only and does not constitute legal or professional advice. The law may have changed since this page was first published.
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