Over the past 12 months MVDC has worked in conjunction with property consultants Montagu Evans and external legal advisors Freeths LLP to secure the Joint Venture partner, through a robust and structured three-stage down-selection procurement process.
MVDC and Kier Property are now working to secure financial and legal agreements to formalise the joint strategic partnership.
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With discussions progressing well, the partnership now aims to start reaching out to stakeholders in the summer of 2022, in order to plan the first phase of engagement activities and finalise social value metrics to incorporate into the business plan.
The two strategic locations of Bull Hill and the Swan Centre cover a combined area of 10.15 acres / 4.1 hectares. In accordance with the Transform Leatherhead Masterplan objectives, the joint venture aims to deliver residential, commercial and retail infrastructure, as well as new public facilities across an 8-10 year programme of development and investment, with an estimated gross development value of £350m.
Councillor Keira Vyvyan-Robinson, MVDC Cabinet Member for Projects, said: "We are pleased to be able to announce Kier as our Joint Venture partner for the redevelopment of the Swan Centre and Bull Hill. Kier not only bring technical excellence, innovation and technology to the partnership but, more importantly, extensive in-house experience of complex public-sector regeneration projects."
