Thirty-year arrangement will pump investment into Essex borough’s housebuilding activity

Brentwood council

Brentwood council has signed a £1bn joint venture deal with Morgan Sindall’s investments arm to deliver new homes, public spaces and community facilities across the borough over the next 30 years.

The 50:50 joint venture, the Brentwood Development Partnership, was approved at a full meeting of the council at the end of last month.

Brentwood said it would contract work through its wholly owned property company, Seven Arches Investments.

The council said the JV would initially focus on three sites – two car parks and a set of garages – to provide an as yet unspecified number of homes, as well as new leisure and community facilities.

Morgan Sindall Investments (MSI) was announced as the council’s preferred partner in March this year, after the local authority carried out a competitive procurement process.

The deal is Morgan Sindall’s fourth long-term local authority JV, following deals with Bournemouth, Slough and Hertfordshire councils forged over the past eight years.

Brentwood council will also use the JV to act as a central purchasing body for other local contracting authorities across Essex to procure similar partnership arrangements with MSI.

Wes Erlam, MSI’s managing director, said his firm’s model “transforms communities and generates funds from land receipts and development profits, helping local authorities to protect frontline services.

“We are looking forward to working with Brentwood council to fulfil its ambitious vision for the borough and delivering high-quality and sustainable development at pace and scale.”

Brentwood borough council leader Chris Hossack said the JV approach to delivering new investment would allow the local authority to retain control over how its land is developed, as well as the rate and extent of that development.

“It is a real opportunity to allow the community to thrive and grow, and by redeveloping the borough over the longer term we will be helping to improve the lives of people living and working here,” Hossack added.

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