Watford begins search for £200m regeneration partner

Watford council has fired the starting gun on its search for a joint venture partner for a £200m regeneration project around the borough’s town hall.

The council wants to form a 50/50 limited liability partnership with a private sector firm to build and progress the masterplan for a mixed-use scheme made up of 300 homes, new public realm and infrastructure.

The development will also include retail and commercial spaces, public government buildings, NHS clinics and education facilities.

The council said it will secure the future of the borough’s grade II-listed town hall and the historic Watford Colosseum, both built in 1938.

Funding of £2.1m to progress the scheme was approved by the council in January.

Watford mayor Peter Taylor said the authority was looking for a partner “who can blend a good understanding of heritage with leading edge design and innovation”.

The council said it will invest its land in the JV and will act as a senior lender for the scheme, with the JV partner to provide development expertise and access to funding, ultimately sharing in any profit from the sale of the site.

Architect Feilden Clegg Bradley Studios has already been appointed to the design team with Mace, Ion Consulting and SFK Consulting also on the project team.

The council will shortlist a maximum of four candidates for the deal with a deadline of 17 May for requests to participate being sent in.

Invitations to tender are due to be dispatched on 14 June.