There are many reasons to enter into the joint venture. Working in partnership with the private sector will enable the Council to:
- Use its own land as a catalyst for wider regeneration around the town centre.
- Take a holistic look at the town centre and bring about coordinated and strategic improvements.
- Utilise the specialist skills and financial resources of a stock market listed construction and investment company to complement the Council’s own in-house resources
- Ensure the Council obtains value for money and a beneficial future use for its landholdings.
- Provide the Council with a 50% share of the development profit to reinvest in public spaces.