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Bournemouth Development Company LABV

  • Bournemouth Borough Council and Morgan Sindall Investments signed a deal to create the country’s second-largest Local Asset Backed Vehicle earlier this year.
  • BCC plans to commit up to 16 publicly owned car parks to the LABV, which will be developed into a mix of housing, business and leisure facilities.
  • The agreement is set to last for up to 20 years and represents a development value worth up to £500 million.
  • The deal is structured as a series of interlinking and interdependent projects.
  • Leyton Mount Car Park will be the first major site to be developed under the agreement, with plans in place for 83 new homes.
  • King Sturge acted as property consultant to the authority, while Pinsent Masons advised the council in a legal capacity.

 

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