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John Laing forms £450m JV with Croydon Council

John Laing has formed a £450 million pounds joint venture with Croydon Council to develop four sites in south London, including two 40-storey residential blocks and a new council head office

Croydon Council will receive half the profits and retain an interest as a partner-landowner.

"The first deal of its kind, this is a new model of public private partnership, utilising an asset backed Urban Regeneration Vehicle (URV) into which Croydon Council will invest land and John Laing equity," the company said in a statement.

John Laing said the 25-year URV partnership would provide the phased regeneration of four important sites.