Carillion secures Sunderland regeneration partnership
Carillion has been named as development partner for Sunderland City Council as the local authority embarks on ambitious plans for the regeneration of the north-east city.Valued at approximately £100 million over the first eight years and up to £800 million over the next two decades, the contract will see Carillion take on construction responsibilities for the delivery of new homes, retail accommodation and amenities at the Vaux site - an area that has stood empty for the last 14 years following the closure of the brewery in 1999.Situated next to the River Wear and covering 26 acres in total, it is a prime development area and one the council has been looking to reinvigorate for more than a decade.Other areas that will also fall under the responsibility of Carillion for regeneration as part of this new successful partnership include Seaburn, Chapelgarth, Farringdon Row, Holmeside and parts of the East End.It promises to be a lucrative deal for both parties over the coming years and will deliver a much-needed boost to homes and services across the city.Councillor Paul Watson, leader of Sunderland City Council, commented: "We were delighted at the high standard of the shortlisted bids and it was a difficult task to choose the preferred bidder, but the commitment, track record and approach of our chosen partner gave it the winning edge."This decision marks an important milestone in the joint venture agreement, which will breathe new life into under-used publicly owned land in prime sites for development."Carillion chief executive Richard Howson added the firm is "delighted" to have been chosen to take on this challenging task and he looks forward to working in partnership with the local authority to deliver major benefits to the people of Sunderland, as well as acting as a driver of further investment in the area over the coming years.
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