Joint Venture for Development of Multiple Sites in Suffolk

Suffolk County Council (the Council) has the ambition of delivering residential development in Suffolk. In order to realise this ambition, the Council is seeking to procure a private sector partner ('PSP') with whom to establish a 50:50 joint venture ('JV') development vehicle.The JV will be responsible for delivering multiple residential development schemes throughout Suffolk. The Council will commit sites to the JV for development and may also provide funding via loans or equity contributions.It is anticipated that the PSP will provide funding and services to the JV. Such services may include (amongst others) construction services and development management services.Following development, individual residential units or development parcels will be marketed and sold. Profits from the JV will be distributed to the Council and the PSP based on their equity holdings.