The LABV will deliver a series of developments up to a total value of £1bn over a period of 15 years. The LABV will procure works from two other companies within the Morgan Sindall Group, namely Lovell Partnerships Ltd and Morgan Sindall plc.
Paul Smith, chief executive of Morgan Sindall Group plc, said: "Morgan Sindall Investments Limited is delighted to have this opportunity to partner with the Council to fulfil their vision for the regeneration of Slough. The LABV approach provides flexibility, ensuring that the Council can respond to the community's changing needs over time. We understand how important this project is for the community and look forward to delivering high quality developments through our Group companies, Lovell Partnerships Ltd and Morgan Sindall plc, as well as providing local employment opportunities, over the lifetime of the joint venture."
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The first phase of development includes a 4,480 sq m new build library and community facility ('The Curve') to be built by Morgan Sindall plc. Other community developments will include a new build Castleview secondary school and a new build leisure centre with ice rink.
Lovell Partnerships Ltd and Morgan Sindall plc are committed to providing work experience places, apprenticeships and direct employment opportunities to local people during the first phase of development. In addition, ‘meet the buyer’ events will be held for local SMEs to find out how they can secure a place on the supply chain for this project.
The first tranche of residential developments by Lovell Partnerships will provide 525 new homes, ranging from two to four bedrooms, across five sites with a gross development value of £105m. David Gough, regional director of Lovell in the southern region said: "It is a privilege to be working on such an important project for this area, giving the people of Slough over 500 top quality new homes. We're already looking forward to getting started on the first phase and can’t wait to hand over well-designed, spacious and high quality homes to the people of Slough. Working with our sister company Morgan Sindall, we will be able to help transform the area for the benefit of local people."
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