Kier Property appointed as Joint Venture partner for Transform Leatherhead redevelopment of Bull Hill and the Swan Centre
Following the Cabinet meeting on 22 March 2022 and the subsequent expiry of the required procurement standstill period, Mole Valley District Council (MVDC) is delighted to announce Kier Property – investors and developers of sites across the UK and specialists in urban regeneration – as the 50:50 Joint Venture partner for the redevelopment of the Bull Hill and Swan Centre sites, two key projects of Transform Leatherhead.
Over the past 12 months MVDC has worked in conjunction with property consultants Montagu Evans and external legal advisors Freeths LLP to secure the Joint Venture partner, through a robust and structured three-stage down-selection procurement process.
MVDC and Kier Property are now working to secure financial and legal agreements to formalise the joint strategic partnership.
With discussions progressing well, the partnership now aims to start reaching out to stakeholders in the summer of 2022, in order to plan the first phase of engagement activities and finalise social value metrics to incorporate into the business plan.
The two strategic locations of Bull Hill and the Swan Centre cover a combined area of 10.15 acres / 4.1 hectares. In accordance with the Transform Leatherhead Masterplan objectives, the joint venture aims to deliver residential, commercial and retail infrastructure, as well as new public facilities across an 8-10 year programme of development and investment, with an estimated gross development value of £350m.
Councillor Keira Vyvyan-Robinson, MVDC Cabinet Member for Projects, said: “We are pleased to be able to announce Kier as our Joint Venture partner for the redevelopment of the Swan Centre and Bull Hill. Kier not only bring technical excellence, innovation and technology to the partnership but, more importantly, extensive in-house experience of complex public-sector regeneration projects.”
Councillor Stephen Cooksey, Leader of MVDC, also said: “The appointment of Kier Property as the Joint Venture partner for the regeneration of Bull Hill and the Swan Centre marks a major milestone in the Transform Leatherhead scheme. We look forward to a successful working partnership and delivering significant transformational change for the town of Leatherhead.”
Leigh Thomas, Managing Director of Kier Property, commented: “We are delighted to have been chosen by MVDC to deliver its Transform Leatherhead proposals to enhance the leisure, entertainment and cultural offering of the town centre, improve accessibility, work with businesses and deliver an attractive town centre providing high quality public realm and significant social value for Leatherhead. We look forward to working alongside the team at MVDC over the next few years to deliver our shared vision utilising all the skills of Kier.”
John Percy, Partner at Montagu Evans and head of its town centres team, further commented: “This will be a truly transformational scheme, bringing forward a wider range of uses to better serve the local community and contribute to the area’s economic growth. It’s a clear reflection of how the market is evolving and the need to think differently about our town centres, from drivers of change right through to delivery strategies.”
For further information please visit the Transform Leatherhead website.