The 50:50 joint venture, to be known as Brentwood Development Partnership, will develop new homes, commercial and leisure facilities on council-owned land.
The partnership鈥檚 concession period is 30 years and the potential contract value is put at 鈥榰p to 拢1bn鈥�.
Morgan Sindall Investments also has local authority partnerships in Bournemouth, Hertfordshire and in Slough, where funds raised from land receipts and development profits have helped minimise council spending cuts.
Wes Erlam, managing director of Morgan Sindall Investments, said: 鈥淢organ Sindall Investments is delighted to have achieved this milestone with Brentwood Borough Council. We look forward to working together to optimise opportunities from a portfolio of developments and responding to the changing needs of Brentwood鈥檚 community over time.鈥�
The JV will retain and manage certain properties that are developed and there will be opportunities for the council to acquire properties, including affordable housing.
In addition, Brentwood Borough Council is acting as a central purchasing body through which other local contracting authorities in Essex may procure a substantially similar partnership with Morgan Sindall Investments.
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