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How much funding is behind the Regeneration Company?

April 26, 2017COMPANY funding regeneration

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How much funding is behind the Regeneration Company?

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Tunbridge Wells Regeneration Company Ltd. is a joint partnership between Tunbridge Wells Borough Council and John Laing plc. The 50/50 partnership will see the Council and John Laing working together to bring forward civic, retail, commercial, community or residential property opportunities by redeveloping or regenerating assets currently within the Council’s portfolio, while ensuring satisfaction of the Council’s obligations to achieve best value. Upon completion each development will either be sold, or retained within the partnership to provide an income stream, dependent on market conditions at that time. All profits will be shared 50/50 between the Council and John Laing. The partnership is one of the first Local Authority Asset Backed Vehicles to be established in the UK and will last for (an initial) ten years.