Development Partner Sought for Residential and Community Regeneration Project in UK

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Development Partner Sought for Residential and Community Regeneration Project in UK

Gloucestershire County Council, with The Ernest Cook Trust has sought Expressions of Interest (EOI) from suitably experienced development partners or promoters to deliver a vibrant and sustainable new community in Wisloe, Slimbridge (based within the boundary of Stroud District Council (SDC)) through the construction of circa 1,500 new homes along with 5 hectares of employment land, retail, community uses (including a primary school) and open space.

The land, owned jointly by the Council and The Ernest Cook Trust, is earmarked in SDC's draft Local Plan (submitted October 2021) for a new residential project. It presents an opportunity to create a unique rural community that addresses the demand for affordable housing in the Stroud district. Both parties aim to establish a long-term development agreement with a partner(s). The Council seeks a development partner willing to invest and collaborate over an initial 10-year term, extendable up to 20 years, to drive economic and housing growth.

The proposed role of the development partner/promoter is as follows:

  • to provide the majority or all of the required risk capital;
  • assemble and manage the professional team;
  • arrange construction contracts and secure funding; and
  • collaborate with the Council and The Ernest Cook Trust to oversee the development process and mitigate key project risks.
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