Lovell lands £700m homes deal with Suffolk council

Suffolk County Council has chosen Lovell Partnerships to form a property development alliance to build nearly 3,000 homes.The joint venture will deliver new housing-led developments to be built on council land.Lovell Partnerships was identified as the preferred bidder following a nine-month procurement process.Contracts are expected to be concluded this spring with the joint venture established in the summer.Five initial locations have already been identified in Lowestoft, Mildenhall, Bramford, West Row and Newmarket, with capacity for a total of around 2,800 homes plus new schools, employment land and open spaces.Proposals include an option for further sites to be delivered by the joint venture in future should additional suitable council-owned land become surplus to requirements.Lovell Partnerships, part of the Morgan Sindall Group, is participating in a number of joint ventures with councils across the UK to support similar housing delivery aspirations.The 50:50 Suffolk partnership is intended to deliver around £700m of gross development value over the course of the proposed 15-year agreement, with the option to extend to a further five.The partnership will benefit from working with other companies within the Morgan Sindall Group, as well as local suppliers, to enable it to deliver the works at pace.