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25 February 2011, 09:37
Plans for a new 450 million pound waterfront development on the South Coast are a step closer.
Southampton City Council has chosen a developer for the Royal Pier site, near where the annual boat show is held.
Morgan Sindall Investments Limited (MSIL) will now start working on detailed plans for the development.
Councillor Royston Smith, Leader of Southampton City Council, said:
“I am sure a lot of residents are as pleased as I am that the Royal Pier Waterfront is being brought back to life.
MSIL is financially strong and will bring a large number of vital jobs to the city.
Despite the current financial climate Southampton continues to attract interest for developments in the city and the council is working hard to create many more jobs for residents.
I am confident MSIL will create a scheme that will place Southampton as one of the most dynamic waterfront cities in Europe, but also to create a legacy for the city of which everyone can be truly proud.”
Ernie Battey, Executive Chairman of MSIL commented:
“We are delighted to have been selected as preferred developer for this major waterfront scheme. Being South Coast based and familiar with Southampton, I know how important it is to achieve an exciting and vibrant development for which we can all be proud.
This key site provides the opportunity to position Southampton at the forefront of internationally recognised waterfront schemes and MSIL has the experience, knowledge and financial stability that will be crucial to its successful delivery.”
MSIL is currently working in partnership with Bournemouth Borough Council to redevelop Bournemouth town centre in a 20-year, £350m regeneration project. In Southampton, affordable housing and regeneration specialist, Lovell, also part of the Morgan Sindall Group, has recently started work on a £30m project to deliver three estate regeneration schemes for Southampton City Council.
The Royal Pier Waterfront development is a key element of the city’s masterplan, which outlines a vision for Southampton’s future. This is currently being drawn up and will go to public consultation later in the year.