29 March 2016
Telereal Trillium has been appointed onto a 4-year Promoter Framework for Central Bedfordshire Council, to fund, manage and lead the planning and disposal process for the Council’s surplus land and buildings, along with four other companies.
A 68 hectare (168 acres) site near the town of Arlesey, Central Bedfordshire is the Council’s first disposal as part of the Framework. Telereal Trillium was appointed from the Framework to partner with the Council.
This ground breaking public/private partnership supports the acceleration of supply for residential units being brought to market. Central Bedfordshire Council will retain ownership of the land, while Telereal Trillium will lead and fund the planning consent process, investment in site infrastructure, and subsequent disposal of the consented land to the house builders.
The Framework is open to neighbouring public authorities/bodies of Central Bedfordshire Council, and also to 17 other local authority members on the Central Buying Consortium.
Arlesey is a small town, three miles north-west of Letchworth Garden City, four miles north of Hitchin and six miles south of Biggleswade. A dedicated railway station provides fast services to London’s Kings Cross in 37 minutes.
The site is allocated for residential (circa 850 units), employment, retail and education uses, subject to planning.
A main, critical infrastructure item that was under consideration was the relief road. The relief road will provide a clear route through the development for vehicles, cyclists and pedestrians that relieves traffic from other parts of Arlesey. Planning consent was granted in March 2016.
It is anticipated that the relief road construction could commence in 2017, unlocking the site for a residential led redevelopment as anticipated in Central Bedfordshire’s adopted Arlesey Masterplan 2014.
Graham Edwards, Chief Executive at Telereal Trillium said: “We are delighted to have been appointed onto the 4-year Promoter Framework and to be promoting the surplus site at Arlesey for Central Bedfordshire Council. This promoter partnership is the first of its kind being implemented in this context and will act as a catalyst for future partnerships, with similar requirements.”
Cllr Richard Wenham, Executive councillor for Corporate Services at Central Bedfordshire Council said: “As a council we want to do what we can to support the building of new homes and jobs and so freeing up sites such as this one is important to us. Through partnering with specialist companies such as Telereal Trillium we hope to maximise the yield from our surplus assets. Raising more money through sales to fund investment in our local services reduces our borrowing requirement.”
Subject to further planning consents, new housing could be made available for occupation from 2019.