The £450m joint venture between John Laing and Croydon Council plans to regenerate significant sites across Croydon town centre and deliver new flagship council headquarters.

The first deal of its kind, this is a new model of public private partnership, utilising an asset backed Urban Regeneration Vehicle (URV) into which Croydon Council will invest land and John Laing equity.  Through this limited liability partnership, the council will receive a 50/50 share in profits and will maintain ongoing control of its extensive regeneration agenda by retaining an interest as a partner-landowner as well as through utilising its planning powers.

The 25 year URV partnership will provide a brand new 240,000 sq ft headquarters office building for the council as well as almost 20,000 sq ft of retail space.

The project will also deliver the phased regeneration of four important town centre sites with the creation of two 40 storey towers with approximately 650 residential units; a combination of both private and affordable accommodation.  In total the four sites will create approximately 1,250 new residential units, to be delivered between 2012 and 2017.