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Developer selected for £450 million project
Morgan Sindall Investments Limited (MSIL) has been appointed preferred developer for the £450-million waterfront opportunity in Southampton, the Royal Pier Waterfront scheme.
MSIL is a leading project development and funding solutions company and is part of construction and regeneration group, Morgan Sindall Group.
The Royal Pier Waterfront scheme was marketed in May last year and three developers were shortlisted. MSIL has been appointed by Southampton City Council in discussion with its partners The Crown Estate and Associated British Ports (ABP), which jointly own the site. The development will include offices, residential, retail and leisure uses and provide better public access to the waterfront, an extended park and an improved site for the Southampton International Boat Show, safeguarding its future in the city.
Royston Smith, leader of the city council said: “I am confident MSIL is the right company to bring Southampton’s waterfront back to life. It is financially strong and will bring a large number of vital jobs to the city. It also has a good track record of working with councils delivering excellent developments.
“Despite the current financial climate, Southampton continues to attract interest for developments and the council is working hard to attract more
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jobs for residents. MSIL will create a scheme that will place Southampton as one of the most dynamic waterfront cities in Europe and create a legacy for the city of which everyone can be truly proud.“
Added Ernie Battey, executive chairman of MSIL: “We are delighted to have been selected as preferred developer for this scheme. Being south-coast based and familiar with Southampton, I know how important it is to achieve an exciting and vibrant development of 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, circa £350m regeneration project. In Southampton, affordable housing and regeneration specialist Lovell, also part of the Morgan Sindall Group, has 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, currently being drawn up by David Lock Associates. It will go to public consultation later in the year.
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Last push for a level cruise industry playing field
Southampton is making a last stand for a level playing field for the cruise industry, as plans remain afoot for public money to fund a turnaround port in Liverpool.
The leader of Southampton City Council was due to meet with Mike Penning MP at the end of March in a last attempt to put Southampton’s argument across to not grant state aid on a private industry.
Councillor Royston Smith said: “Southampton City Council has led the protests from the start. I’ve sent
several letters to both Mike Penning MP and the secretary of state for transport, and now we will make a last stand at this meeting. It’s vital our voice is heard. The Port of Southampton has positioned itself as the cruise capital of Northern Europe by means of private investment. Liverpool must do likewise. Around £400 million is boosted into the local economy by the cruise industry in Southampton this year. That is £400m that will benefit local tourism, transport and businesses, such as hotels,
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – APRIL 2011
restaurants and Southampton’s retail centre and a 15% increase compared to 2010.
“This is all by the means of private investment. I will do my utmost to convince Mike Penning that if Liverpool wishes to compete with Southampton it should repay its public subsidy and compete on a level playing field. To do otherwise is an abuse of public funding and must be considered as ’state aid’.“
Southampton is the largest turnaround port in Northern Europe
and 360 ships are expected this year. That is 55 more than in 2010. More than 2,240 jobs are now dependent on the cruise industry in the city.
Associated British Ports (ABP) has invested over £40m in Southampton’s cruise business over recent years, and plans to invest a further £30m with the construction of a fifth cruise terminal.
A final decision on state aid for Liverpool is expected to be made within weeks.
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