We empower our clients to achieve more such as transforming a town
Changing the face of a town is no small task. Helping to make sure that the needs of public and private sector partners are met through a successful project structure is an essential part of making sure that the change happens at all.
Bournemouth Borough Council had a vision for its town centre, and knew that it needed private sector developers to help deliver it. But with almost as many business models as bidders and a complex EU procurement process to navigate, the Council turned to Pinsent Masons for answers.
Designing a procurement process that created a competitive environment and took account of the fact that competing funders and developers were proposing completely different plans was just the beginning.
Once a partner and a vehicle for the project were chosen it was vital to get the joint venture vehicle off the ground and operating before the Council could transfer land to it. But this had risks, and costs. So we created a structure that allowed the private sector capital to flow into the vehicle at different risk levels, meeting the needs of the Council on terms acceptable to private sector partners.
Getting this £500 million, 16-site project moving demanded that we understand the needs not only of Bournemouth Borough Council but of the people it was depending on to make it happen.