Why are we creating a Growth Company?

We want to drive and accelerate regeneration and economic growth across Wirral. It’s about The Council acting in a more imaginative and dynamic way to deliver for our communities.

How will it be structured?

The Growth Company will be a 50 / 50 joint venture between The Council and our selected private sector partner. It will match Council land with private sector development and investment expertise to drive growth through a stream-lined and dynamic new organization.

What makes it different and what are the main benefits?

Because Council’s have fewer resources and need to find new ways to deliver regeneration and finance essential services. We can deliver regeneration more quickly and with a more ambitious vision to improve neighbourhoods, create jobs and build a successful and sustainable economy for the future. The Council will take a share in the profits of major development projects which we can re-invest and use to support essential services.

What will it do?

It will deliver major projects like the redevelopment of Birkenhead Town Centre and waterfront but it will also be nimble and imaginative, unlocking the potential of smaller sites and neighbourhoods. The Growth Company is strongly committed to working with communities and will involve residents, business in all its plans.

What happens next?

We’re starting the search for our strategic investment partner. We’ll be talking to some of the biggest UK and international property and development companies to select the ideal partner for Wirral. Our preferred partner will be selected before the end of this year, and work on the first tranche of projects will begin early in 2018.

These are the next steps…

#1

OJEU notice out

#2

All bids received

#3

Shortlist decided and contact letters sent

#4

Competitive dialogue

Decision made on the first project commencement.

The final decision on the investment partner will be made towards the end of 2017, with the first key project due to commence at the start of 2018.