The London Development Agency (LDA) is looking for a private sector development partner to deliver housing and regeneration projects on various sites across the capital.
The Agency is setting up the London Housing and Property Company (LHPC) which is intended to “bring together the private sector's acumen and capital and the public sector's capacity to develop large-scale sites”.
The LDA said it has already identified several sites with a capacity for 5,300 homes, subject to planning consent. It now wants to set up a special purpose vehicle, involving public and private sector, to deliver financing and construction of new homes and housing regeneration.
The private sector partner would enter into a framework agreement, and would probably provide most of the funding, possibly on a design, build, finance, and operate basis.
The partner would be given exclusive rights to develop a series of sites owned by the LDA, plus the opportunity to develop schemes on local authority land.
The Agency said it plans to formally advertise for the role in October 2010.