Wirral Growth Company is being set up as a 50/50 joint venture between the council and Morgan Sindall’s regeneration business.
The council’s cabinet will meet on 28th February to approve a recommendation to set up the company with Muse.
Sites in line for redevelopment include Bebington, Birkenhead, Bromborough, Moreton and Seacombe, with new homes, commercial, retail and leisure developments.
Council leaders also say they are keen to see regeneration take place in New Ferry following the gas explosion nearly 12 months ago.
Four consortia competed to be the joint venture partner for Wirral Growth Company, before Muse was selected.
During the four-month negotiations, bidding parties were asked to explain how they would go about creating new grade ‘A’ office space in Birkenhead, provide new affordable housing in Seacombe and extra care housing in Moreton, among other schemes.
Under the proposals, all the profits from the developments will be split 50/50, with the council’s share providing income to be reinvested in front-line services.
Council Leader Phil Davies said: “The standard of the final bids we received was very high. Those who say the council should or could do this alone are mistaken. These are projects which simply cannot be developed by the council in isolation: we don’t have the required resources, skills or capacity to achieve regeneration on this scale without a partner.
Wirral's plans [click on image to enlarge]