News / MegaProject 1211: Mace wins US$500 million contract to regenerate UK town centre

MegaProject 1211: Mace wins US$500 million contract to regenerate UK town centre

🕔 February 23, 2018
MegaProject 1281: US government deny US$250 million grant to Alabama bridge PPP

This article is part of a daily series of MegaProjects articles. If you want to know more about PPP projects with a considerable size visit our MegaProjects section. You can receive them by email on a daily basis.

The Borough Council of Stevenage, a town and borough in Hertfordshire, England, roughly 50km north of central London, has appointed the developer Mace to undertake the first phase of its town centre regeneration project, with construction expected to start next year.

Mace was selected as the successful partner from three other national developers that competed to win the project. The planned development is for the western side of the town centre, where the council offices, the Plaza, bus station and several surface car parks are currently located. The Plaza is a Town Centre leisure and licensed premises development which houses food outlets and a health club. 

The site to be developed is comprised of a number of plots, extending to 14.2 acres (5.75 hectares) overall. The Council owns the freehold of a significant proportion of the site with the balance owned by other public sector bodies and third party landholders. 

Mace’s plan for the site includes new shops, homes, and a bespoke central venue for a library, exhibition space, health services and council offices. It will also create a new linear park, and food and drink space with bars and restaurants in the heart of the town for people to enjoy. The company has stated that it will submit proposals for public consultation later this year.

The scheme brings around GBP350 million (US$487.2 million) of private investment to the town.

This award is the result of more than two years of work by the Stevenage First partnership, a consortium of economic and political influencers in the region, which oversaw the development of Stevenage Central Framework, the 20-year programme to regenerate the town centre. Since its launch in 2015, the consortium has commissioned and financed studies on transport and infrastructure among other areas that have informed this project.



League Tables

InfraPPP accepts project & transaction submissions to ensure that the data we have in our databases is accurate.

Download Submission Form  Download Submission Form

Newsletter

Subscribe to our newsletter and get in your inbox jobs, news and business opportunities.


PPP Africa Forum
Latin America & Caribbean Gas

Follow us on Twitter