Private/public partnership hailed after first year of work
PUBLISHED: 07:38 23 June 2016
A landmark partnership project which is driving the development of Thetford's new cinema and hotel complex has been hailed a success after its first year of work.
Breckland Bridge was launched last year as a joint venture between Breckland Council and the Land Group.
The deal sees Land Group develop sites owned by the council, with the profits from the schemes shared.
It has since taken on the development of a housing site at Mileham, another at Attleborough, and the Thetford Riverside project.
David Winch, director of Land Group, said it was proving to be a fruitful partnership.
“We are very pleased with the progress of the last year and all the projects are where we want them to be.
“Breckland has some good people who believe in the projects and this partnership is a great way to deliver regeneration and new housing,” he said.
Of the three initial projects, Breckland will take 90% of the profit, with the Land Group taking the remaining 10%.
But future projects would see profits split equally, according to Mr Winch.
William Nunn, leader of Breckland Council, said the partnership had been “incredibly productive”.
“Once the three initial projects have been successfully delivered, we expect to discuss further opportunities to take on new and exciting projects which – like our current initiatives – will aim make the most of our assets to directly drive growth and development in the district and bring maximum benefits for local people,” he said.