Eversheds has advised Carillion on its £800m landmark partnership with Sunderland City Council, which will secure regeneration activity within Sunderland and the wider North East region.

Carillion, in consortium with Igloo Regeneration, has entered into a 20 year partnership with Sunderland City Council to deliver the £800m regeneration programme.

Carillion and Igloo were selected following a procurement process run by the Council. The partnership involves a number of key development sites across Sunderland city centre, including the Vaux development site. Other key re-development sites include Seaburn, Chaplegarth, Farringdon Row and Seaburn. It also involves a portfolio of investment properties which the partnership will manage over the course of its term.

The long term partnership is underpinning by a joint venture structure involving Carillion and the Council as equity participants and Igloo as development manager.

The Eversheds team was led by partner Kuljeet Gill with a team including partners Stephen Sorrell and Jonathan Bowley, supported by associates Alex Brown and Marc Ferster.

Kuljeet Gill commented:

“The establishment of this partnership marks a significant achievement for Carillion, Igloo and the Council. It promises to invigorate key regeneration and development activities in Sunderland and is underpinned by an innovative joint venture and funding structure to ensure that investment can be harnessed into Sunderland to bring forward these sites for delivery.”