Land Securities Trillium and Mill Group have reached an agreement in principle to create a joint venture company through which Land Securities Trillium will become a 50/50 joint venture partner in the key part of Mill Group’s Investors in the Community (IIC) programme which bids for and manages the delivery of socially responsible Public Private Partnership projects in healthcare and education to local communities. The involvement of Land Securities Trillium will bring a greater breadth of expertise, capacity and resources to support public sector partners in delivering improved education and community services and to drive regeneration.
Joint venture to drive forward IIC programme projects
The formation of the joint venture company, which will
be called Investors in the Community Group Ltd, will expand Mill Group’s
existing business and build on the successful, ongoing collaboration between
the two organisations. The commitment to joint activity will also enable
Investors in the Community to expand rapidly, while accelerating Land
Securities Trillium’s strategic move in the Government’s BSF marketplace. Ian
Ellis, chief executive of Land Securities Trillium, commented: “This new
venture will substantially increase the potential scope of projects that both
organisations can now target. By combining Land Securities Trillium’s financial
and operational strengths and the existing expertise and marketleading position
of the IIC programme, we are confident that we can develop a new and compelling
offer to meet the growing appetite for specialist PPP provision.”