West Sussex County Council today (March 26) said it had created a "property development initiative" between itself and homebuilder Lovell Partnerships Limited.
In its announcement, the local authority called the developer's parent company, Morgan Sindall Group plc, a "leading development and construction company" with which it was planning a "long-term joint venture".
Its intention is to develop what the authority is terming "surplus County Council land" into new homes and commercial premises.
It said the joint venture was intended to maximise the financial and wider returns from surplus land — with a hope that the extra funds generated could be reinvested across West Sussex to support the wider aims of the County Council.
Jeremy Hunt, West Sussex County Council Cabinet Member for Finance, said:
"Whilst a straightforward sale of land on the open market is appropriate in some circumstances, opportunities exist to return higher financial outcomes for the County Council.
"We can then reinvest these additional proceeds in our frontline services, supporting residents across West Sussex."
Steve Coleby, Managing Director of Lovell, said:
"Partnership working is at the heart of what we do and we are looking forward to helping the Council realise its ambitions to deliver high quality new homes and commercial developments in successful and resilient communities.
"This year marks the 50th anniversary of the first Lovell partnership scheme.
"There couldn't be a more fitting way to mark it than forming this long-term partnership with a shared commitment to increase the scale, pace and quality of new homes across West Sussex."
The County Council has confirmed it has a number of sites across West Sussex that the Joint Venture partnership will be looking to bring forward for development in the coming months, subject to receiving the necessary planning permission.
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