Partner Article

Major regeneration joint venture signed to invigorate key Sunderland sites

Siglion, a new joint venture company formed between Carillion and Sunderland City Council with Igloo Regeneration providing development and asset management services is now officially underway.

A new joint venture agreement to regenerate and develop major sites across Sunderland has now been signed.

The innovative company, branded as Siglion, will redevelop key areas across Sunderland in an ambitious, long-term initiative.

It has also acquired an investment portfolio of industrial, retail and office property across the city from Sunderland City Council.

These will be actively managed by Siglion to increase their value, job opportunities and economic return to the city and wider region.

There will be at least £100 million of development by Siglion over the first eight years.

Leader of Sunderland City Council, Cllr Paul Watson, said: “It’s fantastic news that Siglion can now drive forward the city’s largest-ever development programme.

“The signing is a major step forward in propelling regeneration and economic growth that will transform key city sites.

“It also ramps up our ability to attract new investment, following on the major works currently being carried out in Sunderland.

“We are excited about working with our partners who are as committed as we are to the long-term success of the city.”

Partnerships Director of Igloo Regeneration, John Tatham, said: “In agreeing the details of this joint venture with the City Council, Igloo and Carillion are dedicating investment and resources to deliver this regeneration, spearheading a step-change in the Sunderland economy.”

Development Director, Carillion Developments, Neil McMillan, said: “Signing this transformational joint venture is an important milestone for Siglion and Sunderland.

“We now look forward to engaging with local businesses and key stakeholders who are keen to play their part in helping to deliver this vision for Sunderland.”

Want your business, product or service to be seen regionally and nationally? Bdaily helps you get your story in front of the right audience, every day. Find out how Bdaily can help →

Join more than 55,000 subscribers by signing up to our daily bulletin each morning here.