Construction services company Carillion has been selected by Sunderland city council to form a strategic partnership and deliver a range of property services for the city's regeneration plan.
The contract will focus on the redevelopment of sites across the city, worth £100m in the first eight years and potentially £800m over the next 20 years. The sites to be redeveloped will largely be under-used publicly owned land.
Paul Watson, leader of Sunderland city council, said:
The chance to take part in an ambitious, long-term initiative attracted bids from a number of leading UK companies. We were delighted at the high standard of the shortlisted bids and it was a difficult task to choose the preferred bidder, but the commitment, track record and approach of our chosen partner gave it the winning edge.
Igloo Regeneration has the responsibility for supporting the joint venture, providing development and asset management services. Other companies shortlisted for the project included Langtree Land and Property, Barratt Developments, and Kier Construction.