Property investment partnership wins public ballot for regeneration scheme

Tuesday, March 02, 2010

Northumberland County Council has signed an exclusivity agreement with property investment partnership MKP.

By Ashley Brunskill

An "ageing" town centre could soon be given a new lease of life after property investment partnership MKP has signed an exclusivity agreement with Northumberland County Council.

The Journal Live reported that the developer was chosen by 77 per cent of the public in a ballot to regenerate Ponteland town centre.

Property investment partnership MKP will help deliver the £20 million community regeneration scheme and planning and development progress will be made over the next 12 months.

Sunil Mehra, a director at MKP and a Ponteland resident, told the newspaper: "We have very high aspirations for this project and are determined to create a scheme everyone is proud of and which will benefit future generations."

Planning and development will now get underway for a water feature, more green open spaces, new houses, a community centre and a library, as well as better car parking.

Northumberland County Council recently announced it had agreed to merge the area planning committees in both the east and the south of the county to save time and money and to increase efficiency.

Source: ask-re The Property People LLP