Mears lands £390m Milton Keynes deal

Contractor Mears has started work on a partnership worth just under £400m with Milton Keynes Council to regenerate seven areas of the city.

Following a kick-off meeting today, Mears will deliver repairs and maintenance for nearly 11,500 council homes, as well as regenerate the most run-down areas in Milton Keynes over a 15-year period.

The partnership will be in equal ownership between the council and Mears. It has a value of between £10-12m a year for repairs and maintenance and £12-14m a year for new build, as well as a share of surplus generated from new build opportunities. Over 15 years this totals up to £390m.

The partnership between Mears and the council was agreed at a council cabinet meeting last month.

The areas of the city set for a facelift are Beanhill, North Bradville, Coffee Hall, Fullers Slade, Lakes Estate, Netherfield and Tinkers Bridge.

Alan Long, executive director for Mears, said: “Everyone at Mears is really looking forward to working with the people of Milton Keynes on this exciting opportunity.

“Our experience tells us that the best solutions are always found when we carefully listen to the community and act on what we learn.

“One of our key commitments is to maximise opportunities for local people, who will benefit from a variety of employment and training programmes, in both trades and support services, which will be created throughout the project.”

Cllr Hannah O’Neill, cabinet member at Milton Keynes council responsible for housing and regeneration, said: “This is a great opportunity for us to work in partnership with local communities and the private sector to make a real difference to people’s lives.

“We believe that the partnership represents the best overall solution for achieving social, physical and economic regeneration across Milton Keynes for the benefit of all our citizens.”