Barking and Dagenham Council has approved a new partnership aimed at accelerating development across the borough, with two preferred partners – Bidder A and Bidder B – appointed to form regeneration partnerships for Barking. Bidder D has been named as a reserve bidder.
The Cabinet, meeting on Tuesday, March 24, 2026, agreed to this initiative which seeks to boost high-quality, residential-led development that includes commercial and mixed uses as appropriate, in accordance with the Regeneration Plan. The overall objectives include increasing the supply of new homes, employment space, and commercial space.
This approach aims to reduce the council's reliance on borrowing by utilising private capital. The council will retain 50% ownership and influence over site selection, with the aim of generating land value and financial returns commensurate with the risks involved. The preferred bidders have put forward viable options that minimise the requirement for future capital borrowing and are expected to return a positive financial return to the council upon completion.
A further £195,000 was approved to establish the second regeneration partnership, bringing the total budget for this phase to £475,000. This funding is part of a broader strategy to regenerate Barking and deliver inclusive growth across the borough.
Councillor Cameron Geddes, Cabinet Member for Regeneration and Economic Development, highlighted the shift away from council borrowing for regeneration projects. Financial circumstances have changed,
he stated. Now we want to rely less on Council borrowing. One of the ways forward we can do this is to have a regeneration partnership. This still means we retain considerable influence. We have 50 per cent ownership. We'll get to decide which sites as well.
The council also aims to ensure that the development is inclusive and benefits existing residents. As a 50% owner of the Regeneration Partnership, the council retains substantial influence and has the ability, though not the obligation, to acquire affordable homes delivered by the partnership. This aligns with the council's Corporate Plan objectives, which include ensuring residents benefit from inclusive growth, live in safer, cleaner, and greener neighbourhoods, and have access to good housing.
The regeneration partnership model reduces reliance on council borrowing by utilising forward-funded development with private capital. This approach helps to mitigate risks, as they are shared between partners. Any aborted costs would be shared, and the council can choose not to invest in further sites if it deems necessary. Risks associated with housing development, such as contaminated land and increasing build costs, are acknowledged and managed through this shared-risk model.
Following the formation of the Regeneration Partnerships, the partners will prepare a Regeneration Plan and individual Project Plans. A further report will be presented to the Cabinet in summer 2026 seeking approval of these plans. The selection of sites for regeneration will be at the Council's discretion, subject to Best Consideration and Value-for-Money requirements.
More information on the council's regeneration plans can be found in the Public reports pack for the Cabinet meeting on Tuesday, March 24, 2026 [https://lbbd.moderngov.co.uk/documents/g13724/Public%20reports%20pack%20Tuesday%2024-Mar-2026%2019.00%20Cabinet.pdf?T=10].
