BLP advise on landmark development agreement to regenerate Swindon Town Centre
Berwin Leighton Paisner (BLP) and Osborne Clarke (OC) have advised on a development agreement to transform Swindon town centre with the £350m mixed-use regeneration scheme to be known as Union Square.
BLP advised Muse Developments, one of the country’s leading names in commercial development and urban regeneration, while OC advised the New Swindon Company, the body established to oversee the regeneration of Swindon town centre.
During the course of legal negotiations the changing market conditions increased the complexity of a deal of this scale. In addition to delivering new buildings, Union Square will include a range of new public realm and facilities to improve local people and the visitor’s experience of Swindon. These include the provision of new streets and attractive new open public spaces, a new and improved bus interchange, a new facility for the Primary Care Trust, and high quality car parking in a new multi-storey car park.
Furthermore, in close co-operation with OC, BLP successfully achieved the required outputs for each of the three public sector bodies – Swindon Borough Council, South West RDA and English Partnerships, whilst maintaining a viable scheme throughout. The public sector interests were co-ordinated by The New Swindon Company. The BLP team primarily consisted of lead partner Tessa Kimber, Head of Projects and senior associate Mark Pratt in Real Estate.
The Osborne Clarke team was led by Real Estate partner David North.
Commenting on the deal, Tessa Kimber said: “To have advised Muse Developments on this landmark urban regeneration scheme was not only testament to our continued strong relationship with them but also a great project for both firms as a team. BLP has been involved in advising commercial developers for many years so we were particularly pleased to have been selected to act on this scheme for Muse Developments. We very much look forward to continuing with them a long and successful relationship.”
David North said: “This is to be one of a number of regeneration projects planned for the town of Swindon. It has been fantastic to see The New Swindon Company’s vision starting to become a reality and we look forward to assisting the Company in the long term to achieve the rest of their ambitions for Swindon.”
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