Concern about the country’s need for more housing and interest in all aspects of residential investment has never been greater. As new approaches to the housing market are developing, more innovative and pragmatic advice is required. Our cross practice team is equipped to assist, whether this involves new residential funds, the restructuring of existing deals, development projects finance or investment facilities.
We have a multi-disciplinary team focussing on residential property as a new investment class, whether this is private rental, affordable housing or development for sale. Our expertise ranges from estate renewal and PFI to capital markets, the use of government guarantees, REITS and offshore funds
While many advisors may be new entrants to this market, we have been advising the residential sector for many years. We are involved in innovative funding transactions with registered providers and have been at the forefront of the most significant new private rental transactions.
We are familiar with the issues that go with residential property: housing regulation, government funding, VAT, tax, management, district heating, health and safety, data protection, tenant rights (enfranchisement, security of tenure and service charge) and dispute resolution.
We are committed to working with our investor, banking and developer clients in looking at residential property as an investment class in its own right as they look at ways to capitalise on the growing interest in all aspects of the sector.
The leading PRS operator, Fizzy Living has a number of sites across London and South East. We have advised Fizzy Living on development and equity financing, most recently advising on all aspects of their forward purchase from Bellway Homes and Family Mosaic of 43 new-build apartments at New Festival Quarter, Upper North Street, Poplar, London E14.
We have been providing advice on the funding to Qatari Diar Delancey to enable it to develop more than 900 apartments in two new residential towers at the East Village, in the former athletes’ village on the Olympic Park.
Wood Wharf is a multi-phase regeneration scheme which will involve 4.9m sq ft of development and more than 3,000 new homes, both sale and rental, adjacent to Canary Wharf. We have been advising the HCA on the £200m funding to Canary Wharf Group to provide the infrastructure and assist with the construction of the first four residential towers.
Once completed, the 12.8 acre redeveloped Chelsea Barracks site will have up to 448 homes, five acres of gardens, a public sports centre, shops and a children’s playground. We have been advising in relation to all design and construction aspects of this high profile and politically sensitive £3 billion scheme, including developing a flexible procurement strategy for multi-phased development of residential accommodation together with associated infrastructure and public realm aspects. We have also advised them on their master planner and other professional team appointments.
The mixed-use development of the Shell Centre site on London’s South Bank for Canary Wharf and Qatari Diar is one of the largest developments in London. It will comprise up to 798 homes, 76,000 m sq. of office floor space including a new headquarters building for Shell, up to 6,000 m sq. of retail floor space and up to 2,500 m sq. of community leisure space as well as associated basement, plant and infrastructure. We have advised the Canary Wharf and Qatari Diar joint venture on the planning, forward funding agreements and provided strategic construction procurement advice including developing template professional appointments and trade contracts for multiple phases of development.
We have been advising on one of the South East's major urban regeneration projects forming part of the Government's Thames Gateway initiative. The mixed-use development of Ebbsfleet and Eastern Quarry comprises c 9,000,000 sq ft new Channel Tunnel and Domestic Railway stations, offices, retail and 3,000 residential dwellings (Ebbsfleet) and 6,250 dwellings with extensive office/retail and infrastructure.
Potentially a 15 year project, the University of Cambridge's 120 hectare major development project will comprise a million sq ft of research and development space, 3,000 residential units (1,500 of which are to be for key worker), student accommodation, retail uses and community facilities. We have been advising on planning, construction and real estate aspects of project.
Lead advisors to the HCA, we have recently advised on funding transactions in the residential sector with developers including Canary Wharf Group, Qatari Diar Delancey, Grainger, Berkeley, Crest Nicholson, Mill Group and Bovis Homes as well as registered providers including Notting Hill and Genesis. We have also worked with HCA on funding transactions with banks and investors such as Barclays, M&G and RealStar.
Our team have been acting on the appointment of a development partner for East Wick and Sweetwater, areas within the Queen Elizabeth Olympic Park which will be developed, in partnership with Balfour Beatty and Places for People, to provide 1,500 affordable, private sale, and PRS units.