Shoosmiths’ build to rent (BTR) team, led by Judy Fawcett, worked with industry leading developer, Packaged Living Ltd, on the development and sale of Milton Keynes’ BTR scheme of 300 apartments.
The Shoosmiths team led on the sale of the BTR and Aparthotel sites, which were the last plots of a wider 1.8 acre regeneration scheme in the city.
Once completed, the developments are set to be worth £100m. At 17 storeys, it will also be the largest BTR scheme in Milton Keynes. Shoosmiths negotiated the forward sale and funding agreements with Invesco as purchaser - global investment managers - and all associated development and release agreements with Thamesway and HCA. The firm also prepared a Certificate of Title and dealt with all of the development and construction documents.
Shoosmiths negotiated the sale agreement for the Aparthotel site and associated release documents from the HCA, which was sold to Fernbrook.
This deal won a ‘Highly Commended’ for Best PRS Deal at the prestigious RESI 2020 Awards. Shoosmiths won Law Firm of the Year at the same awards.
Read more about this deal on Packaged Living's Website.
Disclaimer
This information is for educational purposes only and does not constitute legal advice. It is recommended that specific professional advice is sought before acting on any of the information given. © Shoosmiths LLP 2024.