National law firm Shoosmiths has advised client Citygrove Securities Plc and subsidiary Albemarle Developments Ltd on the major redevelopment in Telford's Town Centre.
Citygrove was selected by Telford and Wrekin Council as development partner for the leisure element of the wider £250m regeneration of Southwater Square. The project has taken two years to build and includes an 11 screen IMAX cinema, a hotel and 8 restaurants. The development lies between Telford Town Centre and the picturesque Telford Town Park.
Shoosmiths' Steve Wiltshire (client partner) and Brian West from the real estate team, advised the client on the purchase of the development, the joint venture arrangements with the borough of Telford and Wrekin and the pre-letting arrangements to Cineworld, Premier Inn and a number of restaurant operators. Heidi Brennan and Steve Cock from the construction team were instructed to advise on all legal aspects relating to the construction of the project and partner Kirsten Hewson and Paul Weeks in relation to all planning matters. The teams worked together to deliver the project and advised on the forward sale of the investment to M&G Real Estate (formerly Prupim).
Shoosmiths' Steve Wiltshire, said: 'Our work with long-standing client Citygrove demonstrates the strength and depth of our real estate teams here at Shoosmiths and underscores our expertise in development, planning and construction work.
'We are very proud of the work we have done for Citygrove, and wish them every success.'
Toby Baines, Chairman of Citgrove Securities PLC, said: 'Achieving what we have with this project would not have been possible without the exemplary legal advice we received from Steve and the teams at Shoosmiths.
'We were very keen to develop Telford because we knew we had the right contacts to make the scheme work. We are proud to have played our part in creating a high quality, vibrant and sustainable heart for Telford Town Centre. The scheme will also create new jobs, new opportunities and inward investment.'
Shoosmiths' real estate group is one of the largest in the UK, spread over eight offices from the south coast to the North West, comprising a team of more than 39 partners and 254 people.
The group is made up of teams advising on real estate, construction, planning, property litigation, and environmental.
Shoosmiths' clients include commercial and residential developers, investors, retail and leisure operators, social housing bodies, major corporate occupiers, banks and other funders and a range of public sector bodies.