Shoosmiths helps McKay buy prime development site

Shoosmiths helps McKay buy prime development site


Author: Alastair Gray

Real estate and planning specialists at Shoosmiths have helped a client secure a prime development site.

The national law firm advised McKay Securities PLC on its acquisition of the 1.2 acre site at Redhill, in Surrey.

McKay has bought the London Road site from Hodnet Properties for £2.3m.

Partner Alan Corcoran and associate Simon Shoefield (both real estate) were assisted by partner Kirsten Hewson and solicitor Aaron Richardson (both planning).

The acquisition of the site, which is in a central location close to the railway station and Redhill town centre facilities, is part of McKay's strategy to invest in well located, quality commercial real estate assets in established and proven markets.

McKay is a commercial property investment company with Real Estate Investment Trust (REIT) status specialising in the development and refurbishment of quality buildings within established and proven markets of South East England and central London.

Alan Corcoran said: "This was a perfect opportunity for our client to buy a prime site able to meet occupier demand for quality office space at affordable rents. I'm pleased Shoosmiths' real estate team was able to help them secure it."

Shoosmiths' Real Estate Group is one of the largest in the UK. Spread across seven offices and comprising 35 partners and 230 staff in total, it is made up real estate, construction, planning, property litigation, and environmental specialists. 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.