Legal team on £36m Derby residential deal revealed

Law firm Womble Bond Dickinson (WBD) has been revealed as the adviser residential landlord Grainger on its deal to buy a 259-home build to rent development in Derby on a forward funding basis for around £36m alongside Leeds-based property developer St James Securities.

This is Grainger’s first investment in Derby, a target city for its national build-to-rent and PRS investment strategy.

A multi-disciplinary WBD team advised Grainger on the deal, led by partner Tom Willows, with the firm providing specialist real estate, construction, planning and tax expertise.

Willows said: “We’re thrilled to have advised Grainger on its first ever investment in Derby, highlighting the attractiveness of the Midlands region which benefits from strong rental demand and robust economic growth prospects. WBD’s UK real estate practice is one of the largest in the country and our understanding of the client and the build to rent sector meant we were able to secure a smooth and satisfactory conclusion for all parties.”

Andrew Saunderson, director of investments at Grainger added: “This acquisition in Derby is an exciting addition to our growing portfolio of high-quality rental homes in the Midlands. Demand for high-quality rental homes in the city continues to grow, and this scheme will add greater scale to our Midlands cluster.

“Once again we extend our thanks to Tom and the whole WBD team for the first rate legal expertise we have come to expect from the firm.”