Law firm central to important Liverpool property deal
The Manchester office of law firm Fieldfisher has helped seal a crucial deal for the Royal College of Physicians (RCP).
In its 500th anniversary year the RCP has signed a contract for its new northern base, RCP North, at Paddington Village in Liverpool, a new development within the city’s Knowledge Quarter.
Fieldfisher’s Manchester real estate partner Matthew Dobson led on the deal, which will see the RCP realise its long-term plan to provide services outside of the capital, extending its benefits closer to fellows and members across the North.
The building, commissioned by Liverpool City Council, is expected to be built by late 2020 and will create jobs for up to 800 people in the region, not just for the RCP.
Liverpool City Council will fund the construction of the new building and will provide competitive incentives – the RCP has agreed to take 25-year leases over seven floors.
The College will have an option to purchase the building if the Council decide to sell in years 1-19 and an independent option to buy the building in years 20-25.
The deal follows a selection process and demonstrates a commitment to developing contemporary state-of-the-art facilities to meet the needs of the RCP’s services, and its recognition of the continued growth of the North West region.
Mr Dobson worked on the development agreement which comprised seven separate leases for each floor of the building, and was assisted by construction director Helen Andrews who worked on the appointments and warranties.
Matthew Dobson said: “We were pleased to work on this deal which we feel underlines the fact that the North West is recognised as a key business hub and only continues to grow in strength.
“Fieldfisher has a long-standing relationship with the Royal College of Physicians and it was a pleasure to work alongside RCP’s teams to obtain this agreement.
“We have had a record year, winning Law Firm of the Year at the Legal Business Awards and the British Legal Awards and are keen to build on this success, both in the North West region, nationally and internationally.”
CBRE provided surveying advice to the RCP.
