Wragge & Co advises be:here on London deal
BIRMINGHAM law firm Wragge & Co’s real estate team has advised be:here, a new company created by property developer Willmott Dixon, on a residential development in London.
The deal – at the Aberfeldy estate in the East End – is the company’s first since being launched last month to focus on providing homes for the private rental sector.
The site in Tower Hamlets is set to provide 233 new homes, comprising mainly private rental accommodation alongside affordable and social housing. Under the agreement, the units will be developed by be:here and managed under the new be:here brand.
The M&G Investments Secured Property Income Fund provided investment funding for the deal.
Head of residential investment Richard Beckingsale led the Wragge & Co team advising be:here.
He said: “We have worked with be:here from the outset on developing its housing rental product aimed at young professionals, couples and sharers. With a clear understanding of the company’s delivery model, we acted as an extension of its team to negotiate and conclude the development and funding documentation.”
The Wragge & Co team included housing and regeneration associate Sally Farrall and solicitor Daniel Leather. Tax partner Lee Nuttall and commercial development and investment partner Colin Hurt also advised.
