Hammonds advises housebuilder on tie-in
LAW firm Hammonds has advised on a major collaboration between housebuilder Persimmon and West Midlands land regeneration specialist St Modwen.
The long-term arrangement will see Persimmon Homes eventually build 2,000 new homes on seven sites owned by Quinton-based St Modwen .
Three of the sites are in the West Midlands: the former MG car plant at Longbridge, Goodyear’s in Wolverhampton and Long Marston, near Stratford-upon-Avon. The other four are in: Coed Darcey, Llanwern, Darlington and Sunderland.
It is expected that the development across 120 acres of land will take up to five years to complete and will have an end value of more than £300m. Further schemes will be added as planning permission is granted.
The Hammonds team advising Persimmon Homes was led by Birmingham real estate partner Anne O’Meara, assisted by senior associates Belinda Laurance and Neil Taylor, and partners David Gordon (environment), David Adams (banking) and Stephen Glover (corporate).
Anne O’Meara said: “We were delighted to have been appointed to advise on such a high profile project, and the spirit of co-operation amongst all those involved was the key to bringing it to a successful conclusion.
“We believe that this is an innovative way forward for a commercial and residential developer, bringing together the experience that each has in their respective businesses.”
Peter Thorne from Wragge & Co acted for St Modwen.
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