Hammonds LLP has advised Persimmon Homes Limited on a long-term arrangement with St. Modwen Properties PLC to develop 2000 homes on seven sites owned by St. Modwen.
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 over £300 million. 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 commented: "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.