Wragge & Co closes social housing deal for Sanctuary Housing Group
18.09.08
Wragge & Co LLP's Real Estate, PFI and Energy teams have advised Sanctuary Housing Group on a key worker housing project for Cambridge University Hospitals National Health Service Foundation Trust. The project will be delivered at the trust's Addenbrookes Hospital site.
Under the arrangements, Sanctuary will take a long lease of the site from the trust. It will also construct 292 mixed units for Addenbrookes' junior doctors and nurses. The organisation will maintain the properties and provide facilities management and other services. It has granted nomination rights to Addenbrookes.
Real Estate partner Andrew Galla led a cross-firm Wragge & Co team including real estate solicitor Kelly Ann-Sharp, PFI partner Stephen Kenny and solicitor Georgina Spearing. Social housing expert Jacqueline Knox advised on the tenancy agreement, with Derek Goodban and Ravi Randhawa providing advice on the electricity connection and supply arrangements between the trust and Sanctuary. The team worked closely with Sanctuary's bid manager Neil Chapman, partnership manager Martin Bird and commercial development director Hilary Gardner.
Andrew Galla said: "This is a great example of Wragge & Co's ability to deliver numerous strands of advice to a client on the same matter. What appeared to be principally a property development job actually involved a cross-firm effort. The team pulled together to interact with the various members of the client team to deliver that advice."
Neil Chapman, bid manager at Sanctuary Housing, said: "This was a complex project, requiring legal advice across a range of disciplines. Wragge & Co is our principal law firm and once again demonstrated its ability to deliver the goods. We always enjoy working with Wragge & Co and look forward to continuing this relationship on future projects."
Sanctuary Housing Group is a charitable organisation, providing and managing 70,000 homes throughout England and Scotland. Its housing stock includes general rented, sheltered and supported accommodation and student and key worker accommodation.
Wragge & Co is Sanctuary Group's strategic legal adviser. In the last few weeks, the firm has advised on projects to acquire land from Oxford County Council and, separately, from Wellington College with the intention of developing care home facilities. It also completed Sanctuary's acquisition of the Radford Housing Estate from Plymouth City Council.
The firm's PFI team has closed four social housing projects in the last 12 months. In June, it helped Powerminster Gleeson bring the £65 million Leeds Independent Living PFI Project to financial close.
With experts in commercial and residential development, planning and regeneration, Wragge & Co's 200-lawyer, full-service Real Estate group is helping deliver the Government's sustainable communities agenda. Alongside PFI/PPP and construction experts, it advises local authorities, housing associations and developers on a range of projects. These include a £1.8 billion housing-led regeneration partnership in Solihull, a major social housing PFI scheme in Kent, transfers of council housing stock in Sheffield and Rochford and other projects nationally.
Wragge & Co's 27-lawyer PFI team advises local and central government clients, contractors, sponsors and funders on PFI, PPP and international projects. Working with the firm's experts in finance, construction, planning, IT and real estate, it delivers a bespoke service that anticipates clients' requirements and supports their objectives. The team has developed market-leading expertise in the social housing sector. Highlights include acting for London Borough of Croydon on the Homes for the Future PFI project.
For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360
This press release may contain information of general interest about current legal issues, but does not give legal advice.