Wragge & Co LLP's construction, PFI and real estate experts have advised Gleeson Homes Limited and Powerminster on their involvement in a major social housing PFI scheme in Ashford, Kent. Chrysalis Consortium signed development and project agreements with Ashford Borough Council in Kent for the regeneration of the Stanhope Estate.

Under the development agreement, Gleeson Homes will develop 10 sites over five years, creating 442 new homes, a commercial centre comprising retail and leisure facilities and a community centre. Of the new residential accommodation, 70 per cent will be available for social rent and shared ownership via Moat Housing Group. Powerminster has agreed a separate 30-year deal worth £23 million to provide facilities management services.

The Wragge & Co team working with Gleeson Homes comprised lead partner Ian Yule, construction specialists Simon Colegate and Ruth New, with John Dixon and Tracy Ellison providing real estate advice. PFI partner Stephen Kenny led the team advising Powerminster, assisted by Georgina Spearing and Maxine Symington.

Ian Yule said: "With experts across a full range of disciplines we can put together the right team for any deal or project. Here, specialists in construction, real estate and PFI worked as one team to deliver high-quality legal advice always focused on our clients' commercial imperatives. The project secures ongoing work for Gleeson companies and will provide important housing and other services for residents."

The Chrysalis Consortium includes Gleeson, Moat Housing Group and Nationwide Building Society. Pinsent Masons advised the consortium. Hammonds acted for Ashford Borough Council.

Gleeson Homes and Powerminster are both subsidiaries of MJ Gleeson Group plc, a company which specialises in urban housing regeneration, commercial property development and strategic land trading. Wragge & Co is one of Gleeson's panel of preferred legal advisers.

With a client base that includes two-thirds of the UK's top 20 contractors, blue chip companies and developers, Wragge & Co's 37-lawyer team is a leading construction practice. The team brings together non-contentious and contentious specialists to advise on major projects and disputes within a diverse range of sectors including commercial and residential development, regeneration, energy and infrastructure.

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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 Michelle Dolphin on +44 (0)121 213 2369

This press release may contain information of general interest about current legal issues, but does not give legal advice.