Macfarlanes advises QPR on development of Old Oak Common site
The development will consist of 605 new homes (40% social and affordable with the remainder being private for rent) and 40,000 sq. ft. of commercial space. The scheme demonstrates the growing interest in the build to rent sector in the UK and particularly within London.
The development will be undertaken in partnership with Genesis Housing Association with the main contractor being Galliford Try.
Macfarlanes has assisted QPR from the inception of the project to the recent signing of the development and long leasehold agreements. This development agreement marks the initiation of construction at the Old Oak Common site which ranks as the largest UK regeneration scheme since the London Olympics. It also represents the first step in a revenue raising plan by QPR to help fund construction of a new football stadium.
The Macfarlanes team was led by real estate partner Dan Marriott with assistance from senior solicitor Laurie Fletcher. Further expertise came from tax partner Mark Baldwin and corporate and M&A partner Justin Hope, with financial assistance from senior counsel Paul Keddie and solicitor Chris Orford.