Macfarlanes advises Stanhope Plc and Benson Elliot on sale of Station Hill development

18 June 2018

Macfarlanes has advised co-owners Stanhope Plc and Benson Elliot on the sale of the Station Hill development site in Reading to Lincoln MGT, a joint venture between Lincoln Property Company and MGT Investment Management.

The site is one of the UK’s largest development projects outside of London and sits opposite Reading station which will become the start of Crossrail in late 2019.

Consisting of 6.5 acres, the project has planning permission for 930,000 sq ft of offices, 150,000 sq ft of retail space and around 475 flats and has a gross development value of more than £750m.

The Macfarlanes team was led by real estate partner Clare Breeze with assistance from solicitors Isabella Dierden-Hunt and Elizabeth Parsons. Additional advice came from corporate partner Nicholas Barclay, tax senior counsel Kirsten Prichard Jones, finance senior counsel Paul Keddie, environmental consultant Nigel Price and construction senior solicitor Radhika Shah. IP expertise was provided by partner William Hedges and solicitor Roisin Cregan.

Clare Breeze comments: “It has been a pleasure to work with Stanhope and Benson Elliot on this remarkable redevelopment project since its purchase in 2010. Macfarlanes has a strong history of acting on complex and high-value mixed-use developments for investors, developers, funders, and occupiers focused on the delivery of excellence.”

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