Macfarlanes advises Legal & General on purchase of Deansgate Square’s West Tower

30 April 2019

Macfarlanes has advised long-standing client Legal & General on the funding, acquisition and redesign of the 44-storey West Tower in Manchester’s Deansgate Square development, the tallest build-to-rent (BTR) scheme in the UK.

Adding further scale to Legal & General’s BTR portfolio, upon completion the tower will consist of 350 residential apartments plus 147 car parking spaces and ancillary commercial space. The acquisition has been made through Legal & General Investment Management Real Assets’ open-ended build-to-rent fund.

The Macfarlanes team was led by real estate partner Anthony Burnett-Scott with assistance from real estate solicitors Sindhuja Shriananda and Rebecca McCann. Partner Angus Dawson and senior solicitor Rebecca Moon advised on construction, with tax expertise provided by senior counsel Kirsten Prichard Jones and senior solicitor Penny Van den Brande.

Anthony Burnett-Scott comments: “Deansgate Square will be a new and striking addition to Legal & General’s portfolio and adds to a vibrant part of Manchester. We are delighted to have supported Legal & General as it makes further investments into the BTR sector, and would like to congratulate all parties on completing this deal.”