Legal & General’s £100 Million Funding Of Hockley Mills BTR Site

Macfarlanes has advised Legal & General on the deal.

The transaction involved the funding of a £100m build-to-rent (BTR) site in Birmingham on behalf of its Build to Rent Fund (BTR Fund) and Access Development Partnership (a joint venture between Legal & General Capital and Dutch pension fund PGGM).

This marks the sixteenth BTR site, and second in Birmingham, for the Legal & General BTR Fund.

The Hockley Mills site will deliver 395 apartments; one, two and three bedroom, alongside a new entrance to the Jewellery Quarter train station, 116 car parking spaces and 28,000 sq ft of commercial space for retail, leisure and offices.

The Macfarlanes team was led by real estate partner Anthony Burnett-Scott (Picture) and construction partner Angus Dawson with assistance from senior solicitors Laurie Fletcher, Hayley Cole and Tania Barnes and solicitors Robert Malaney and Shane O’Neill. Tax and reward expertise was provided by senior counsels Sarah Shucksmith and Kirsten Prichard Jones.

Involved fees earner: Tania Barnes – Macfarlanes LLP; Anthony Burnett-Scott – Macfarlanes LLP; Hayley Cole – Macfarlanes LLP; Angus Dawson – Macfarlanes LLP; Laurie Fletcher – Macfarlanes LLP; Kirsten Prichard Jones – Macfarlanes LLP; Sarah Shucksmith – Macfarlanes LLP;

Law Firms: Macfarlanes LLP;

Clients: Legal & General ;