Eversheds Sutherland has advised Audley Group, a leading specialist retirement housing provider, on its joint venture to develop four new retirement residential sites with Schroders Real Estate and Octopus Real Estate.
Schroders Real Estate and Octopus Real Estate will provide the majority of equity for the four sites, with Audley Group responsible for the long term management, delivery and ownership of the sites.
The four sites will provide specialist retirement housing with care and are located at Cobham, Surrey, Sunningdale Park, Berkshire, Scarcroft, West Yorkshire and Stanbridge Earls, Hampshire.
The joint venture will see the development of over 500 new, specialist later living units with a gross development value of over £400m.
Since its launch in 1991, the Group has championed and reinvented the retirement property market; challenging the care home model and introducing as a first of its kind, the concept of luxury retirement villages for the over 55s.
A cross-practice team from Eversheds Sutherland advised Audley Group throughout the establishment of the joint venture, providing corporate, real estate and construction advice.
The Eversheds Sutherland team was led by Theresa-Marie Stodell (Picture), working with Dominic Morris, Megan D’Souza-Mathew, Real Estate Principal Associate, Mike Harris, Corporate Senior Associate, and Ed Freeman, Construction Principal Associate.
Involved fees earner: Megan D’Souza-Mathew – Eversheds Sutherland; Ed Freeman – Eversheds Sutherland; Michael Harris – Eversheds Sutherland; Dominic Morris – Eversheds Sutherland; Theresa-Marie Stodell – Eversheds Sutherland;
Law Firms: Eversheds Sutherland;
Clients: Audley Group;