Global law firm Clyde & Co has advised Grainger, the UK’s largest listed residential landlord, on its joint venture (JV) with a London borough council to build 300 homes for the private rented sector (PRS).
The partnership with Lewisham Council will provide up to 300 homes as well as a new GP surgery, pharmacy, office space and an outdoor gym at Besson Street in New Cross Gate.
The scheme will comprise 35% affordable homes let at "London Living Rent" and long-term tenancies for Lewisham residents.
A planning application for the development, which will be owned by Lewisham Grainger Holdings and managed by Grainger, is expected in 2019.
The Clyde & Co team advising on the deal was led by partners John Pearce and Richard Elks, with support from associate Victoria Green and junior associate Henry Taylor.
John Pearce comments: "We're delighted to have worked with Grainger on this significant project. The need for houses in London is high and this partnership will deliver both quality homes and several facilities that will benefit the local community."
With a reputation for a deep-rooted understanding of the multi-faceted, commercial, residential and mixed-use property industry, Clyde & Co's Real Estate team provides commercial and practical solutions across all transactional and contentious disciplines.