Addleshaw Goddard has advised PLATFORM_ on a new joint-venture with Northwood Investors, initially developing three build-to-rent sites in Sheffield, Glasgow and Cardiff.
AG provided advice on drafting and negotiating construction documents for the three build-to-rent developments, and the joint-venture partnership on the construction aspects of the facility with the lender.
The three projects are scheduled to complete in 2022 and 2023, and together the schemes will provide an additional 1,039 units available for renters.
The Addleshaw Goddard team was led by Construction Partner Paul O'Kane and Legal Director Charlotte Higham, with support from Laura Heaps, Associate; Bethany Roberts, Trainee Solicitor; and Rachael Martin, Solicitor Apprentice.
Charlotte Higham, Legal Director at Addleshaw Goddard, said:
"Build to rent is one of the fastest-growing and most exciting alternative tenures within the real estate market. Schemes like the ones being taken forward by PLATFORM_ and Northwood Investors are completely revolutionising private renting, providing people with high-quality, city centre accommodation which is equipped with facilities including gyms, residents' lounges and roof terraces.
"This has been a really exciting project to be a part of, and as a firm we look forward to continuing to work on schemes which help provide quality, flexible housing options to renters throughout the UK."