Addleshaw Goddard advises PIC on first affordable housing scheme
Law firm Addleshaw Goddard has advised Pension Insurance Corporation (PIC) on the financing and acquisition of 125 affordable homes in Kingston upon Thames.
The £50m investment will be PIC's first investment into the affordable housing sector via a new equity strategy. The developer will be London Square. Square Roots, the independent registered provider set up by London Square, will be responsible for operating the development.
Addleshaw Goddard's advised PIC on all legal elements for the scheme including construction, real estate, building safety, planning, financing, employment and corporate elements. The AG team was led by Andrew McVeigh, Partner and Head of Real Estate Sector, with support from Sam Cary, Partner (construction); Peter Hardy, Partner (real estate); Elly Chatfield, Legal Director (real estate); Ara Vadjaraganian, Legal Director (real estate finance); Ellie Warren, Associate (construction); and Isabel Sizer, Associate (real estate).