Clifford Chance and Devonshires Solicitors have advised London housing association L&Q on its landmark £500m bid for private land business Gallagher Estates.
L&Q, which runs a portfolio of 90,000 homes in the UK, turned to Clifford Chance head of real estate Jonathan Solomon and Devonshires partner Neil Toner and consultant Andrew Crawford on its proposed acquisition.
Meanwhile Gallagher Estates was advised by Gateley partner Nick Smith. Gallagher is run by property developer Tony Gallagher. The Warwick-based business buys land, secures planning permission and promotes UK development sites.
Gateley partner Smith was co-head of global investment bank Nomura’s London based real estate investment group prior to joining Gateley.
When L&Q completes the acquisition it is poised to deliver 42,500 new homes, mainly in the south of England and the south Midlands.
Clifford Chance’s real estate team earlier this year also revealed it had won a major mandate on the £1bn phase 2 and 3 development of Battersea Power Station.
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