Womble Bond Dickinson (WBD) has advised specialist bank Investec on its £23.7 million funding for a development in south west London.
This venture will fund a full refurbishment of the building, which was originally built as a private residence in 1882 before being converted into the Richmond Royal Hospital in the twentieth century. Ground floor medical facility and 56 high end private apartments will be developed, alongside a proportion of affordable housing. The development is due to complete in winter 2022.
The WBD team advising on the transaction was led by Finance and Investment Partner, Will Fraser, and Banking and Finance Partner, Charlie Reid. Other members of the team included Joseph Dean (Associate, Finance and Investment), Angela Lopes (Associate, Construction), Zander Rawlins (Solicitor, Banking and Finance) and Frances Everett (Solicitor, Planning).
"It has been a pleasure to have worked with Investec on our first real estate finance deal, which will see an exciting new living area for Richmond. Our real estate finance expertise and knowledge of the London market has allowed us to provide the best outcome for our client."
Joshua Weinstein from Investec added:
"We are very grateful to the WBD team for their advice when it came to this deal. Charlie and Will have been with us every step of the way - having two legal finance experts has been significant for us in achieving our goal."
Ranking in the UK's top 20 law firms, WBD advises over 40 FTSE 350 companies, including many of the largest businesses in the country, government organisations and private clients. The firm is the transatlantic law firm close to home, operating from eight offices in the UK, including London, and 19 offices in the US.