Womble Bond Dickinson (WBD) has advised on the creation of a joint venture which looks to deliver a high spec £10m apartment complex on the North Shields Fish Quay.
Experienced developer Ian Stewart is leading the 'Shepherds Quay' project to build 49 apartments and one townhouse in three complementary blocks on the site of a former rubber factory on Clive Street. The homes are being funded through a joint venture that brings together Mr Stewart's UKQ Clive Street vehicle with Next Level Developments (part of housing association group Karbon Homes) and the government's Homes England agency.
The WBD team advising on the transaction was led by corporate legal director Iain Pritty. He commented:
"We're thrilled to have advised on the creation of this exciting joint venture which will support the construction of an ambitious, high quality development in North Shields. Our strong corporate credentials advising on transactions of all sizes, coupled with our understanding of the local market and local clients, meant we were able to secure the best possible outcome for all parties."
Ian Stewart added:
"Shepherds Quay will be a stylish development that sits right on the riverfront in an area that offers cultural experiences, vibrant restaurants, bars and coffee shops with something for everyone to enjoy. I am delighted that it is finally under way and believe that it will add significantly to the area by providing quality homes in the most attractive of settings. We're very grateful to the WBD team for its excellent commercially focused and value adding advice on this transaction."
Ranking in the UK's top 20 law firms, WBD supports clients with their regional, national and international growth strategies. The firm has a large corporate practice in the UK advising clients on a broad range of corporate transactions, particularly M&As, IPOs, MBOs, joint ventures, private equity investments as well as growth and development capital fundraisings