We have been dealing with a large number of property joint ventures recently.
Owen White recently acted in connection with the acquisition of the Vulcan Wharf site in East London.
The £300 million regeneration of the site will create a new neighbourhood close to the Queen Elizabeth Olympic Park in E15. 457 apartments will be built. There will be a mix of tenures, including affordable rent, shared ownership, and homes for private sale. 50% of the homes will be family-sized apartments.
The site was acquired from two different vendors by Vulcan Wharf Holdings LLP, a joint venture between London Square Partners and Peabody housing association.
Owen White acted in connection with the acquisition and are acting in connection with the planning agreement.
London Square’s chief executive Adam Lawrence said:
“Our joint venture with Peabody will provide a formidable combination. Vulcan Wharf will play a vital role in the regeneration plans for the wider area, creating a new neighbourhood, providing new jobs and stimulating the local economy.”
Phil Lawrence of Owen White said:
“We were very pleased to be involved with this development scheme. London Square and Peabody make a very good team. I am sure that the development will make a significant difference to the area.”