Owen White acted for Bovis Homes in connection with the creation of a 50:50 joint venture between Bovis Homes and The Riverside Group.
We have extensive experience of Property Joint Ventures.
Property joint ventures make up a significant part of our practice. We have dealt with a large number of joint ventures, ranging from major £100 million plus projects to joint ventures relating to individual development sites.
Our work includes both special purpose vehicle joint ventures (where a new jointly owned entity is formed) and contractual joint ventures (where the joint venture parties enter into a series of agreements).
We are well-used to dealing with the other professionals involved, such as accountants, tax advisors, planning consultants and surveyors. We are sometimes appointed to handle the joint venture aspects of an existing development project. In such circumstances we are happy to work with our client’s existing property solicitors.
This project involved the creation of a joint venture limited liability partnership (“LLP”) between a housebuilder and a registered provider. The housebuilder sold land and other assets worth in excess of £100 million to the joint venture LLP.
In total, the project will deliver over 3,650 new homes together with leisure, retail and office space, new schools, public parks and open spaces.
Former Holloway Prison
The former Holloway Prison is to be redeveloped by a housebuilder and registered provider acting in joint venture. The site was acquired from the Ministry of Justice for in excess of £80 million.
The development will deliver more than 1,000 homes, green spaces, places to play, local shops and a Women’s Centre.
This was a complex joint venture involving two adjoining sites, two joint venture entities (a limited company and an LLP) and a series of land contracts.
The joint venture had the benefit of an option over one site and a conditional contract over the other.
A landmark mixed use development will be created on the site.
The Star & Garter, Richmond
This project involved the acquisition of an iconic Grade II listed landmark in Richmond by a joint venture company created by a private developer and a funder.
The development has resulted in the creation of an award-winning high quality development.
This project involved the creation of a joint venture LLP between a housebuilder and a registered provider.
The joint venture LLP acquired the site from the registered provider and developed it to provide new private and affordable housing.
The joint venture LLP appointed the housebuilder to construct the development and to provide associated services.
The completed affordable housing was transferred back to the registered provider by the joint venture LLP.
- Strategic Advice
- Helping negotiate and agree Heads of Terms
- Advice as to the most appropriate form of Joint Venture Entity
- Forming new Joint Venture Entities
- Members’/Shareholders’ Agreements
- Property documentation associated with the Joint Venture (Sub-Sale Contracts etc.)
- Service Level Agreements (for example, Marketing and/or Corporate Services)