Howard Kennedy advises on the forward funding of Soho Wharf regeneration scheme in Birmingham

London law firm Howard Kennedy recently advised on the joint venture between Galliard Homes and Apsley House Capital on the forward funding of a regeneration scheme in Birmingham to Swedish residential giant Heimstaden Bostad for £160m. The scheme, Soho Wharf, will provide 752 new BTR homes, comprising 650 apartments and 102 townhouses, along with commercial space, and affordable homes at discounted market rents.

As a result of this work Howard Kennedy have been shortlisted for Real Estate Team of the Year at the Lawyer Awards 2021. Find out more in the video below.

The development is part of a series of major regeneration projects across Birmingham and marks Heimstaden Bostad’s first UK investment. Heimstaden Bostad is one of the largest real estate companies in the Nordics with more than 114,000 homes under management at a value of more than £15bn.

Howard Kennedy assisted Galliard Homes and Apsley House Capital with the corporate, construction and real estate legal aspects of the transaction. 

Leading the transaction was David Philips, Development Partner, supported by James Stewart, Construction Partner and Jane Brassington, Corporate Real Estate Legal Director.

David Philips, Partner at Howard Kennedy commented, "This was a great deal to be leading not least due to the legal complexities involved, but this captivating regeneration project will bring enormous community benefits to Birmingham and the local vicinity."

David Hirschfield, Legal Director at Galliard commented, “Having purchased a 12 acre industrial land site back in 2017, the Galliard Homes and Apsley House Capital team have since worked very closely with Birmingham City Council in order to obtain a 752 unit BTR consent which we are now excited to deliver to Swedish residential company, Heimstaden Bostad. Regeneration of towns and cities goes to the heart of the Galliard Homes ethos and we look forward to continuing to enhance our regeneration footprint in Birmingham. On what was an extremely complicated corporate acquisition, forward funding and development deal, the Howard Kennedy team led by David Philips, James Stewart and Jane Brassington provided a truly outstanding service.”