Deal brings largest office development of 2020 to the West Midlands

Gateley Legal assisted real estate development and investment company, Manse Opus LLP in a deal for the construction, letting and funding of the biggest office development this year in the West Midlands.

Manse Opus LLP had agreed a deal to construct a new 95,000sq ft bespoke office development for Cadent Gas to be its new UK headquarters with a simultaneous forward sale to Aviva who were providing funding for the project. Because of Cadent’s own funding structures, a unique funding structure with Aviva, which also involved complicated arrangements with the contractor, had to be found. Without this, the transaction would not have proceeded.  

How did we help?

The Gateley Legal team was led by real estate partner, Richard Pettifor, construction partner, Amira Khan, real estate associate, Helen Davison, construction solicitor, Rohan Cordeiro and real estate solicitor, Harriet Burford.

We were instructed to advise upon all legal elements of the transaction and were instrumental in securing the delivery of the project. We found a way through a number of complicated and interlinked issues surrounding funding arrangements and capabilities of the parties involved in the project and were able to create a structure for the transaction which unlocked these issues.  

How did this benefit the client?

Without our work, the project would not have been completed and we were able to ensure that one of the very few projects involving funding from a retail investor in the office sector in 2020 was able to proceed.