Wragge & Co advises Development Securities PLC on two key developments

Wragge & Co LLP's property development specialists have advised long-standing client Development Securities PLC on two key developments.

In the first, partner Robert Caddick and associate Nisha Jassal advised Development Securities on its unconditional acquisition of a 1.5-acre car park site in Hammersmith Grove, London, from London Underground Limited. The site will be redeveloped as a landmark office-led, mixed use scheme. Planning permission for 325,000 sq ft of offices, together with retail and leisure accommodation, has been secured.

In the second, Nisha and construction associate Simon Colegate advised on the £42 million completion of its 147,000 square foot prime office CityPark development in Manchester, also known as The Peninsula. The CityPark development also includes a 250-room Park Inn hotel. Employment law consultant Peninsula Business Services will occupy the office building.

On both projects the team worked closely with Development Securities' in-house team. Real estate tax specialists Lee Nuttall and Chris Nyland provided Stamp Duty Land Tax (SDLT) advice on both projects.

Nisha Jassal said: "It is always rewarding to work on projects from the outset, see them through to completion, and, most importantly given the significance of these developments, achieve a good result for our client. Our experience and expertise within the real estate development sector ensured we were able to work alongside our client throughout negotiations on both deals, tackling any issues that arose."

Julian Barwick, Development Securities' executive director, said: "We are delighted to have achieved practical completion of CityPark on time and on budget, and to be making a commitment to the Hammersmith site at a significant point in the cycle. The Wragge & Co team worked side-by-side with our own team to successfully deliver on both these important projects."

Development Securities is a property development and investment company focused within the UK. Wragge & Co has acted for Development Securities for more than seven years, advising on the initial acquisition and forward sale of the CityPark site in 2007. Halliwells advised Peninsula Business Services and Travers Smith advised London Underground Limited.

Wragge & Co's 10-partner Commercial Development and Investment team advises UK and international developers and investors on a range of acquisitions, developments and disposals. In the past six months the team has advised international property group Goodman on its pre-let deal to build a 500,000 square foot distribution centre for the Co-operative group in Hampshire.