The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Addleshaw Goddard is poised to advise on a host of deals for new client Medical Property Investment Fund (MPIF), which plans to invest in around £400m worth of property in the health sector.
The new fund, which raised £140m when it floated on the London Stock Exchange at the end of November, has been established to invest in the acquisition and development of GPs’ surgeries throughout the UK.
The fund has been formed by Berrington Fund Management, which is also a client of Addleshaws.
Chief Executive of Berrington Richard Burrell said: “We’ll be actively seeking opportunities to fund the development of primary healthcare centres in partnership with existing GP practices. These developments aim to provide a more efficient use of premises and, in many cases, extra income streams for the GPs themselves.”
Addleshaws advised on both the listing and on MPIF’s first acquisition of a £30m portfolio of 19 properties.
Burrell said he turned to Addleshaws because of the firm’s strong reputation in corporate and for its NHS work. “Plus Berrington’s offices are in London and Chester, so the firm’s presence in both Manchester and London was a factor,” he added.
It is likely that the firm will chalk up more deals, as the fund plans to build its investments to the £400m mark by 2005. Burrell said that, although he would never use one firm exclusively, Addleshaws was nevertheless well placed to receive more work.
The Addleshaws team was led by corporate partner Philip Goodstone. Clifford Chance partner David Lewis advised Collins Stewart, the financial adviser and broker on the float.