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.
Mark Dakeyne's team at Wragge & Co won the role of adviser on this deal with Richmond Land via a longstanding relationship with private property company Richardson Group, parent company of Foxborough Developments. Carillion is also a client of Wragges. The partnership purchased interests in nine existing property development schemes from Richmond, with an anticipated end value in excess of £100m.
The decision to form a partnership arose after the original funder for the schemes withdrew from UK retail investment and Richmond approached the Richardson Group. The deal involves a revolving facility from Richardson and Carillion. The scale of the investment was not sufficient enough to benefit from a limited partnership structure and all parties were keen to stay involved rather than bring in a general manager.
The partnership may also elect to buy into a further 12 schemes.