Eversheds lands £1bn citibas development

Eversheds is advising Citibas Investments on one of the largest redevelopment schemes ever undertaken in the North of England. The firm, led by real estate associate Paul Hothi, is acting for Citibas on the estimated £1bn Holt Waterfront scheme in Manchester. Eversheds won the mandate through its previous relationships with Citibas executive directors Mike Appleton and Dave Shelton. Manchester City Council approved the project on the in-house advice of senior lawyer Jon Paramour. The project is expected to contribute to regenerating the housing standards in the New East Manchester area. Construction is expected to begin in early 2008.