London & regional properties

Lawrence Graham has been advising London & Regional on this development since the property company was chosen by Guinness to be its partner. Four years on and the development has just crossed the Rubicon, with the brewer, advised by Travers Smith Braithwaite, and developer becoming contractually committed. Agreements on grants of £12.25m also mark a turning point for the deal. A further £4.9m worth of funding has been provided by the London Development Agency. Perhaps the biggest challenge for advisers is the construction of a gateway access road, crossing Railtrack’s Chiltern mainline and London Underground’s Piccadilly and Central lines. A Lands Tribunal has been rescheduled from December 2000 to May this year to hear the dispute between Guinness/London & Regional and Railtrack/London Underground about the level of compensation due for the gateway to cross the rail lines. Herbert Smith has been appointed to act for Guinness at the tribunal.