Planning and real estate lawyers from DLA Piper have advised National Grid on the sale of approximately 95 acres of land near Ebbsfleet Green, north Kent, to Redrow Homes Ltd. Contracts were exchanged on 28 June 2013.
The site, which is situated 700m from Ebbsfleet International station, has been sold with a purchase price of at least £32m. Redrow Homes has acquired the land with the benefit of a resolution to grant planning permission for up to 1,500 residential units and 22,000m2 of commercial space.
The acquisition was structured as a joint venture under which Redrow will secure planning permission for, and build, new homes and other mixed-use development in the area over the next 10 years.
The DLA Piper team was led by legal director Ben Taylor with assistance from trainees Jennifer Bishop and Amy Sanders and additional help from Helen Dyer and James Blackwell in the real-estate finance team.
The team worked closely with the Redrow in-house legal team. Howard Bassford is the DLA Piper client relationship partner for National Grid.