Norton Rose handles joint development for Persimmon

Norton Rose has acted for Persimmon Homes on its joint acquisition and redevelopment of land in Kingston-Upon-Thames with Mount Anvil Group. The deal forms part of a £40m PFI transaction led by Mount Anvil for the development of additional facilities for Kingston College.
Senior property partner Jonathan Ody led the Norton Rose team, continuing his relationship with Persimmon.
He said: “We're delighted to have acted for Persimmon Homes again. Mixed-use developments are increasing in complexity and require expertise in tax, planning and corporate structuring as well as pure property advice.”
The project includes the construction of accommodation, comprising a 56-bedroom halls of residence for students and a block of 85 residential flats. The residential element to the project is estimated to have an end-value of at least £25m. In addition to accommodation development, sports, retail and parking facilities will also be provided.
A team from Fladgate Fielder, headed by property partner Antonia Brandes, advised Mount Anvil. The firm had previously represented Mount Anvil, but this is the largest matter that the firm has been instructed on.
Brandes said: “The deal was extremely interlinked and was complicated by the number of people involved.”
Brandes said that the main difficulty arose from the involvement of so many different interest groups with conflicting agendas. The public side, Kingston College, was suspicious of the private companies' involvement. Brandes said: “It was a great pleasure to finally bring all the parties together.”
While Fladgate handled the private residential development work, the student accommodation necessitated the involvement of Broomleigh Housing Association, which was advised by Hamlins. Paul Marsh of Carter Bells advised Kingston College.