DAC gets corporate work on Crest Nicholson project

Davies Arnold Cooper’s (DAC) plan to develop its non-contentious practice was boosted last month when the firm secured a lucrative instruction from property developer Crest Nicholson on a £1.2bn regeneration project.

Although a longstanding client of DAC’s strong residential real estate practice, this is only the second significant corporate transaction on which Crest has instructed the firm.

The latest deal relates to Crest’s plans to build more than 2,000 homes at the Western Riverside site in Bath, as part of a £1.2bn mixed use regeneration project which Crest is to develop in partnership with property development and investment group Grosvenor.

Crest has also recently instructed DAC regarding its £500m housing development in the Oakgrove Millennium Community in Milton Keynes.

Corporate partner Simon Walker is heading the DAC team regarding the corporate aspects of the Western Riverside deal, while associate Ashley Dewar is assisting on the real estate aspects. Grosvenor has instructed longstanding adviser Boodle Hatfield.

Walker, who joined DAC from Addleshaw Goddard in March, said that at the time of his appointment the firm had decided to build up its corporate practice, particularly by cross-selling to clients of the real estate practice.

As part of this, Walker said further corporate lateral hires were planned as the team had been instructed on several large joint ventures and acquisitions for existing FTSE real estate clients over the past six months.