Bristol-based commercial property partner Tim Rowe will lead the team advising on the redevelopment of London’s ;New ;Covent Garden Market.
Rowe told The Lawyer: “We had to go through the tender process like a number of other larger firms.
“Stephenson Harwood is the ;firm ;traditionally associated with the Covent Garden Market Authority, but we beat them at the tender stage.”
The New Covent Garden Market regeneration project could take up to a decade, said Rowe.
“It’s a major project and we’ll have an ongoing involvement,” he added.
The firm will advise on the renewal of 450 leases held by the 245 businesses operating in the market.
This will include the transfer of tenants from their existing premises into the new building once construction work is completed.
Rowe said each leaseholding was unique, given the nature of the market, from which both retailers and wholesalers trade.
“There are a lot of people to deal with and some ambitious targets have been set,” he said.
Rowe will lead a team of seven real estate lawyers on the project. The team will work alongside TLT property litigation partner Mark Routley.CONTACTS