By Sara Johns, Oliver Richardson
Ogier’s Jersey corporate law team has advised on the purchase of a £13 million Manchester city centre student housing project.
Partner Sara Johns and senior associate Oliver Richardson led the team, who advised the Singapore-based bank on the Jersey law aspects of the transaction alongside Mills & Reeve LLP as lead English counsel and Shook Lin & Bok as lead Singapore counsel.
The team was instructed by a Singapore-based bank in relation to a GBP 13,090,000 facility used to finance the acquisition of land and buildings at 121 Princess Street, Manchester.
The commercial real estate financing deal facilitates the acquisition by Centurion Corporation, a leading group specialising in developing and managing high quality, purpose-built workers and student accommodation across the globe.
The six-storey Princess Street property in Manchester is comprised of studios and one-bedroom apartments and will be managed under Centurion’s student accommodation brand, “dwell”.
With this addition, Centurion now owns and manages nine dwell Student Living properties in the UK, across Manchester, Bristol, Liverpool, and Newcastle.
Sara said: “We are delighted to have advised on the financing of another significant UK real estate transaction and to have partnered again with Mills & Reeve to get it over the line.”