Slaughters bags £2bn Olympics role

Slaughter and May has landed a role alongside Herbert Smith and Pinsent Masons on the £2bn Olympic Village development, part of the mammoth Stratford City regeneration project.

Slaughter’s corporate real estate group is advising Lend Lease, selected by the Olympic Delivery Authority (ODA) and London & Continental Railways (LCR) as the preferred developer.

Slaughter’s corporate partner James Featherby, commercial real estate partner Dermot Rice and project finance partner Steven Edwards will lead the advice on the planning, real estate and financing aspects of the development.

Herbert Smith continues to advise LCR, a client it has been advising on the development of Stratford City since before London was awarded the 2012 Olympics. Real estate partner James Barnes heads the team advising LCR.

Pinsents was selected by ODA head of legal Celia Carlisle to advise on the project following its roles advising a consortium of East London councils during the Olympic bid process.

Lawyers from the three firms will be at the heart of negotiations for a two-phase regeneration agreement that extends beyond the 2012 Olympic Games.

Phase one involves the development of some 4,200 dwellings that will become the Olympic Village, and is expected to complete in 2011.

Phase two involves a refurbishment of the Olympic Village after the games, and the development of a further 500,000 sq m to complete the regeneration of Stratford City during an eight-year period to 2020.