02 Dec 2011 | 12:16 pm | 1 min. read
Pinsent Masons has closed the £71 million Gateways to Oldham Housing and Regeneration PFI project.
The firm advised Barclays, the Co-operative Bank and Santander on the provision of funding for the £71m project, which reached financial close on 30 November 2011.
Oldham Metropolitan Borough Council has entered into a 25 year contract with the Inspiral consortium to provide social tenanted accommodation. The project will regenerate the 'Gateway' neighbourhoods in Oldham comprising, Crossley, Fitton Hill, Westwood and Primrose Bank.
The initial stages of this 25 year project will see the construction of 420 new private and social homes, as well as 15 leasehold properties and associated community facilities. The new and refurbished properties will provide for social tenanted accommodation. The project is also set to deliver improvement to community recreational facilities, parking and other public spaces.
Pinsent Masons was heavily involved on all aspects of the project, including key advice and negotiations on various project issues and lead the deal through to a successful financial close.
The Pinsent Masons team was led by Banking Partner Clare Foster and Projects and Construction Partner Kate Orviss, with team members including Stacey Collins, Joanne Toft, Katherine Moule, Thomas Dyer, Jennifer Gee and James Marshall. The funders' technical advisers were Davis Langdon LLP.
Commenting on the deal, Clare Foster said: "We are delighted to have acted for the banks in the first social housing project to reach financial close following the Government's Value for Money review. This deal underlines our expertise in the PPP sector and we are delighted to have played our part in a project which will undoubtedly bring major benefits to a number of communities".
Multinational law firm Pinsent Masons makes key financial services hire as it welcomes Banking partner Max Millington to its London Office.
Multinational law firm Pinsent Masons has advised Fortescue Metals Group Ltd (Fortescue, ASX: FMG) on the £164m acquisition of Williams Advanced Engineering Limited (WAE) from private equity firm EMK Capital and Williams Grand Prix Engineering Limited
Multinational law firm Pinsent Masons has been named Legal Consultant of the Year at the Middle East Solar Industry Association Awards for the fourth consecutive year.
Multinational law firm Pinsent Masons has ramped up its French energy expertise with hire of Sub-Saharan Africa-focused specialists Matthieu Le Roux and Olivier Bustin as partners in its Paris office.
Multinational law firm Pinsent Masons has been appointed to Affinity Water’s legal panel.
Multinational law firm Pinsent Masons has advised SUSI Partners on its purchase of a 50MW battery storage project from German renewables developer ABO Wind in Kells, Northern Ireland.
For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on