Ashfords' real estate team has successfully advised housing developer Wain Homes, on a transaction with build-to-rent specialists Placefirst.
The transaction will deliver 72 new two and three-bedroom rental homes at the Paddocks development in Preston, Lancashire.
The homes will be heated by air source heat pumps and built to an EPC B rating, supporting Wain Homes (North West) and Placefirst’s commitment to energy-efficiency and sustainability. They are scheduled to be completed between January 2027 and January 2028.
This is phase three of a multi-phase site in Preston. The Ashfords team have previously advised on this site in relation to open market sales, affordable sales and utility transactions.
Ashfords’ long-standing relationship with Wain Homes meant we were able to provide tailored advice at every stage, ensuring the transaction is aligned with the Wain Homes’ commercial aims.
The transaction was led by real estate senior associate Bryoney Alford, who advised on all aspects of the development project including title enquiries, contracts, land transfer and structure.
Construction advice was provided by construction partner Laura Reeve, assisted by construction associate George Bridge who advised on ancillary documents including those required by the funder.
Planning partner David Richardson and planning solicitor Hannah Lewthwaite advised at short notice on a recent legal case impacting the planning for the site.
Ashfords’ knowledge and expertise enabled the transaction to be successfully agreed. Our teams worked collaboratively to adapt to changes in planning, requirements and structure throughout the process.
The site will facilitate the delivery of 72 new homes, with a focus on sustainability.
Claire Campbell, land director at Wain Homes said: “This was a complex transaction, and the support and guidance we received from Ashfords throughout the process was invaluable. Their team worked closely with us to navigate the legal and planning complexities involved and helped us reach a successful outcome. We really valued their expertise, responsiveness and the work they put in to get the deal over the line.”
Ashfords' real estate team advises commercial and public bodies across the country on the full range of property matters, including nationwide large scale property developments, urban regeneration, self-invested pension schemes and real estate investments.
The team work with a range of clients from house builders and commercial developers to housing associations and local authorities.
For further information, please contact our real estate team.
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