Press Release

Shoosmiths advises Housing Growth Partnership on £120m joint venture with Watkin JonesThe Lloyds-backed equity investor has joined forces with Watkin Jones to develop a 397-bed purpose-built student accommodation (PBSA) scheme in Stratford, East London. With a Gross Development Value of £120m, the project is designed to achieve a BREEAM Excellent rating.
 
The scheme will also include 2,000m² of commercial space, outdoor areas, and amenities - enhancing the public realm with wildlife-friendly landscaping and greenery.

Shoosmiths provided legal advice across multiple disciplines, supporting HGP in navigating the real estate, corporate, banking, and tax aspects of the joint venture.

Colin Bennett, investment director at Housing Growth Partnership, said:

“This deal marks a key milestone for HGP and demonstrates our continued commitment to supporting the delivery of much-needed new student accommodation across the UK.

“The Shoosmiths team provided excellent support throughout the transaction. Its multi-disciplinary approach and deep understanding of the PBSA sector were critical to the successful completion.”

Real estate partner Sheelagh Cooley led the law firm’s deal team, which comprised experts in real estate (Christopher King and Sam Grange), corporate (Alison Gilson, Jen Paton, Morgan Trigg), tax (Daniel Kennedy), banking (Fiona Cameron), and construction (Ian McCann and Nina Oliver).

Sheelagh Cooley, partner and joint head of real estate finance at Shoosmiths, added:

“Increasing the delivery of high-quality student accommodation is crucial, particularly in London, where demand for space is high. We are proud to have supported HGP in this joint venture, which is a significant deal for the business that also contributes to addressing the shortage of PBSA.

“Shoosmiths’ knowledge of the PBSA sector, combined with its ability to seamlessly integrate expertise from specialist teams across the firm, was instrumental in completing the deal.”