Michelmores Real Estate and Corporate teams have advised Kingsbridge Estates on its joint venture with Bridges Fund Management. The JV has been formed for the acquisition of a development site at New Lane in Havant, Hampshire. The 16.5 acre logistics site was acquired for an undisclosed sum from the site’s occupier, John Wyeth & Brother, a subsidiary of pharmaceutical giant, Pfizer.
The Michelmores team comprised Corporate partner Alexandra Watson and Real Estate Partners Melanie Hughes and Paul Paling.
Commenting on the deal, Melanie Hughes said:
“It was a pleasure to advise Kingsbridge Estates on the joint venture arrangements with Bridges, allowing the JV vehicle to proceed with this strategic acquisition. We look forward to the unveiling of their exciting future plans for the site.”
Chris Fry, CEO of Kingsbridge Estates, said
“We are delighted to have partnered with Bridges to deliver this significant regional industrial and logistics scheme. It was a pleasure to work with Michelmores on the joint venture and we highly value their commercial and pragmatic approach”.
Freeths advised Bridges Fund Management and advised on the property acquisition.