TLT has supported Waltham Forest Council in an agreement to dispose of a lease to Taylor Wimpey in relation to a major regeneration site in Leyton.
The deal is valued in excess of £41.5 million and relates to part of the Score Centre in Leyton, as part of the council's plans to regenerate the site.
The outline for the new neighbourhood includes over 715 new homes, shops, a cafe, a health hub, a new civic square and a new five indoor court leisure centre with community rooms and a nursery.
The transaction was significant and complex, involving a multi-disciplined team of real estate experts from TLT. The team advised on a range of legal and risk management issues, from procurement at the start of the transaction through planning, tax, construction and obtaining vacant possession from present occupiers to exchanging contracts. TLT will now continue to advise the council on its ongoing relationship with Taylor Wimpey.
The work was led by partner and head of social housing at TLT Linda Convery and associate Shazia Bashir, alongside partner Kane Kirkbride (property litigation), legal directors Mark Braude (tax) and Fergus Charlton (planning) and solicitor Andrew Russell (projects, infrastructure and construction).
Tony Comer, programme director at Waltham Forest Council, says: "The Score Centre is a key regeneration scheme for the borough and partnering with Taylor Wimpey over the next seven years is a significant step towards achieving our housing and community regeneration plans.
"TLT catered for our every need and managed all aspects of this complex transaction. The team worked really well together and took a really practical approach to keeping things moving forward. We are delighted with their work and the outcomes we have achieved."
Linda Convery, partner and head of social housing at TLT, says: "It is great to see development sites such as the Score Centre making real progress and we are delighted to have assisted Waltham Forest Council with its latest development plans. The site will make a significant positive impact locally, including for the people who live and work there."