Taylor Wessing advises on £255m Bristol Redevelopment Scheme
Taylor Wessing's real estate finance team have recently advised Deutsche Postbank on the financing of a £255 million redevelopment scheme in Bristol. The project was structured with Shariah-compliant financing, with three cross-collateralised facilities with equity being provided on an Islamic compliant basis.
The project is a joint vehicle between US real estate investment company, HDG Mansur, and Saudi Arabian investment companies, Al-Muthanna and Nakheel United. The proposed redevelopment is expected to be completed in 2011, creating more than one million square feet of new property. It will comprise office, retail and leisure space, a micro brewery, several hundred new homes and open spaces, with a new centrepiece bridge topping off the regeneration development.
Taylor Wessing's team advising Deutsche Postbank included Rodney Dukes and Fran Sepulveda (Finance), Malcolm Ring (Real Estate) and Sam Nichols and Neil White (Construction). Fladgate Fielder and King and Spalding acted for HDG Mansur.
Rodney Dukes comments:
"We are delighted to have advised Deutsche Postbank on this flagship regeneration project for Bristol. We have worked with Deutsche Postbank and HDG Mansur alongside Fladgates and King and Spalding on numerous transactions and there is an excellent working relationship. This transaction was achieved despite tight deadlines and legal complexities of ensuring Shariah compliance."
Notes to editors
For more information please contact Claire Treacy at Taylor Wessing:
Tel: +44 (0)20 7300 4925
Email: c.treacy@taylorwessing.com
Taylor Wessing is a leading law firm providing legal support for commercial organisations doing business in Europe. Based in Belgium, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.
