Forsters advise Apartments for London in relation to modular housing scheme with TfL
Forsters LLP has acted for Apartments for London Limited, working with Transport for London, in relation to a number of sites across the capital in order to provide affordable housing.
The innovative idea will see Apartments for London creating homes over car parks, using a modular construction to aid efficient delivery.
Planning applications are to be submitted for the first three developments later this year. The legal structure envisages an income strip alongside an operator lease once the developments are complete.
Commercial Real Estate Partner Helen Streeton advised Apartments for London on the transaction and commented "I am delighted to have been involved in this exciting venture which uses creative legal structures and aims to provide swift delivery of affordable homes across London. I look forward to continuing to work with Apartments for London on further strategic property developments".
Development Partner Julian Keith supported by Bela Zavery led the team at Trowers & Hamlins LLP in advising Transport for London and commented "We are extremely passionate about working on this iconic project on behalf of Transport for London in conjunction with Apartments for London and Forsters and are extremely excited to see the positive impact it will make for the people of London."