15 September 2011

F&C Commercial Property Trust Limited's development of student accommodation in Winchester

Forsters has acted for F&C Commercial Property Trust Limited in relation to the forward funding of a development of a five block, 499 bed student hall of residence with ground floor café, gym and launderette in Winchester.

Forsters acted on all aspects of the transaction which involved the acquisition of the shares in the developer company, the negotiation of a development management agreement and full set of construction documents, the transfer of the property out of the developer company into an SPV and dealing with the pre-let agreement for the University of Winchester subject to practical completion.   The commitment will involve approximately £26.5 million of capital expenditure.  Forsters provided a full range of services including corporate, construction, tax, planning and commercial property services

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