Freeths advises Glenbrook on £170m funding package to deliver multi-faceted residential scheme
National law firm Freeths has advised Glenbrook on two major funding agreements for the delivery of Manchester’s 639-home Lumina Village with Moorfield and Clarion Housing Group.
Led by Real Estate Partner Stephen Lewis, Freeths advised the BTR specialists on the latest funding package to manage the development of two large residential schemes, one for Moorfield Group and one for Clarion Housing, providing over 600 new homes and putting in place some first in class public realm for the area.
Two separate contractors have been appointed to deliver the project in a phased manner and grants from Homes England and the Greater Manchester Combined Authority have also been secured to support the affordable element of the project.
Commenting on the deal, Stephen Lewis said: “Delighted to have supported and advised Glenbrook in what was a complex and challenging piece of legal architecture for its latest BTR scheme in Old Trafford. Dealing with multiple funders, multiple contractors, novel statutory measures and significant planning hurdles the cross departmental team showed Freeths at its best, it was a great achievement for all stakeholders to get this over the line in the current macro-economic climate.”
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