Freeths advises Cambridge City Council on landmark Park Street redevelopment

Leading law firm Freeths has advised Cambridge City Council on its successful completion of the Park Street redevelopment project, which includes the renovation of the underground car and cycle park and the construction of a new aparthotel operated by Staycity under its Wilde brand.

The redevelopment forms part of the council’s broader strategy to modernise city centre infrastructure, improve sustainable transport options, and generate long-term income to support essential services. The scheme involved the demolition of the aging Park Street car park and the creation of a new mixed-use site featuring high-quality public realm improvements, enhanced cycle and EV facilities, and a 227-room aparthotel.

Freeths advised the council on all property aspects of the transaction, including funding and implementation. The tri-partite arrangement included the council as landowner and landlord, Marick Management Limited as developer, and Staycity as tenant.

Leading the Freeths team on this deal was Real Estate Partner Clive Pearce. He was supported by Real Estate Senior Associate Sophie Moonshine, and Commercial Consultant Stephen Pearson who advised on public law matters.

Commenting on the transaction, Clive Pearce said: “Supporting Cambridge City Council on this landmark redevelopment project has been a rewarding and complex undertaking. The Park Street scheme demonstrates how strategic collaboration between public and private sectors can deliver impactful, future-proofed infrastructure. It’s a great example that showcases how thoughtful legal structuring can help unlock long-term value for local communities.”