Burges Salmon's Real Estate specialists have advised existing client Skanska on the sale of a significant development holding in Cambridge to developer Crest Nicholson for £35 million.
The site, in the popular Trumpington area of Cambridge, is sold with planning permission for 274 homes. The land sale follows Skanska’s decision to focus its UK business on other investments, such as infrastructure and commercial developments.
Partner Ross Polkinghorne led the team advising on the deal that comprised solicitor Will Hall (real estate), associate Joanne Attwood (environment) solicitor Katie Taylor (construction and engineering) and solicitor Stephen Humphreys (planning and CPO).
Ross Polkinghorne, said: 'We are delighted to have once again been working with Skanska on their activity in the UK. As with the initial land acquisition, we have brought together a multi-disciplinary team including the best of the firm's real estate, planning and environmental expertise to complete the sale.”
Burges Salmon have also recently been appointed by Skanska to advise on one of their first commercial developments in the UK. The 66 Queen Square development in Bristol is a 60,000 sq ft speculative office development scheme in the city centre and Burges Salmon are advising on all legal aspects of this project.
Burges Salmon's real estate team was also recently shortlisted for Real Estate Team of the Year at The Lawyer Awards 2014 for its work on a major redevelopment project in London's Docklands.