Mishcon de Reya advises Helical Bar on joint venture with Thameling Group

Mishcon de Reya advised long-standing client, Helical Bar on the creation of a joint venture with Thameling Group to develop pre-let warehouse and distribution properties in Central Europe.

The joint venture will focus on strategic sites in Poland, the Czech Republic and Slovakia. Helical Bar will provide development finance alongside senior bank finance, with Thameling Group sourcing and developing sites close to major road infrastructure hubs and airports. The joint venture's initial spending capacity will be circa €50 million. Completed assets are expected to be forward sold to the open market.

The joint venture aims to take advantage of the opportunities presented by declining land and construction costs in the region. It will provide build-to-suit small and medium size units up to 10,000 sqm within a park environment, together with larger standalone facilities.

Corporate partner Richard Tyler led the team, assisted by corporate assistant Victoria Theaker. Richard commented: “This project represents an interesting new business opportunity for Helical Bar and we are delighted to have been able to assist them in another joint venture project”.

Development director, Gerald Kaye of Helical Bar, said: “We are very pleased to be working with Thameling Group on this exciting opportunity, and as ever, our advisers at Mishcons helped to make this happen.”

HBJ Gateley Wareing acted for Thameling Group.