Mishcon de Reya advised innovative university accommodation developer Fusion Students on the acquisition of a development site in Swansea for a landmark purpose built student accommodation scheme.
The transaction involved a variation to an existing development agreement with the City and County of Swansea Council and the corporate acquisition of the original developer parties to the development agreement. It also involved entering into a bespoke revenue sharing agreement with the sellers of the developer companies. The development scheme will include 725 student beds and a large ground floor retail offering.
The transaction was led by Real Estate Partner Ed Hughes-Power, with assistance from Managing Associate Oliver Swerdlow and Associates Zachery O'Brien, Roisin Hogan and Patrick Jones. Corporate Partner Dean Poster led on the corporate aspects, assisted by Associates Daniel Goldsborough and Alex Green, Trainee Karine Bennamara and Paralegal Laura Price.