We are proud to have been hugely instrumental in securing this site on behalf of our client which has planning permission for 928 flats. The land is situated at 123 - 125 Hunslet Road Leeds South Bank LS10 1LD. You can find further information on the planning permission by clicking here. The sensitivity and confidentiality of this deal was such that the details couldn't be emailed to us from the get go. We had to meet with the sellers representative face to face and under an NDA before any information could be shared.
Having had a £110m forward funding deal we were leading fall out of bed just two days before, this opportunity came at the right time. The sellers of this site was X1 Developments who are a formidable developer from the North of England. They were looking for a strong buyer who has both the financial capacity and track record to undertake a deal of this size and is the reason why their representative approached us.
Michael Adesioye from Dandor met with X1's rep in Central London to discuss the deal in its entirety. Having listened to what was being pitched to him about the site and the opportunity in terms of the deal size, he was completely convinced that this was one that he was going to deliver and get a deal done.
Michael decided to put forward The Guinness Partnership who we have a close working relationship with. Our client is one of the largest affordable housing providers in England who own more than 66,000 homes up and down the country and have a balance sheet which currently stands in excess of £2 billion pounds today. They provided services to more than 135,000 people.
Once X1 got to know who we were putting forward and representing in this matter, they conducted their own due diligence on our client and came back and said "we have heard good things about your client. Those we have spoken to speak very highly about them". This statement was no surprise to us. We were expecting to hear nothing less than this.
Without going into the intricacies and complexities of the deal as this is private, a transaction of this size and scale was never going to be easy or straight forward because of all the technical detail and legal parameters involved. We led the negotiations in conjunction with Guinness which was a long and very challenging process. That being said, we managed to deliver this for our client and bring it to a successful conclusion.
Another really important fact which adds to the weight of this historic deal is that Guinness have been around since 1890 and this is their biggest residential consented development they have ever bought in their entire history! We are proud to have been able to make this happen and as a result we have cemented our place in the Guinness book of records!