BRM help overseas developers acquire entire share capital in UK property developers
Law firm BRM Solicitors have advised on a significant multi- jurisdictional deal on behalf of an overseas developer to acquire the entire share capital in a UK property development company, enabling construction of new homes in Manchester.
Trevor Bird (Corporate) and Alastair Reid (Real Estate) of BRM Solicitors acting for an overseas based developer facilitated the purchase of 100% of the share capital of Yew Tree Lane Developments Limited, a development company based in Manchester.
Yew Tree Lane Developments Limited owns a residential development site with a value of between £4m and £5m. The investors now intend to build new starter homes within the next 18 months.
Trevor Bird (right) of BRM commented: “This deal has taken over 12 months to get over the line and in the end involved 8 different firms of lawyers acting for various parties across different jurisdictions but given the size and complexity of the issues involved that is not surprising. We were delighted to be able to finally complete the deal to enable our client to start their project.”
Stuart Laing commented on behalf of the developer: “We are extremely grateful to Trevor and Alastair for their patience, resilience and commerciality in getting this deal done, in what were very often frustrating circumstances. We are delighted that we can now get on site and start the real work of building houses.”