Four ACS project teams worked on the following five national, high-profile projects to complete for the 31 March, public sector year end:
The Derwent Living transaction is the first lease-back, funding transaction of its kind, never seen before in the UK. This particular model will allow housing associations to unlock additional funding capacity; it is likely it will be used for future funding deals in the development of more affordable housing, to help meet the national housing shortage.
The Gloucester and Salford projects, where ACS acted for the local authority on each transaction, were significant value transactions each at over £200m, and will deliver additional investment and regeneration programmes over the next five years.
The projects were not without their difficulties. Throughout the Leicester City Council project, particularly post-demolition of the office blocks, ACS advised the Council through challenging commercial negotiations to enable the project to be kept on track.
Peter Hubbard, Senior Partner at ACS, said: “The four teams working on these projects have delivered on impressive transactions to tight timescales. Having multiple transactions of national importance completing at the same time reflects our nationally-leading position on major public-sector regeneration, along with the strength in depth of our property regeneration and public sector teams.”
The completions follow on from ACS’s previous success in the financial year, which includes:
Please contact Kate Granger on 0121 214 3527 or kate.granger@anthonycollins.com
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