Mills & Reeve advises on £1.2 billion pioneering deal to deliver 3,500 new homes in Hampshire

Mills & Reeve has advised Urban&Civic on a pioneering partnership deal to develop a £1.2 billion new homes project at Manydown in Basingstoke, Hampshire.

Urban&Civic is well known for its forward-thinking approach to new communities and other successful developments (also advised upon by Mills & Reeve) include Alconbury Weald in Huntingdon, creating 6,500 new homes on a former cold war airfield, at Houlton in Rugby, a new community of 6,200 homes and at Waterbeach in Cambridgeshire where a similar sized new community has recently started in development.

This new development of 3,500 homes at Manydown already green-lighted for planning and will include community facilities, schools, businesses, shops and a 250-acre country park.  It is the first phase of one of the largest residential-led development schemes in the South East of England and one of the major projects in the government’s garden communities’ programme.

Mills & Reeve advised Urban&Civic on unique partnership arrangements with Basingstoke and Deane Borough Council and Hampshire County Council and also with the global charitable foundation, the Wellcome Trust.  Lawyers at the firm advised Urban&Civic (and also a joint venture vehicle owned by Urban&Civic and the Wellcome Trust) on all of the detailed partnership agreements, finance agreements and property and development agreements.

Christine de Ferrars Green, partner at Mills & Reeve who led the project, said: “We are delighted to have worked with the Urban&Civic team on this project.  Over nearly four years, through competitive tendering dialogue to closing the deal we have helped embody their winning bid into a joint venture framework which is designed to bring out the best in public-private sector working together.  We are proud to be supporting Urban&Civic in the ambitious plans to deliver another high quality development that will create a great place for people to live, work and enjoy their lives.”                       

Urban&Civic Chief Executive Officer Nigel Hugill said: “The Manydown development is the most significant proposed in Basingstoke since the 1970s. The challenges are clear and priorities have been reset. There is no longer a presumption that town can only meet country by means of a petrol engine. Equally, the fundamental underlying strengths of Basingstoke have not changed. Accessibility, connectivity and a forward-looking conviction will find new resonance in a digital age, located within the enduring magnificence of the surrounding countryside. I applaud the determination of Basingstoke and Deane Borough Council, in conjunction with Hampshire County Council, to create a partnership capable of keeping hold of such bold ambition. Urban&Civic will relish taking charge of operational delivery.”

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