Newly-formed rental property developer Essential Living has appointed a ten-strong panel of law firms to its roster as it focuses on ambitious development targets for the coming year, with Taylor Wessing and King & Wood Mallesons SJ Berwin securing advisory roles ‘with an overarching brief to provide corporate, finance and delivery advice,’ a statement said today (26 November).
Taylor Wessing will provide advice on matters relating to corporate, construction, real estate finance, intellectual property, and employment while SJ Berwin will also advise on corporate and real estate finance as well as environment and planning.
Essential Living, the UK’s first developer and manager of purpose built homes for rent, has also afforded three-year contracts to LB100 firms Mishcon de Reya, Pinsent Masons, RPC, Cripps Harries Hall, DAC Beachcroft, Forsters, Trowers and Hamlins, and Winkworth Sherwood, after a comprehensive selection process.
The company was set up in September 2012 in partnership with real estate investment and advisory firm M3 Capital Partners.
Essential Living is aiming to provide 5,000 private rented homes over the next decade across London and the South East, with an initial $200m funding injection from a M3 Capital fund, Evergreen. The company has so far invested over £60m in development sites.
The company said the selected group has been chosen to advise the business as it looks ‘ahead to an intense period of development work’ with Martin Bellinger, chief operating officer of Essential Living adding: ‘After a fervent year of acquisitions, Essential Living will be very much evolving into a development business. As we increase the number of consultants we work with in delivering 5,000 homes for rent, it is vital we strive to achieve best value wherever possible and we are delighted to have finalised our legal panel.’
The appointment for SJ Berwin comes in the same month as its merger with King & Wood went live, with the firm to be known as King & Wood Mallesons SJ Berwin in the UK, Europe and Middle East for a transitional period, after which the SJ Berwin name will be dropped.
The panel in full:
• Taylor Wessing: Corporate, construction, real estate finance, IP, employment and general corporate
• KWM SJ Berwin: Corporate, environment & planning, real estate finance and general corporate
• Cripps Harries Hall: Acquisitions and property litigation
• DAC Beachcroft: Acquisitions and planning
• Forsters: Property litigation, property management and employment
• Mischon de Reya: Acquisitions, property litigation, planning and construction
• Pinsent Masons: Acquisitions, property litigation and registered providers
• RPC: Acquisitions
• Trowers and Hamlins: Construction and registered providers
• Winkworth Sherwood: Planning, property management and registered providers