Trowers & Hamlins is delighted to have acted for Malaysian developer Gamuda Land in relation to a £100 million joint venture with Singapore-based Q Investment Partners, to establish a platform for investment into the UK purpose built student accommodation (PBSA) sector.
Alongside structuring and documenting the JV, we assisted with the acquisition of the JV's first asset, a site in Woolwich to develop a 299-bed PBSA scheme alongside Hurlington Capital. When complete, the project will be one of the first PBSA schemes within the Woolwich Royal Arsenal regeneration area.
Jonathan Ding, Head of International Land Acquisitions from Gamuda Land commented:
"We are delighted to have secured our first PBSA development project in London together with our joint venture partners, Q Investment Partners and Hurlington Capital. The Trowers team were dedicated to the project, showing expertise, tenacity and tact to bring a complex transaction to a successful closing."
Partners Geoff Allen and Tom Reynolds, who led the Trowers & Hamlins team between our Malaysia and London offices, commented:
"It is fantastic and a privilege to have been able to support Gamuda Land as it continues to expand its UK real estate footprint across a range of asset classes. As the first international law firm to open an office in Malaysia many years ago, and having opened an office in Singapore earlier this year, our unique regional presence allows us to provide an enhanced offering to support the flow of capital from these two important markets into the UK. Supported by experts who have worked across our international and UK businesses for many years, this project also strengthens our long-standing track record of advising Malaysian developers and investors in relation to their UK real estate assets."
Specialist support was provided across our Malaysia, Singapore and London teams, in particular by Ian Dobinson, Sean Donovan-Smith (London), Abdulhaq Mohammed and William Barakat (Singapore) on corporate, financial services and structuring, Neil Biswas (London) on real estate, and Nicol Ong (Malaysia) on debt financing.
