Highbury Park in North London

Peter Brown & Co are pleased to announce that they acted for Mount Anvil in the purchase and finance of a prime site off Highbury Park in North London in April 2011. They also acted on the sub sale of the said housing element of the development to a leading London social housing provider Family Mosaic Housing Association. The three-acre site was the former headquarters of Action for Children.

The commercial scheme consists of 143 homes (82 properties for private sale and 61 affordable homes) together with a nursery and community facilities, all set within mature landscaped grounds. This scheme has a build value of approximately thirty million pounds.

Peter Brown who headed the team said: "Helping our clients to deliver this deal in a difficult climate is something we are very proud of. Satisfying mortgagees and their solicitor's requirements in respect of the development finance involved commitment, late nights and stretched the goodwill of our dedicated team at Peter Brown & Co to whom I am most grateful."

Peter Brown & Co do it again

Peter Brown & Co represented a joint venture partnership comprising niche London developer Mount Anvil (www.mountanvil.com) and Nottinghill Housing Group to acquire a prime site in EC1 on 20 October 2010.

The acquisition of the site in Seward Street, EC1 has planning permission for 161 homes, 107 for private sale, 54 affordable and 2680 square meters of office and retail space with underground parking. The gross development value is approximately £60,000,000.00 with completion in 2013.

Peter Brown, Senior Partner of Peter Brown & Co said: "Setting up a joint venture with a housing association linked to bank finance on a mixed tenure development in the current climate is a major achievement for all concerned. We are delighted."

One of the largest land deals in Central London at the moment: an amazing achievement

Peter Brown & Co, Solicitors LLP represented Central Street Developments LLP, a joint venture comprising CHA Ventures Limited (controlled by One Housing Group) and Mount Anvil Group Limited, on their acquisition of a site at Central Street, between Old Street and the Barbican, London EC1.

The development will comprise 170 private market flats, 104 social housing flats, 4,500 square metres of commercial space, plus 58 parking bays at basement level.

The Gross Development Value for this project is approximately one hundred million pounds. Mount Anvil plc were awarded the Building Contracts.

After almost two years due diligence, negotiation and re-negotiation the land purchase has recently completed. It was linked to a simultaneous agreement to sell the affordable housing element to Community Housing Association and the commercial element back to the Vendors on Practical Completion of construction. Demolition has started, with a completion date of June 2012.

In this very difficult climate a finance deal with twenty four million five hundred thousand pounds had to be structured with the assistance of Lloyds TSB Bank plc. The support of the One Housing Group and in turn the finance they raised from AIB Group UK plc was instrumental.

The project was complicated and necessitated creative solutions, coupled with a willingness to compromise wherever possible.

In addition, Peter Brown & Co, Solicitors LLP have been retained to deal with the legal work relating to the sale of the private flats. Details of the apartments that will be available for sale will soon be presented on www.mountanvil.com and probably also through the website of the One Housing Group www.onehousinggroup.co.uk.

WHAT PROPERTY RECESSION? TOP NORTH LONDON MOVERS & SHAKERS DECIDE!

Some of the best-known names in the North London property world descended on West Lodge Park Hotel, Cockfosters last Tuesday evening, 2nd June to consider what's currently happening in their market and identify opportunities as hopefully prospects improve.

The evening was so successful that joint organisers, Bond Partners, LLP, Accountants & Tax Advisors and Peter Brown & Co, Solicitors had to move the event to the hotel's largest conference facility to accommodate more than 100 delegates leaving standing room only for some while others unfortunately had to be turned away!

The evening was based on the BBC's successful Question Time format with a panel of experts drawn from banking, surveying, accountancy, the law, as well as investment and development chaired by local Chartered Surveyor & RICS Housing Spokesperson, Jeremy Leaf.

Pat Papanicola, the senior partner of Bond Partners commented "We were overwhelmed by the response and delighted to be able to demonstrate in particular the importance of obtaining independent professional tax advice to profitability in property projects – irrespective of market conditions". 

Peter Brown, principal of Peter Brown & Co. Solicitors LLP reported "We genuinely did not expect more than about 40 or 50 to attend although I suspect the turnout was a testament to the importance of property to so many businesses as well as the quality of our panel of experts.  Great ideas were shared as to the best way of kick-starting the property market with many asking when the next event would take place!"

Describing the mood of delegates, Jeremy Leaf added "There was certainly a feeling of cautious optimism in the room now many believe the worst of the recession may be over but at the same time an acknowledgement that recovery needs to be sustainable and within a better-regulated market place to ensure we avoid the booms and busts of the past".

At the end of the seminar the delegates mingled with a view to forming strategic alliances and reflecting on the quality of debate, well ok – had a good old drink and munched on canapes in the hotel's conservatories and gardens while the sun shone.   Tough life!

20th February 2009 - Barnsbury Complex

Peter Brown & Co, Solicitors LLP advised Mount Anvil plc (www.mountanvil.com) on the purchase of the Barnsbury Complex in Islington, N1. The purchase completed on 3rd December 2008.

The development site is currently occupied by four substantial Victorian buildings, three of which will be retained and converted into apartments and penthouses, along with new build blocks of apartments and houses.

The purchase involved complex and highly structured financial arrangements with Mount Anvil's funders, Lloyds TSB Bank plc (represented by DLA Piper) and their sellers, headed by Grainger plc and Northumberland and Durham Property Trust Limited (represented by Clyde &Co).

The scheme has detailed planning consent for the partial demolition, conversion and re-build of 141 homes, 104 of which will be for private sale including rather unusually nine townhouses, a 200 square metre community facility and 60 secure private parking spaces. The first homes will be ready for occupation towards the end of 2009 and Peter Brown & Co have been retained to deal with the sales.

The senior partner, Peter Brown headed the team backed by two of our partners, Richard Streat and John Dresner. Peter Brown & Co are very proud to have been part of a team which successfully helped negotiate and structure the purchase and development finance in a very difficult financial climate.

Peter Brown & Co are working with Mount Anvil on other projects some examples include:

• Peter Brown & Co assisted Mount Anvil plc on a project involving a legal structure to assist Family Mosaic Housing Association (advised by Eversheds) to acquire 87 new homes constructed above two floors of commercial property. Peter Brown & Co helped and advised in relation to the legal work in order to facilitate the transaction. Mount Anvil plc constructed this Phase 1 which incorporated the 87 new homes and the commercial element for Burberry Limited (advised by DLA Piper).


• Between October 2006 to date, Sandra Hamilton of Peter Brown & Co dealt with the preparation of the legal pack and leases for the sales of the private flats and commercial units at Mount Anvil's Canal-side development at Angel Wharf, Hackney, London N1.

The development comprises 108 residential units with car park space and commercial space.

It has been a pleasure working with everyone at Mount Anvil (SWD) to get the Apartments through to exchange and completion.

Peter Brown & Co are grateful to have been included as one of Mount Anvil's panel of solicitors for well over a decade.