Norton Rose Fulbright has advised Eco World Investment Co Ltd on a joint venture with Ballymore, to bring forward three large scale London residential development opportunities.

The three projects are Phase 2 of Ballymore’s Embassy Gardens scheme in Nine Elms, Arrowhead Quay in the London Dockland and Phase 2 of London City Island on the River Lea peninsular, opposite the O2 Arena.

Phase 2 of Embassy Gardens will be built beside the new US Embassy, which is currently under construction and, at over 50 storeys, Arrowhead Quay’s residential towers will be amongst the tallest in the country.

In total the developments have a gross development value of approximately £2.2 billion and will deliver close to 2,500 units of private residential apartments.

The transaction, which is structured as a joint venture between Eco World and Ballymore, exchanged on Sunday 11 January. The joint venture is intended to create valuable synergies by combining Ballymore’s development expertise and track record of more than 20 years in London with Eco World’s international expertise and strong marketing capabilities.

London based real estate partner Dan Wagerfield led the Norton Rose Fulbright team, he comments:

“We are delighted to have acted for Eco World on its maiden acquisition in the UK. Together, these three projects represent one of the largest and most significant residential development opportunities to be offered to the market in recent years, strengthening our track record of advising on overseas investment into large scale residential development in London”.

He was assisted by David Sinclair, Lindsay Morgan and David Hawkins (covering real estate), Caroline May (planning and environmental) and Jason Moss (on the corporate JV aspects).

Dan Wagerfield also led the Norton Rose Fulbright team that acquired Battersea Power Station for a consortium of Malaysian investors in 2012 and, more recently, on its £1.3 billion financing.

Berwin Leighton Paisner represented Ballymore.