Nabarro has advised Roxhill Developments Group on its partnership with SEGRO plc in respect of a portfolio of big box logistics warehouse development sites in the South East and Midlands.

In 2010 Nabarro advised on the original formation of Roxhill which has gone on to become a highly respected logistics developer. Roxhill Management Rugby Limited (RMRL) will act as development manager to the new partnership and will work exclusively with SEGRO once Roxhill has completed a number of existing development projects with other partners.

The sites subject to the transaction offer potential development of more than 10 million sq ft of big box logistics warehousing over 10 years in the South East and Midlands.

These sites are at various stages of the planning process and the terms of the transaction allow SEGRO to make an initial investment for a 50 per cent share of Roxhill's interests in options over the sites with a deferred payment due as and when planning permission is granted.  At that point, SEGRO has the right to buy Roxhill's remaining interests in the sites. SEGRO also has the right to acquire all of Roxhill's remaining option interests as well as the management platform, RMRL.

The Nabarro team, led by Corporate partner Alasdair Steele comprised Corporate senior associate Gordon Anton, associate Ross Hockley, Tax partner Kirsten Prichard-Jones and associate Julia Cockroft, Banking & Finance partner Clive Swillman and senior associate Catrin Evans, Real Estate partner Marie Scott and associate Lindsay Barrett, and Financial Regulatory associate Bradley Rice.

Gateley plc and Wragge Lawrence Graham advised Roxhill on certain real estate aspects of the transaction while Gateley also advised RMRL as development manager.  Eversheds and Slaughter & May advised SEGRO.

Commenting on the transaction, Corporate partner Alasdair Steele said:

"Having been involved with Roxhill since its inception, it is fantastic to see its success highlighted by such an important transaction.  The UK real estate sector remains robust. This is a deal that recognises the growth of alternative assets beyond central London, a trend reflected in our own analysis of the market."