DLA Piper has provided pro bono advice to STREAT on their award winning Cromwell Manor project in Melbourne.

STREAT is a social enterprise that provides homeless and disadvantaged people aged 16 to 25 with a supported pathway into the hospitality industry. This month, STREAT will embark on the flagship refurbishment and redevelopment of the Cromwell Manor site in Collingwood,  which will enable STREAT to scale its operations to be fully self-sustaining from 2016 in order be able to assist 250 young people per year into work.

The project has been structured to leverage many sources of capital for STREAT, including AU$2.5 million for property purchase, AU$1.6 million in local and international donation grant capital, and AU$2.5 million in loan capital from NAB and SVA. The project also enables the debt to be bought out by impact investors once the construction is completed.

The project was recently recognised with a Social Enterprise Investment Award at the Australian Social Enterprise Awards 2015.

A multi-disciplinary DLA Piper team advised STREAT on all legal aspects of the project. Finance & Projects partner and head of the firm's Melbourne office, Jane Hider, with solicitor Edward Kus, prepared the construction contract for the delivery of the Project. Corporate partner Dr. Gerry Bean and solicitor Asher Seifman advised on structuring and funding, while Finance & Projects partner Hugo Thistlewood and solicitor John Flynn advised on the project financing.

Jane commented: "We're delighted to have advised STREAT on this redevelopment project that will enable them to provide additional support and employment resources to young people in Melbourne. DLA Piper is a strong believer in the value of creating employment opportunities and fostering economic empowerment in our communities, and it has been a pleasure for our team to contribute to this initiative."