Global law firm Eversheds has advised Manchester Airports Group (MAG) on its joint venture in relation to the development of its £800 million Airport City project.
Airport City Manchester is an £800 million development project expected to establish an international business and logistics hub. It will be a vibrant economic development with connectivity at its heart, the UK’s first Airport City will provide 5m sq ft of development, a mix of offices, hotels, advanced manufacturing, logistics and warehousing. The joint venture involves Beijing Construction Engineering Group (BCEG), Carillion PLC and the Greater Manchester Pension Fund (GMPF), with Argent as development manager for the scheme.
The Eversheds team has advised MAG’s Airport City team on all aspects of the joint venture and involves a team of specialists led by partner, Kuljeet Gill. Key team members included partners Phillip Tunney, Ronald Paterson and Nigel Proctor, principal associate Michael Buchanan, and associates Ruth Clare, Dan Taylor, Helen Achilleos, Marina Dawson and Matt Hayward.
Kuljeet said:
“This is a significant milestone in the Airport City project. The new development is likely to boost growth forecasts for Manchester Airport and accelerate economic growth in the region by creating an internationally competitive business environment that offers the global reach, transport connectivity and available land assets to attract major private sector investment. The joint venture will ensure that MAG is supported by well-matched partners from across the globe. ”
Jenny Cochrane, Head of Legal at MAG, said:
“The aim of the international search for investors was to secure partners who could bring global development expertise, alongside access to international occupiers and financing capabilities, which would support our land ownership and experience in airport developments. The depth and breadth of the Eversheds team’s expertise and their professional approach throughout the process has been invaluable in reaching this significant milestone.”
