King & Wood Mallesons has advised one of London's leading residential developers Galliard Group on the £50 million investment by Singaporean property developer Oxley Holdings, for a 20% interest in the company.

Galliard Group is the capital’s second largest house builder, with nearly 6,000 residential units under construction and sites in planning with a completed value of £2 billion. The company, which trades under Galliard Homes, is behind notable developments such as New Capital Quay in Greenwich and Harbour Central in Docklands as well as Canary Wharf's latest residential tower block, Maine Tower, which recently sold more than 200 apartments in less than five hours.

Headquartered and listed since 2010 on the Stock Exchange in Singapore, Oxley is a lifestyle property developer specialising in the development of quality residential, commercial and industrial projects.

The strategic acquisition of a 20% stake in the enlarged capital of Galliard Group will further strengthen Oxley’s presence in London, whose portfolio includes Royal Wharf, a new waterfront village located in East London.

The deal, which values Galliard Group at £250 million, will enable the Singaporean developer to capitalise and leverage on Galliard Group’s construction and property development expertise, operating network and contacts in the UK.

Stephen Conway, Chief Executive of Galliard Homes, said: “We are delighted to cement our association with Oxley Holdings, one of Asia’s most dynamic and fastest growing property development companies. We believe this milestone transaction by Oxley will create business opportunities for both Galliard and Oxley. The synergies are obvious. Galliard is a London-centric developer that has a strong selling profile in Singapore. Oxley is a dynamic Singapore-based property developer with a rapidly growing London presence. This transaction complements our ongoing and highly successful exclusive 50:50 joint venture with Cain Hoy, the private investment company, under the name Galliard Developments Ltd.”

David Hirschfield, Legal Counsel of Galliard Homes, said: “Oxley’s investment signals an exciting time for Galliard. Throughout the course of the transaction, KWM, led by partners Michael Goldberg and Simon Tager, provided us with a first-rate and diligent legal service aided by their high level understanding of the commercial drivers within our business. We now look forward to developing a long and successful relationship with Oxley.”

Michael Goldberg, UK Head of Corporate at King & Wood Mallesons, said: “This is an important strategic transaction for both our client and Oxley Holdings, and one that will create profitable and exciting business opportunities to help grow their businesses. The deal highlights the continued Asian investment in London's booming property market and is a further barometer of the growing attractiveness of UK real estate as a global asset class."

The full multi-practice team at King & Wood Mallesons was led by Michael Goldberg with associates Janine Suttie and Tim Sydor, alongside Real Estate partner Simon Tager and associate Natalie Steur.