International law firm, Osborne Clarke has advised M&G Real Estate on a £45m investment into Hub Residential's Victoria Square Scheme in North Acton.

The scheme will create 125 new flats across two 16-storey towers and an inter-connecting four-storey block.

This is the first time that Osborne Clarke has advised M&G since it won a spot on the specialist investor's legal panel earlier in the year.

Rajindh Mangat led the Osborne Clarke team. He was assisted by Tracey Wright on tax and Philip Davies on construction.

Head of the Osborne Clarke Real Estate Sector, Conrad Davies comments:

"This is a significant deal for the private rented sector. The prospect of institutionally backed PRS developments has been talked about in the market for a long time and it is great to see one finally getting signed. Forward funding of residential development is complex and comes with many challenges, so congratulations to Alex Greaves and the whole M&G team for closing this deal.

“We are one of the few city firms who have a dedicated residential development team made up of specialist lawyers who understand and are passionate about the residential investment market. As a result, we can add real value to these type of transactions and we look forward to working with M&G on many more in the future.”