Trowers & Hamlins congratulates client Gloucester City Council on winning the Municipal Journal Innovation in Property and Asset Management award at a ceremony held at London’s Hilton Hotel, Park Lane on 26 June 2019.
Gloucester won the award for its innovative investment into the King's Walk shopping centre with partners Reef Estates Limited and Canada Life. The judges were impressed with Gloucester's vision for using the transaction as a tool to revitalise its city centre and enable it to increase its strategic land holdings to promote economic development.
The firm advised Gloucester on the investment/income strip transaction which the judges found also analysed potential risk and effectively incorporated risk management options to deal this.
Paul McDermott, Trowers partner who led on the transaction for the firm said:
"This was a real team effort by Gloucester, their partners and their respective advisers. The Council has a strong vision for economic development and was prepared to take decisive action to deliver this."
Trowers & Hamlins also congratulate clients: London Borough of Waltham Forest (Local Authority of the Year) and Cheltenham Borough Council (Best Commercial Council) together with all other winners and nominated finalists.
Paul added: "All finalists illustrate the innovation and hard work which local authorities deliver to improve their communities and local people's lives."
