International law firm Trowers & Hamlins has advised Hambleton District Council on a joint venture with Wykeland Properties Limited to develop the former H.M. Prison Northallerton as a major mixed-use regeneration project in central Northallerton.
The development of one of Northallerton's most historic landmarks will see the long disused prison transformed into a complex of residential, retail and leisure outlets, designed to complement and enhance the existing economy and community. Wykeland Properties, a leading property development company, will be working alongside Hambleton District Council to capture the full potential of the site, preserving listed buildings and generating new opportunities for the area's residents and visitors.
The firm has advised Hambleton District Council on all aspects of the transaction, including designing the corporate structure, overseeing the procurement process, shaping the evaluation criteria, drafting and negotiating the shareholder and development agreements, and advising on procurement and contractual matters.
Partner Helen Randall, who led on the deal said:
"We are extremely proud to have worked on this deal, which will undoubtedly see the site become one of the most iconic examples of regeneration undertaken. The development will provide important new employment opportunities, cultural facilities and retail outlets for the area, and we look forward to seeing the project progress."
The team acting on the joint venture was led by Helen Randall. Patrick Morris assisted with the Commercial Property aspects of the joint venture, Neil Waller provided Banking and Finance advice and Emma Mitchell supported from a Public Sector perspective.