International law firm Gowling WLG's real estate team has advised long-standing client, Warwickshire CCC ('The Club'), on the £93 million redevelopment of the land adjoining Edgbaston Stadium.
The development will comprise two linked elements: the first being the public realm works outside the stadium which will include the creation of a new entrance plaza and car parking facilities for the Club.
The second being the development of 'The Edgbaston Residences' complex, which will comprise of 375 high quality residential apartments and new retail and leisure opportunities. The complex has been years in the making, with The Club having originally exchanged contracts for the sale of the land for this development with PATRIZIA AG in July 2017.
The complex transaction involved co-ordinating the joint land sale by the Club and Homes England to PATRIZIA AG with the funding for its development and Patrizia and the Club each exchanging building contracts for their respective parts of the combined development. The parties all worked together to meet their challenging timetable of completion before Christmas so that the contractor, Winvic, could start work on site in the first week of January.
The first stage of the public realm works are expected to be completed by Spring 2022, when Edgbaston hosts the women's T20 tournament in the Birmingham 2022 Commonwealth Games and a men's Test match between England and South Africa.
The Gowling WLG team comprised of Robert Caddick, Nisha Jassal and Sneha Patel advising on real estate aspects and Ian Sheppard advising on construction aspects.
Commenting on the transaction Robert Caddick said: "We are very pleased – and proud - to be helping the Club to deliver these further improvements to this fantastic international sporting venue which will further set it apart on the world cricket stage. We look forward to seeing the transformation of the area which will also provide much needed housing stock for local residents."
The advisory team also included Savills and Wilson Owens Owens.
Gowling WLG's sector-focused real estate team brings extensive personal experience of a wide range of assets. This latest deal continues the firm's leading advisory work for Warwickshire CCC and follows the team's work advising on the Edgbaston Cricket Ground carpark being used as part of the COVID-19 testing facilities. Gowling WLG has also been appointed as the exclusive Official Legal Advisers for the Birmingham 2022 Commonwealth Games.