Richard Beckingsale enables his public and private sector clients to successfully deliver major residential and mixed use regeneration projects. Richard assists public sector clients to formulate an efficient and effective procurement strategy and to appraise the various options and contractual/corporate structures for project delivery. As the public sector is charged with delivering more from its assets, this includes assessing the options for delivery by the public sector 'in its own right' through to partnerships with developers and/or registered providers as well as the potential for corporate joint ventures and wholly owned local authority companies.
In addition to real estate and development expertise, Richard and his team understand the risks to local authorities in terms of vires, state aid and procurement – his advice is robust and, based on substantial experience elsewhere, Richard is able to help clients find solutions to these challenges.
Richard is head of the firm's regeneration team and is vital to its success, and to the provision of a commercially based service to clients of both the public and private sectors. This allows the team to provide up-to-date market based advice to public sector clients such that they can understand the risk appetite of different elements of the private sector and can best exploit the opportunities for partnership.
Richard also takes on the 'poacher turned gamekeeper role' by assisting private sector clients and registered providers in bidding for these joint venture opportunities.
In the residential investment market (or private rental sector (PRS)), Richard is able to pull together an experienced team (covering all aspects of real estate, development and construction, tax and finance), that can assist clients in successfully delivering projects. Our track record assists clients in saving time and money as we are aware of the needs of institutional funders and we understand the challenges of such projects for developers and property managers.
As a growing real estate asset class, Richard has viewed PRS as an important area in which to invest our resources in terms of the development of documentation, our know-how and related intellectual property. Most recently, Richard was a member of the Urban Land Institute's independent review panel and contributor to the 'Build to Rent' Best Practice Guide. His expertise and track record allows our clients to benefit from legal advice which is at the forefront of market thinking, benefiting and learning from practices in the US and Western Europe.
London Boroughs of Barnet, Ealing, Southwark, Hounslow and Croydon, Coventry City Council, Birmingham City Council, Telford & Wrekin Borough Council, Chelmsford Borough Council
Public sector (other)
Defence Infrastructure Organisation; Environment Agency; Central Government; Stafford Police and Crime Commissioner
Private Sector developers
be:here Limited (part of the Willmott Dixon Group), Queensberry, Wates, Grainger plc, St Modwen, Taylor Wimpey, Persimmon, Endurances Estates Limited
Home Group Limited, Sanctuary Housing Association, Orbit Housing, Metropolitan Housing Trust, Catalyst Housing Association
Richard has advised:
The London Borough of Barnet on the regeneration of Brent Cross which provides an opportunity for the Council to transform 373 acres of brownfield land in and around Brent Cross. It will create a vibrant new London destination by improving existing transport connectivity, creating new jobs, delivering significant infrastructure and commercial space (450,000 square metres) providing 7,500 homes and new community uses and public realm. The advice includes the procurement of a development partner and all related property, planning and infrastructure advice.
The London Borough of Ealing on the development of a wholly owned development subsidiary, Broadway Living. The company will acquire and develop property within the borough generating a revenue stream for the Council. The proposal for such a delivery company was developed in response to the client's desire to engage in the development of property, particularly where there are social and community benefits as well as an opportunity to create a portfolio of residential and commercial property. We have addressed matters as vires, financial assistance, part 2 land disposals, local authority funding, governance, conflicts of interest, tax, procurement and state aid. We have met with CLG and other London boroughs to discuss and disseminate best practice.
The London Borough of Croydon on its investment in a third sector solution to meeting the need to deliver temporary housing accommodation. The proposed solution is an investment in real estate that will provide a pipeline of accommodation available to those nominated by the Council. The solution required close cooperation within the firm between the regeneration, corporate and tax teams.
St Modwen and Vinci plc, the preferred joint bidder on New Covent Garden Market throughout this procurement, one of the largest regeneration schemes in London. The scheme will include 2,500 mixed tenure homes, retail, commercial and leisure opportunities. This opportunity was tendered by the New Covent Garden Market Authority. The competitive dialogue procurement process required efficient and effective management of large volumes of documentation throughout.
The private sector delivery consortium on one of the largest HCA/local authority led housing schemes in the south east – our role was to develop a robust and transparent mechanism for risk share and reward that requires the developer partners to invest in strategic infrastructure in return for the ability to drawdown phases of publicly owned land for residential development. The 20 year project will deliver over 2,000 new homes, new schools and community facilities.
The London Borough of Ealing on the regeneration of Copley Close, identified as one of seven high priority housing estates where the Council has made commitments to local residents to deliver change. There are 626 homes with 17%, owned by leaseholders. The estate is situated in the top 1% of deprived areas in England in terms of income barriers to housing and services and is constructed over a Network Rail owned main line tunnel. Some of the Council's proposals for refurbishment have already secured funding and the Council is making progress with this. The balance of the estate is to be demolished and a new mixed tenure neighbourhood is to be created by a Council subsidiary. We have advised on streamlining and refining the procurement process so as to efficiently move to delivery of the scheme.
be:here Limited (part of the Willmott Dixon group) on the development of its portfolio of private rental sector (PRS) homes. In particularly, we advised on one of the first institutionally funded PRS schemes being Aberfeldy to be delivered in partnership with M&G.