Nick Mumby

Nick advises in relation to all aspects of real estate work, with a particular expertise in complex development and regeneration projects, including major infrastructure projects. He has vast experience in real estate finance and corporate real estate transactions. He advises clients not only in respect of asset related matters but also at the shareholder/investor level. Nick's experience of acting for both developers and lenders has given him a deep insight into the differing requirements of the various parties and allows him to anticipate the issues which may arise.

His broad client base means that he has acted on major city-office developments, sub-urban housing and regeneration projects, logistics centres and hotels. He also acts on major residential development projects. Nick is skilled at resolving complex title issues (such as rights of light, restrictive covenants and easements) and advising on developments in locations near to transport infrastructure.

Nick leads the firm's BTR sector team. He is recognised as a Next Generation Partner by Legal 500, is ranked in Chambers and Partners (Real Estate: £150 million and above) and his leadership of the Chilmington Green development to a nomination for Real Estate Team of the Year.

Clients

His clients include major developers (Land Securities and Quintain), investment funds (Clear Sky Capital, Veld Capital, Hudson Advisors and Lone Star), debt-funds (BentallGreenOak, CBRE Advisors and ICG Longbow), development and investment managers (Aldgate Developments, Ailon and Maya Capital).

Highlights

Advising Aldgate Developments on all aspects of the One Braham development.  The AD team had owned the site for over 10 years, and the work included a reorganisation of the ownership structure, obtaining vacant possession, the construction finance with Starwood Real Estate and the pre-let of the whole 340,000 sq. ft. building to BT plc for their new global HQ. In addition, he advised on the sale of the company which owned One Braham, London E1 to Union Investments for a purchase price in excess of €500million. This was the largest single property transaction in Europe in 2021.

Advising Lone Star and Hudson Advisors on the £755m preferred equity commitment from Ares Management Corporation into the Lone Star Fund IV which owns Quintain.  The deal will allow Quintain to carry out the final pieces of the development jigsaw at Wembley Park which, on completion, will be the largest BtR development in the UK.

Advising Quintain on numerous aspects of the Wembley Park BTR scheme.  This includes:

• all aspects of the latest development phase (North East Lands) at Wembley Park – a thriving, vibrant community. This has included dealing with the leasehold structure for the seven sections of this phase and the construction facility (£277m) to deliver the first two sections on the site and the sale of the student accommodation plot to Greystar;
• the £780m refinance of the corporate facility that is secured across the Wembley Park Site with debt provided by JP Morgan and Cheyne Capital; and
• the disposal of three stabilised BTR assets, Montana, Dakota and Alto, to Goldman Sachs for a premium in excess of £100m.

Advising Landsec U+I on:

• the disposal of the Morden Wharf development site to Galliard Homes and City Developments.  The development is a high density mixed-use water front development (with a GDV of c. £750m) including the construction of 15 new buildings encompassing a range of uses including c. 1,500 residential units, retail, leisure and community spaces, offices/workshop space and a new distribution/warehouse centre; and
• the joint venture with Transport for London in relation to the £300m regeneration of The Liberty of Southwark.  The Liberty will provide more than 160,000 sq ft of new office space, plus shops, restaurants, cafes, flexible small business workspace and new homes. It will bring more than 1,850 new jobs to the area and 36 residential units, including 12 for social rent and a further four for discounted sale.

Advising Veld Capital and Maya Capital on their joint venture acquisition of 160 Blackfriars Road from private equity firm Angelo Gordon for £80m.  The scheme comprises a refurbishment of the existing office building and the creation of a new hotel on part of the property. Nick has advised on the £80m multi-tranche debt facility from ICG Longbow, which is being used in part to finance the refurbishment of the office building.

Advising US private equity firm Clear Sky Capital on four Canadian listed funds – Padlock Euro Storage Funds I-IV, which include over 25 self-storage businesses across the south of England.  The acquisitions have been a mix of asset purchases, forward funded developments and operating business purchases.  Nick also led the team that advised on the reorganisation and consolidation of Funds I, II and III and the multi-tranche £102 million loan facility from Cerberus which refinanced the existing debt and provides revolving CAPEX facility.

Advising CSS on the establishment of their new self-storage fund which has an initial investment of £100m.  Nick led the team which has subsequently advised on the acquisition of assets in Guildford, Tunbridge Wells and Milton Keynes, with debt-facilities put in place for the acquisition and development on all sites.

Advising Hodson Developments on development and financing aspects of the Chilmington Green housing project.  This is one of the largest active single site housing developments, with 5,750 units being delivered across 4 phases. Nick led the team which advised on the refinance of the existing debt that had been provided by Homes England, Paragon and Close Brothers using a multi-tranche revolving facility from Cheyne Capital.