International law firm Gowling WLG has advised Ballymore on the development funding from M&G Real Estate of Three Snowhill in Birmingham.
Three Snowhill is the largest ever speculative city centre office scheme to be constructed outside London. The £200 million scheme will be completed in 2018 and will include 385,000 sq ft of offices and 35,000 sq ft of retail and leisure.
The scheme will follow Ballymore's One Snowhill which was completed in 2009 with tenants including KPMG and Barclays Bank, and Two Snowhill which was completed in 2013 with tenants including Gowling WLG, HS2 and Quilter Cheviot.
The Gowling WLG team was led by real estate partner Susan Bennett along with director Toni Weston. Hogan Lovells advised M&G Real Estate with a team was led by London partner, Daniel Norris, supported by Counsel, Aaron Burchell and senior associates, Karen Lang, Sarah Stewart and James Garvan in London, and Thierry Somma and Alexander Koch in the Luxembourg office. Partner Ian Reid and associate Ivy Accorda from Howard Kennedy acted on the construction elements.
Susan Bennett, partner, Gowling WLG, commented: "We have worked with Ballymore on Snowhill since 2007. It is incredibly exciting to know that the final - and largest - phase of this world class scheme will soon start to take shape. Birmingham's business district and its reputation as a great place to do business have been boosted by the investment that Ballymore has made and the subsequent jobs that have been created."
In 2015 Birmingham City Council and the Colmore Business District unveiled a 20-year Snow Hill Masterplan. It provides a framework to create 10,000 new jobs, generate more than 2 million square feet of new office space, and boost the local economy by over £600 million each year.
Gowling WLG was formed through the combination on 22 February 2016 of Gowlings and Wragge Lawrence Graham & Co. The firm now has more than 1,500 legal professionals across 18 cities worldwide.