Savills were instructed to act on behalf of Muse Developments Limited to procure a forward funding partner for New Victoria, a residential-led mixed-use development located in the heart of Manchester city centre, adjacent to Manchester Victoria Station.
Savills Operational Capital Markets (OCM) division ran a strategic and targeted process delivering comprehensive transactional advice to secure record pricing for Manchester BTR, drafting and agreement of the Heads of Terms, negotiation of the commercial documentation, project management and advice relating to the financial structuring of the transaction.
With a total consideration of c.£130m, this transaction is the largest residential-led forward funding transaction outside of London. It was negotiated throughout the height of lockdown and executed with a new entrant into the sector.
Polly’s help, support and good counsel has been absolutely invaluable. A real team effort!
Phil Mayall, Board Director