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Dickinson Dees LLP advises on £85 million housing project funding for Nationwide Building Society

national funding expertise secures debt facility for largest ever housing and extra care services project in North of England

October 18, 2007

Newcastle-based Dickinson Dees has advised Nationwide Building Society on an £85 million debt facility to fund a major housing project in the North West which will provide 350 new homes for elderly residents. This is the second major project that Dickinson Dees has undertaken for the Society in the last few months, the first being the recently closed £65m Dorset Emergency Services Partnership Initiative Project which was a combined police and fire project.

The housing project, planned for five different sites in Cheshire, covers not only the construction of the houses, but also the provision of extra care services for residents such as meal provision and 24/7 support.

The project is being delivered by a consortium comprising Harvest (a housing association specialising in care for the elderly), Gleeson Capital Solutions Limited and Nationwide itself. The houses will be built by Gleeson Building Limited.

The six-strong Dickinson Dees’ team, headed by partner Russell Jarvis, a leading project finance specialist, provided legal advice on all aspects of the funding, which involved expertise from the firm’s property, construction, banking and specialist housing teams. The project is the latest in a series of funding deals the firm has worked on for Nationwide across the UK.

Executive quote

“The Cheshire project will set a benchmark in the region for delivering affordable housing and expert care services for elderly residents,” said Russell. “Nationwide is already involved in the funding of major public sector projects across the country, and is leading the way in best practice for private sector involvement for services for people who need specialist care.”

Customer quote

“Dickinson Dees’ top expertise in the specific requirements for funding in the PPP sector and advising on projects across a wide variety of sectors all over the UK continues to impress us, ”said Jeremy Allcock Head of PFI at Nationwide Building Society. “The project is the biggest of its kind in the North of England, so taking advice from national experts in this field was a key foundation for the funding.”

About the company

Dickinson Dees is one of the UK’s leading law firms. Based in the North East of England, with 78 partners and 925 people in all, the firm provides legal services to corporate, commercial, public sector and private clients across the UK.

Dickinson Dees prides itself on the high quality and personal service it offers clients, providing complete transparency from pitch to proposal to project. Its stable partnership and high growth rate make it one of the most successful law firms in the UK today.

The firm counts some of the UK’s largest organisations amongst its clients including major banks, industry and retailers. It also supports some of Britain’s fastest growing dynamic young businesses. Recent multimillion pound deals have included work for major national plcs. It also has a large public sector client base including local authorities across the country from London to the North East, major health and other public service institutions as well as national and regional government departments and organisations.

A national business with strong regional roots, Dickinson Dees attracts legal talent locally and from across the nation to join its five offices across Newcastle, Tees Valley, Yorkshire and London.

Its partners sit on some of the UK’s most important public and private sector bodies including Family Law Association, Royal Town Planning Institute, STEP - Society of Trusts and Estates Practitioners and The Royal Institute of Chartered Surveyors (RICS).

Contact details

For more information or photography please contact Patrick Hussey at LEWIS PR:
Phone: 0161 601 7740
Email: dickinsondees@lewispr.com

Technorati tags: Dickinson Dees | Nationwide Building Society | Russell Jarvis |

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