Linklaters advises as Lendlease and Starwood Capital Group to take over £3.5bn Silvertown development
Lendlease and Starwood Capital, via a managed fund, are jointly acquiring The Silvertown Partnership from its existing shareholders (First Base, Chelsfield Properties and Macquarie Capital) on a 50% co-investment basis. Lendlease will work as Development Manager and Construction Manager for Silvertown Quays.
Linklaters is advising Lendlease on the deal. With an estimated end development value of £3.5 billion, Silvertown Quays will provide 7 million ft2 of residential and commercial space – and stands to significantly bolster the city’s supply of affordable housing stock.
Silvertown Quays is strategically located between Canary Wharf and London City Airport. The project will feature extensive, high quality public realm and is well connected to existing DLR stations adjacent to the site. A new walking and cycling bridge will link the site to Custom House station which will be served by Crossrail later this year. The project will also incorporate restoration of the dock walls, new public spaces, as well as high quality commercial and retail space providing new employment opportunities for the residents of Newham. The project will span approximately 10-years with construction targeted to begin in late 2020.
Andy Bruce, Global Head of Real Estate at Linklaters, says:
“The Silvertown Quays project is an exciting development for London, delivering tangible benefits for the local community for the long-term. Projects like these continue to attract attention from investors, especially given the significant focus on developing infrastructure in London at the moment.”