Global law firm Eversheds has advised RPW (Southampton) Limited, a joint venture company owned by Morgan Sindall Investments Limited (“MSIL”) and funders Lucent Group (“Lucent”) on the signing of the conditional development agreement for the regeneration of the Royal Pier Waterfront in Southampton.
MSIL is the investment division of construction and regeneration group Morgan Sindall plc. Lucent Group is a strategic land development and investment company specialising in funding regeneration throughout the UK. The development agreement, signed with landowners Southampton City Council, Associated British Ports and The Crown Estate, requires the preparation and submission of a planning application for a comprehensive mixed-use development of the site.
The plans to redevelop the waterfront area are a key part of Southampton City Council’s vision to regenerate the city through seven ambitious projects. The existing listed Royal Pier, damaged by a fire and storms, has lain disused and dilapidated for many years. The redevelopment plans aim to transform the area, reconnecting the people of Southampton to a waterfront of which they can be proud.
A full mixed-use redevelopment is proposed on the 32 acre site adjacent to the City Walls and Port of Southampton. The project, which will be delivered in phases over a number of years, will include offices, hotels, leisure, food, drink and retail, as well as a residential development of waterside apartments and enhancement and improvement of the existing public facilities at Mayflower Park.
The Eversheds team was led by real estate partner Anthony van Hoffen with support from planning partner Monica Peto on parliamentary and consenting issues, partner Phillip Tunney on mines and minerals issues, senior associate Peter Seaborn on planning issues, senior associate Tom Douglas on construction issues and associate Danielle Snaith on real estate.
