CMS advises Hong Kong-based Far East Consortium on key Northern Gateway acquisition
1 August 2019
International law firm CMS has advised Hong Kong Stock Exchange listed conglomerate, Far East Consortium (FEC), on its acquisition of a 20-acre plot in Manchester which will allow for the launch of Stage 1 of the high profile Northern Gateway scheme.
The land acquired, which comprises former railway sidings, the Red Bank viaduct connection and 17 commercial arches and warehouse units, will be used to provide 1,000 of the proposed 15,000 new homes to be constructed under the scheme over the next 15 years. The £1bn scheme is the most ambitious housing-led regeneration project ever undertaken in the city, and CMS has acted for FEC in relation to the project since its inception.
The CMS team advising on this transaction was led out of Manchester by partner Tanya Francis. Tanya Francis comments: “We continue to work with great enthusiasm alongside FEC, on what is a truly transformational project for both the City of Manchester and the UK. This latest development, which importantly unlocks the first phase of the scheme, means we are now starting to see this ambitious project realised."
The CMS team also included Richard Rounding, Kristina Middleton and Brendan McGilloway.