National business law firm, DWF, represented UK real estate fund manager, Moorfield Group (Moorfield) in the acquisition of the iconic HM Customs & Excise building at Queens Dock in Liverpool.
Acquired by Moorfield on behalf of Moorfield Real Estate Fund III (MREFIII), the building will be transformed with a c.£30 million investment to create 240 luxury apartments for the private rented sector (PRS). The project will also be part of the wider, on-going rejuvenation of Liverpool’s waterfront.
The DWF Real Estate team responsible for the transaction was led by Leeds-based Partner, Charles Jackson, and included fellow real estate Partner, Simon Meek and Legal Executive, Paul Dinning. Partner, Penny Tate and Associate, Jon Marriott, provided additional specialist support on construction and corporate finance related matters, respectively.
DWF Partner, Charles Jackson, said: “This was a complex deal with which we were delighted to be involved. It drew on a broad range of the firm’s specialist expertise, from real estate and construction to corporate and tax structuring. The transaction has given us the opportunity to use our substantial experience of residential development and investment deals to add value on a major transaction in the burgeoning field of PRS/build-to-rent.”
Ross Netherway of Moorfield Group added: “We’re very pleased to have completed the acquisition of this significant Liverpool landmark. DWF’s hard work and in-depth knowledge of this sector has been very important in assisting us to make informed and effective decisions on this complex transaction and in achieving a successful outcome.”