Herbert Smith Freehills LLP (HSF) has advised Dorrington plc on its buyout of Grainger plc's 50% interest in the Walworth Investment Property (WIP) joint venture which comprises a residential investment portfolio of 565 homes in South London. HSF previously advised Dorrington plc on the creation of the WIP joint venture (with Grainger plc) back in 2013.
Founded in 1936 as a residential investment and development company, Dorrington plc was listed on the London Stock Exchange in 1959 and subsequently taken private by Hanover Acceptances in 1980. Dorrington plc have a strategic commitment to the residential sector and this acquisition is a significant addition to their existing London focused portfolio.
The Herbert Smith Freehills team was led by corporate real estate partner Paul Chases, supported by corporate real estate associate Alex Wright. Finance advice was provided by Simon Chadney, Ben Robinson and Oliver Henderson. Tax advice was provided by Will Arrenberg and Perminder Gainda.
Paul Chases commented: "We were involved in establishing the JV in 2013 and are very pleased to have worked alongside our client Dorrington plc on this transaction, which now makes them the sole owner of this large Victorian South London Estate"
Grainger plc were advised by Womble Bond Dickinson LLP.
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