Mishcon de Reya has advised Hillcrest Private Equity Real Estate (PERE) on two significant real estate acquisitions.
In July, the firm advised on the acquisition of Arkwright House - a 95,000sq ft, Grade II, neoclassical building in one of Manchester's conservation areas. Completed in 1937 and designed by local architects Harry S. Fairhurst, the building was originally the headquarters for the English Sewing Company. Today, tenants of the Grade A specification building include San Carlo and flexible workspace provider Orega. The asset was purchased from a Luxembourg-based fund.
In May, the firm also advised Hillcrest on the acquisition of a development site in Deptford Bridge, Lewisham from the leading UK college group, NCG. The brownfield site is located within the Deptford Creek/Greenwich Riverside Opportunity Area (London Plan 2021), spanning both the London Borough of Lewisham and the Royal Borough of Greenwich. It contains three existing buildings and is due to be developed into a residential-led scheme.
Hillcrest is a joint venture between Sun Capital Partners and Deva Capital, founded in 2023. Hillcrest has successfully secured £250m of equity commitments to deploy in UK real estate opportunities across the capital stack.
Partner Lee Foxcroft commented: "Having previously advised Hillcrest on their acquisition of Premier House, we are delighted to continue to partner with them as they create a diverse portfolio across multiple UK locations. These most recent acquisitions underline their commitment to UK property investment."
The Mishcon de Reya team was led by Partner Lee Foxcroft (Commercial Real Estate), with support from Managing Associate Adrian de Mello (Commercial Real Estate). Tom Barton and Rebecca Gough advised on Planning aspects, with Isabella Adams and Jade Duggan supporting on tax. Corporate support on the transactions came from Ross Bryson, Emma Webb and Karine Bashardust.
With over 130 fee earners including 43 partners, Mishcon de Reya's Real Estate department is one of London’s largest and most diverse property teams. Our Real Estate department comprises well-regarded specialist practice areas and provides a one stop shop for all of our clients' property requirements. The team provides a seamless service from investment, structuring, funding, acquisition and planning, through to construction, development, tax and litigation advice.