Memery Crystal advises Telford Homes in pre-construction agreement with Greystar

Memery Crystal led by Joanne Kelly and supported by Matthew Lindsay, Ivy Acorda and William Heywood has advised AIM-listed Telford Homes Plc in its pre-construction development agreement with US-based developer Greystar to build 894 build to rent homes in London’s Nine Elms.

Memery Crystal worked closely with Richard Ellis, Director of Legal Services and Tom Barker, solicitor in Telford’s in-house legal team.

The deal upstream is between Royal Mail and Greystar, with Greystar having agreed to purchase 2.67 acres on the Nine Elms site.

The pre-construction development agreement means that Telford will assist Greystar to discharge the planning consent for its designs on the two plots. Once planning is secured, Telford will then enter into a design and build contract to deliver the development.

This agreement has enabled Telford to significantly expand its build to rent portfolio and enter into an exciting partnership with a major large-scale rental communities investor in Greystar.

Joanne Kelly, Head of Construction at Memery Crystal commented: “We are delighted to have advised Telford Homes in securing this partnership with Greystar in the build to rent sector. This sector is a rapid growth area and the breadth of expertise across Memery Crystal’s Real Estate team means that we are well-placed to advise clients in this space to achieve their objectives.”