Regional law firm secures major acquisition for new Essex business park
- Credit: Howes Percival
Regional law firm Howes Percival has revealed it is advising Braintree District Council (BDC) on a major project to create a new business and innovation park.
The firm, which has offices in Norwich's Bedding Lane, advised BDC on contract negotiations to acquire two separate parcels of the development site.
The result will be a 65-acre development site, Horizon 120, hosting professional services firms, companies operating in research, digital and development sectors and, in advanced manufacturing.
Howes Percival development lawyer, Nicola Curle, said: 'This was a complex piece of work. We had to manage contract negotiations with two separate landowners, which needed to synchronise on planning and completion timeframes, and deliver in accordance with the Council's cabinet approvals. The acquisition of the main site also required complex negotiations around facilitating access and services to retained land for future development and overage provision to capture enhanced value.
'We are seeing an increase in Local Authority led development work in both the commercial and residential market.'