Lawyers from the Bristol office of Bevan Brittan have helped to secure funding agreements that will kickstart the largest regeneration project in the city’s history.
The national law firm’s multi-disciplinary team advised on the Temple quarter scheme, which will create 10,000 new homes as well as 22,000 jobs in the former industrial heart of the city.
Following the award of £95m from central government’s Homes England agency in June last year, Bevan Brittan’s legal experts have worked with the West of England Combined Authority (WECA) to agree the terms of the grant funding agreement with partners on the development, hailed by the region’s Metro Mayor as one of the most exciting in Europe.
The firm also helped build the framework for the money to flow down to Bristol City Council and Network Rail as WECA’s delivery partners as well as assisting on specific delivery packages related to the long-delayed redevelopment of Bristol Temple Meads railway station.
The Bristol Temple Quarter project will breathe new life into around 130 hectares of brownfield land in two phases.
The first focuses on the area around Temple Meads station, with three new entrances, pictured, funded by the £95m from central government.
This funding will also pay for 2,500 homes and 2,200 jobs by 2032. A second phase, covering the neighbouring St Philip’s Marsh area, will be the subject of more detailed planning, starting later this year.
Bevan Brittan partner and head of corporate Chris Harper, who led the firm’s advisory team on the funding package, said: “It is great to see Homes England getting behind Bristol as a place to live and work and generating new opportunities for people in this cosmopolitan and outward-facing city.
“This exciting project will have a huge impact on the city and will be something that regenerates an area which has until now been underdeveloped, bringing it into vibrant economic use.
“It will be a positive catalyst for the area across a wide range of public policy goals – housing, jobs and sustainability.”
He said Bevan Brittan would continue to support and advise WECA on the project as it developed the site in partnership with the city council, Homes England and Network Rail.
“It will be fascinating and rewarding to see it come to fruition in the years to come and deliver real benefits for thousands of people,” he added.
West of England Metro Mayor Dan Norris, who leads WECA, said: “I’m thrilled that the combined authority has been awarded £95m to invest in Temple Quarter, one of the most exciting regeneration projects in Europe.
“Now we need to make sure that the buildings and infrastructure and the high-skilled jobs we bring in truly match our ambitions on tackling the climate emergency and use the skills of our amazingly talented workers to make this area something to be very proud of.
“Combine this with the refurbishment of Brunel’s iconic station and we really will have, at long last, the jewel in the crown in the heart of our great city and fantastic region.”
The Bevan Brittan team also included partner and head of its commercial & infrastructure department Jonathan Turner, partner and banking and finance specialist David Moore and senior associate and subsidy control specialist Edward Reynolds.
Bevan Brittan, which also has offices in Birmingham, Leeds and London, employs more than 530 staff and has 90-plus partners.
Images © Bristol City Council