Jones Day Gouldens - Mixed-Use Development - Fareham, Market Quay

Date: 14 Mar 2003

Jones Day Gouldens have advised a Miller/CTP joint venture company on its redevelopment at Market Quay Fareham. The redevelopment comprises a mixed retail and leisure scheme of approximately 180,000 sq ft.

The development will take place on a town centre site which has been acquired from the Fareham Borough Council by way of a 200 year lease. The development has been forward sold to Allied Dunbar Assurance plc for a consideration in excess of £18 million.

The scheme is being financed by means of a £15 million loan facility from the Co-operative Bank plc.

Construction work has commenced on site and the scheme is due for completion in Summer 2004.

Tenants include Wilkinsons, Peacocks, TK Maxx, JJB Sports, The Woolwich, Metroplex Cinemas, LA Fitness, Luminar Leisure and the SFI Group.

Miller/CTP were advised by Jones Day Gouldens' partner, Andrew Gumpert, and senior banking associate William Oliver.

Fareham Borough Council were represented by DJ Freeman partner Ted Totman.

Allied Dunbar were advised by partner Stephen Stephens of Lawrence Graham.

Associates at Eversheds, Gisella Alberici and Samantha Rollason, represented The Co-operative Bank plc.

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