Howard Holdings
30 June 2006
Nellen represents Howard Holdings PLC on its purchase of 50% of the share capital of Rushden Park & Lakes Development Company Limited
NELLEN represented HOWARD HOLDINGS PLC on the corporate and banking aspects of its purchase of 50% of the share capital of Rushden Park & Lakes Development Company Limited (Rushden).
Rushden is the owner of 250 acres of land north of the A45 of which 34 acres has been granted planning permission for commercial and leisure use. The seller was a subsidiary of Laing O’Rourke PLC (LOR) and the transaction involved the purchase of the LOR shareholding, the refinancing of the development company with a facility provided by KBC Bank NV and the restructuring of the existing Joint Venture Agreement.
NELLEN worked with Meyer, Brown, Rowe & Mawe LLP who provided the property advice to Howard Holdings PLC, whilst the sellers were represented by Nabarro Nathanson LLP.