Global law firm Ashurst has advised Ballymore on its successful appointment as joint venture partner for the transformative Limmo Peninsula development in east London, following a competitive public procurement process led by Places for London, a wholly owned part of Transport for London.
This significant transaction marks a major milestone in the delivery of a new, sustainable neighbourhood in the Royal Docks and Beckton Riverside Opportunity Area, set to provide around 1,400 new homes alongside new green spaces, improved transport links, and vital infrastructure for the local community.
Ashurst's real estate team advised on all aspects of the public procurement bid and the structuring of the joint venture and associated documents, supporting Ballymore in securing this strategically significant partnership. The joint venture will enable Ballymore to work alongside Places for London to unlock the potential of five hectares of brownfield land, supporting London's continued growth.
Commenting on the transaction, real estate partner Tim Regis said, "We are delighted to have supported Ballymore on this landmark joint venture and public procurement process. The Limmo Peninsula project is another prime example of how innovative partnerships between the public and private sectors can deliver sustainable, community-focused regeneration at scale. Our team's expertise in complex, strategically significant real estate development joint ventures was instrumental in supporting Ballymore's successful bid, and we are proud to play a role in shaping the future of London's urban landscape."
Robert Mulryan, Group Corporate Finance & Investment Director at Ballymore added, "Ballymore continue its strategic focus on large scale partnerships with public bodies and other landowners. These transactions require the collective effort of multiple parties, and we are grateful for Ashurst's hard work in this regard."
The Ashurst team was led by real estate partner Tim Regis.
