This case study demonstrates the expertise of our Commercial Property & Development team who advised Thanet District Council on joint venture development. Thanet District Council (TDC) is undertaking significant regeneration work in Thanet, including improving buildings and public spaces, speculative development, infrastructure projects and working with community groups.
One project that Thomson Snell & Passmore has been involved in is the regeneration of an area in Ramsgate known as Eurokent Business Park. This project related to a joint venture development agreement with SEEDA dealing with the construction of a new business park and new Haine Road Bypass. The project was funded partly by SEEDA and with further European funding.
Following a previous complex transaction upon which Thomson Snell & Passmore worked closely with TDC, the firm was delighted to be asked to assist with this project. Thomson Snell & Passmore fielded a multidisciplinary team with lawyers from the real estate, construction, regulatory, agricultural and dispute resolution teams providing input.
Thomson Snell & Passmore worked closely with TDC’s legal team which had a great deal of knowledge about the site and matters affecting it. This partnership approach assisted the project to meet tight deadlines. Thomson Snell & Passmore was asked to play a major role in driving the project forward and had to work closely with TDC to achieve this.
The timing of the project was crucial to secure European and Government funding. A 'hands on' approach was necessary to deal with challenges faced by TDC in respect of resourcing the project. Thomson Snell & Passmore had to adopt a flexible approach to working with TDC, fitting in with the availability of its resources (and not the other way round!).
Now complete, the scheme will provide approximately 3,250m² (35,000 sq ft) of new commercial floor space, providing a direct benefit to Thanet and the East Kent area as businesses have previously needed to look outside of the area for office space or industrial units. This is of strategic importance to the area and we are continuing to work closely with TDC to assist with the sale of units and provide speedy, innovative solutions to deal with the changes in market conditions.
"It was reassuring to know that Thomson Snell & Passmore were supporting us on this important project. Thomson Snell & Passmore provided a high level of service and support throughout the transaction and their assistance was invaluable." John Bunnett, Corporate Director of TDC.