Dentons advises Landmark Properties on major Durham PBSA deal

London-Dentons, the world's largest global law firm, has advised US-headquartered student accommodation developer Landmark Properties on its agreement to acquire the mixed-use Prince Bishops Place development in Durham.

Landmark, which has exchanged contracts on the site, will partner with London-based real estate development and investment firm Citrus Group and UK residential property developer Galliard Homes to redevelop the city centre location, with proposals for high-quality 504 purpose-built student beds alongside retail and leisure use, pedestrian links through the site with communal space and enhanced views of the River Wear.

Planning permission was granted for Prince Bishops Place in 2024, with a revised application submitted earlier this year to increase the number of beds and adapt the plans to Landmark's requirements.

The acquisition of Prince Bishops Place is Landmark's third UK development project to date, as the company continues to increase its investment into the UK student housing sector.

Dentons advised Landmark on all aspects of the acquisition and transaction structuring to reflect the continued partnering of Citrus Group and Galliard Homes on the delivery of the intended mixed-use development scheme.

Commenting on the deal, Real Estate partner Simon Masri, who led the Dentons team advising Landmark, said: "Having advised Landmark on the acquisition of its purpose-built student accommodation (PBSA) scheme in Birmingham, we are delighted to have again acted for Landmark on this deal to bring a fresh new student offering to Durham. This investment by Landmark demonstrates its commitment to increasing its investment in the UK student housing sector and underscores the continued strength of the PBSA market in the UK."

Simon was assisted on the transaction by counsel Christopher Foxall, senior associates Helen Cairns and Lucy Clarkson, partner Laura Gowing and senior associate Lucy McDonnell.

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