Boyes Turner’s Development & House Building Team has advised Tarn Homes on the acquisition of Morning Mills Farm a 73-hectare site in Polegate, East Sussex. With outline consent for the development of a comprehensive mixed-use urban extension, the deal follows a successful landowner appeal.
The significant new development will provide up to 700 private and affordable homes, retail space, assisted living, care, medical and other facilities, including a sports pavilion as well as new open space and a children’s play area. The gross development value of the scheme is estimated to be more than £350 million.
Boyes Turner acted on all aspects of the transaction, including a significant bridging loan facility and the provision of specialist construction and planning advice.
The deal was Led by Brian Dowling, Partner at Boyes Turner’s Development & Housebuilding team, with Lauren Ainsley leading on due diligence and contract documentation with support from Cara Groves. The team were supported by Lawrence Bruce (Construction), Simon Dimmick (Planning) and Sophie Payne (Corporate/Finance) as well as other lawyers within the Development & House Building Team.
Brian Dowling commented, We’re proud to have supported Tony and the Tarn Homes team on this complex and rewarding scheme. At a challenging time for the development market, where some have been hesitant to invest, it’s encouraging to see deals of this scale, bringing lasting impact and value to local communities.
Will Nassau-Lake, Head of the Development & Housebuilding Team adds, The scale and challenges of this deal underpins Boyes Turner’s capabilities to work on multi-layered and complex transactions, and very much reflects the high-quality advice and service we’re known for. As a relatively new member of the team, Lauren’s contribution to this deal was exceptional, bringing valuable experience to our growing real estate team.
Tony Martin, MD of Tarn, At every touchpoint of this transaction, Brian, Lauren, and the Boyes Turner team delivered first class-service, communication and acted as a genuine extension of the Tarn team, supporting our vision to deliver sustainable homes and communities. We’re looking forward to partnering with them on future schemes.
