MRP is a leading developer with extensive experience in the delivery of high-density, city-centre development and regeneration projects across the UK and Ireland. It has particular expertise in hotels, offices, residential and student schemes.
The team at MFMac acted for MRP throughout the lifecycle of the project, providing legal support from the initial acquisition phase through to development financing and delivery.
The Transaction
Our team advised on all aspects of the development of the 432-bed purpose-built student accommodation scheme at Renfield Street, Glasgow. They dealt with the site acquisition in 2019 and provided advice on planning matters, putting in place all construction contracts, then dealt with the funding of the development from Puma Property Finance.
Our Approach
MFMac collaborated closely with our client, consultants, funders and counterparties to maintain momentum and ensure that critical deadlines were met.
Drawing on expertise across our real estate, planning, construction and banking teams, we delivered a coordinated service that enabled issues to be identified and resolved quickly. This multidisciplinary approach proved particularly valuable in addressing the complex title challenges affecting the site and ensuring that planning, land assembly, construction and financing matters progressed in parallel.
Our commercial and pragmatic advice helped keep the project on track in a fast-paced environment, while ensuring our client remained fully informed and supported throughout.
Outcome
The project successfully progressed through acquisition, planning, site assembly, construction procurement and financing stages, positioning MRP to deliver a significant new student accommodation development in Glasgow city centre.
The transaction demonstrates MFMac's ability to manage complex development projects with multiple moving parts, bringing together expertise from across the firm to provide seamless support from acquisition through to delivery. Our coordinated approach, responsiveness and focus on practical solutions enabled our client to meet demanding timescales and advance a major city-centre regeneration project with confidence.
Shane McBride, Development Director at MRP, said:
"The team at MFMac have worked diligently and persistently to resolve complex title matters critical to facilitating the development and securing the funding package for Broadway Studios.
Their expansive expertise, commercial understanding and proactive approach have been invaluable in navigating these challenges under exceptionally tight time constraints. Delivering a student accommodation development requires close coordination between multiple stakeholders, with legal matters often sitting on the critical path to completion. MFMac consistently demonstrated the responsiveness, determination and technical expertise needed to keep matters progressing and achieve the required outcome.
Their commitment, clear communication and ability to find practical solutions to complex issues have made them a valued partner throughout the process."
