Herbert Smith Freehills advises London Legacy Development Corporation on its joint venture with Vistry Group at Pudding Mill Lane, Stratford

Leading international law firm Herbert Smith Freehills has advised long standing client London Legacy Development Corporation (LLDC) on the formation of a 50:50 joint venture partnership with Vistry Group for the phased delivery of a new residential and commercial neighbourhood (the scheme), including the delivery of 948 new homes, at Pudding Mill Lane, Stratford, through a competitive procurement process. The scheme will be 45% affordable new homes and include 30,000 sq m of non-residential floor space to accommodate a mix of workspace, retail, community and leisure uses.

LLDC is a mayoral development corporation, which was set up in 2012 to deliver regeneration around the Olympic Park as a legacy of the London Olympics.

Construction is set to begin on the first phase in summer 2026, with full completion scheduled for 2033.

The Herbert Smith Freehills team was led by partners David Rosen and Carolyn Milligan, with involvement of a broad cross-practice team, including real estate, corporate, planning, construction, tax, procurement and public law, including UK and EMEA real estate managing partner Matthew White, partners Matthew Bool, Casey Dalton and Morris Schonberg, consultant Adrian Brown, senior associates Nichola Johnson, Haleema Ishaq, Lauren Renga, Martyn Jarvis, Ben Hazenberg and associates Ruby Plum and Holly Badi.

Partner Carolyn Milligan commented: "We are proud to have assisted London Legacy Development Corporation on this joint venture which will be a great addition to Queen Elizabeth Olympic Park's already thriving Innovation Cluster and world-leading Knowledge, Culture and Education District. The deal demonstrates our expertise advising on real estate projects that help create thriving and sustainable communities."

Partner David Rosen commented: "This joint venture is the latest in a number of public-private projects we have advised on, seamlessly combining our public and procurement law expertise with our full service real estate practice to best support our client's objectives."