PROPERTY P L A C E S T O L I V E , W O R K A N D P L AY
Financing deal Down by the bay: Bayscape Living provides luxury apartments on flexible terms
Novello Law’s Talia Atkins
THAT’LL BE THE BAY
Novello Law has completed a landmark financing deal for the Bayscape Group of companies in a multi-million-pound deal. The financing facilitated the transfer of the final 27 apartments in the Bayscape Phase I development from Bayscape Ltd to its Bayscape Residential sister companies, and marks the launch of Bayscape Living, a new private rented sector scheme at Cardiff Marina. Bayscape Living provides luxury apartments on flexible terms, along with lifestyle services including a concierge, a private roof garden as well as benefits with local businesses, wellness instructors and events from movie nights to barbecue evenings. The financing was secured with lenders Hampshire Trust Bank, Interbay Funding Limited, Just Cashflow and Hambros Secured Lending. Novello Law acted for Bayscape Ltd and led the transaction, with Talia Atkins, partner and head of commercial property, assisted by Rhoslyn Baker. Berry Smith LLP acted for Bayscape’s sister companies. “Completing this complex refinancing with multiple lenders and thirdparty involvement during these challenging times is a testament to our core philosophy of partner engagement with clients and flexibility,” says Talia. Christopher Odling-Smee, director at Bayscape adds, “We are delighted to complete this financing deal which marks the last step in the transition of Bayscape from developer to residential landlord and the launch of the Bayscape Living brand. The take-up has been excellent with all apartments let at completion. The team at Novello Law has been instrumental in coordinating and driving the transaction forward. We look forward to the development of Bayscape Phase II under the Bayscape Living brand and with the assistance of Novello Law.” For more: www.bayscapeliving.com
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