England - Yorkshire And The Humber • Real estate

Devonshires Solicitors LLP

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Devonshires Solicitors LLP’s ‘exceptional’ multidisciplinary team of social housing experts is particularly well-versed in corporate, transactional, and development matters. The team advises both housing associations and for-profit registered providers on high-value mergers, stock rationalisation matters, project financings, and major development and regeneration schemes. The firm’s Leeds practice is jointly led by Gary Grigor, who regularly advises housing associations on private placements and mergers, and Chris Drabble, who handles real estate financings and securitisations. Real estate lawyer Elad Yasdi and employment specialist Kirsty Thompson are further key contacts.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘I have worked with a number of people at Devonshires Solicitors LLP for a number of different pieces of work including governance work, property advice and refinancing. They have all been exceptional, they have always delivered to a high standard and within the budget requirements.’

  • ‘Can I even pick standout partners and associates when there are so many great ones? It would be remiss of me not to mention Gary Grigor, Natalie Swales, and Chris Drabble, who supported us on our most recent refinancing exercise. I have no doubt that without the strong leadership of Gary and the tenacity of Natalie we would not have got the transaction across the line. Chris continues to support on our securitisation and always provides support and training to my team, which has changed through the process.’

  • ‘The team goes above and beyond on all matters.’

  • ‘Elad Yasdi is why I instruct Devonshires.’

Key clients

  • Cheshire Peaks & Plains Housing Trust Limited
  • Clanmil Housing Association Limited
  • Gentoo Group Limited
  • London and Quadrant Housing Trust (L&Q)
  • One Housing Group (part of The Riverside Group Limited)
  • Onward Homes Limited
  • Peabody Housing Trust
  • Southern Housing Group
  • The Riverside Group Limited

Work highlights

  • Advised The Riverside Group Limited on its merger with One Housing Group Limited which saw One Housing Group become a subsidiary of Riverside in December 2021, creating one of the largest housing associations in the country.
  • Acted for Peabody in connection with the regeneration of the West Thamesmead site for the provision of residential housing and commercial space from its current industrial site with a complex structure. The deal will see the construction of circa 1750 new homes, of which 40% will be affordable homes, as well as 57,000 sq.ft for employment, community, and retail with an estimated gross development value in excess of £450m.
  • Advised Cheshire Peaks & Plains Housing Trust Limited on its £102.5m refinancing which involved a new £72.5m private placement of notes with Aviva Investors, a new revolving credit facility with Barclays and the restructuring of existing PPHT debt.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Chris Drabble

Hall of fameDevonshires Solicitors LLP

Chris advises funders and borrowers on security related transactions in the social and affordable housing sector such as syndicated and bilateral loan financings, private placements, bond issues, group restructurings and large-scale voluntary transfers. Chris is also recognised for his work in the PV/renewables industry, in which he has helped the Council of Mortgage Lenders formulate its guidance.

Leading individuals

Gary Grigor

Gary Grigor

Devonshires Solicitors LLP

Gary heads up the Leeds banking team and is a member of the firm’s management committee. He also co-heads the Leeds office with Chris Drabble. He has extensive experience of advising on a range of financial instruments and arrangements, including syndicated and bilateral loan facilities; facility restructurings; mergers; group collapses; intra-group funding; interest rate derivatives; private shelf facilities, and high-value private bond issues. He acts for borrowers, lenders and trustees on real-estate finance related arrangements, with a renowned specialism in social housing finance.

Practice head

The lawyer(s) leading their teams.

Gary Grigor, Chris Drabble

Other key lawyers

Elad Yasdi, Kirsty Thompson, Natalie Swales, Geri Batchelor, Zoe McLean-Wells