Freeths facilitates £66m redevelopment of Bletchley Depot for West Midlands Trains
The firm played a pivotal role in advising Porterbrook on the financing and redevelopment of Bletchley depot, a crucial project for West Midlands Trains (WMT)
Porterbrook, a leading rolling stock financier and asset management company in the UK, sought legal counsel from Freeths to navigate the complexities of this £66 million upgrade initiative. The redevelopment aims to transform Bletchley into the primary maintenance base for WMT's recently acquired Class 730 Aventra fleet, pivotal to the nation's ambitions for a net-zero railway. Scheduled for completion by autumn 2025, the project signifies a significant step towards enhancing rail infrastructure and achieving sustainability goals.
Freeths' multidisciplinary legal team, comprising experts from the Transport, Real Estate, and Construction sectors, collaborated seamlessly to facilitate the transaction. Real Estate Partner Michael Bray and Managing Associate Danielle Sinclair spearheaded the real estate advisory, ensuring compliance and efficiency throughout the process. Rail Finance Partner Tom Johnson, supported by Senior Associate James Urmston, provided invaluable insights into financing aspects. Additionally, Managing Associate Uzma Raja offered crucial guidance on construction matters, underscoring the firm's comprehensive approach to addressing diverse legal needs.
Michael Bray emphasised the project's significance, highlighting its contribution to revitalising disused rail infrastructure, enhancing customer transport experiences, and aiding WMT and the broader rail industry in meeting net-zero targets. Stefan Rose, Chief Investment Officer at Porterbrook, expressed satisfaction in funding the redevelopment, emphasising the role of private finance in sustaining and improving critical rail infrastructure for future generations.
The success of this project underscores Freeths' commitment to delivering comprehensive legal solutions tailored to the transport and rail sectors. Leveraging their full-service Transport and Rail teams, the firm demonstrated expertise across various domains, including heavy rail, depot infrastructure, operations, finance, and regulatory compliance. By providing holistic legal support, Freeths facilitated a seamless and efficient execution of the Bletchley depot redevelopment, reinforcing its reputation as a trusted legal partner in the transportation industry.
In conclusion, Freeths' involvement in the Bletchley depot redevelopment highlights the firm's dedication to driving sustainable infrastructure projects and fostering innovation within the UK's rail sector.