Brent Cross Town

CLIENT CONTEXT

Brent Cross Town is a new mixed-use settlement which, once complete, will deliver over 6,000 homes, extensive public spaces, a new railway station and approximately 2 million sq ft of offices and workspace.

As is typical in such large, complex regeneration programmes, land, infrastructure, masterplanning, funding and commercial arrangements are tightly interdependent. The Start Advisory team supported the delivery of this Joint Venture from the earliest period of the project when most of the company leadership were still working for the developer, Related Argent. From then until now, the team has been involved in the masterplanning, funding and contracting workstreams as well as taking a lead role in land acquisitions and the development of the new railway station.

PROCESS

While at Related Argent, responsibilities were focused on the commercial constraints that most often delay or destabilise large schemes: land control, development sequencing and risk, partner support and engagement and contract structures. We also supported colleagues on masterplan sequencing to improve efficiency and cashflow and led negotiations to secure remaining land interests required to bring the scheme forward. This included dealing with historic title constraints and supporting the use of compulsory purchase powers where necessary.

Following the establishment of Start Advisory, the team continued to advise the Joint Venture on a range of matters including further land assembly and land management work, commercial renegotiations and acting as the Joint Venture’s representative in the coordinated delivery of Brent Cross West Thameslink station.

RESULTS

Our interventions reduced delivery risk by

  • securing all the land needed to deliver the bulk of the scheme in advance of major investment in early phase works,

  • working through complex contractual renegotiations, we helped to decouple Brent Cross Town from the other elements of the wider scheme, increasing independence and control for the Joint Venture while reducing costs and obligations at the same time, and

  • collaborated with other stakeholders to ensure that the interests of Brent Cross Town were heard and its priorities protected.

Combined, these improved the scheme’s ability to proceed on a more secure footing.

A SPECIAL RELATIONSHIP

When Start Advisory was launched, the Brent Cross Joint Venture became one of our first clients and was central to the success of the business in its early years. We remain one of a very small number of businesses run by former team members who Related Argent have continued to deploy on active projects. The fact that the relationship has continued with repeat work from all parts of the Joint Venture client body shows the trust and confidence they have in the business and the work we deliver.

“As part of the Related Argent Brent Cross team from its early days, Ruairidh was trusted with securing the land needed to develop Brent Cross Town in cooperation with our JV Partner, London Borough of Barnet. This was one of the most complicated and essential elements of the project successfully, on time and under budget, and with a calmness that inspired confidence through delivery. His additional input supporting the contractual renegotiations with other parties and acting as the JV’s representative in delivery the new railway station were similarly valuable and impactful. We were happy to support Ruairidh and the new Start Advisory team when they began their business in 2018, and we continue to deploy them as valued advisors on the project to this day.”

– André Gibbs, Executive Director, Related Argent