Field Fisher Waterhouse advises Stagecoach on property deals for new franchise
04 December 2007
Field Fisher Waterhouse LLP has advised
Stagecoach East Midlands Trains Limited on the property aspects of
the new East Midlands rail franchise.
The firm advised on leases for 90 stations and
four depots (with options to renew), which included leases at the
new St Pancras International Station and leasebacks of several
stations to Network Rail. The firm also advised on arrangements for
a new station being built at East Midlands Parkway.
East Midlands Trains is Stagecoach Group's new
train company for the East Midlands and South Yorkshire. The
franchise began in November 2007, and incorporates the previous
franchises operated by National Express on the Midland Mainline out
of St Pancras and the eastern part of Central Trains. It is planned
that the franchise will run until 2015.
Stagecoach Group is a leading international transport group,
with extensive bus and rail operations in the UK and North America.
The Group's businesses operate around 12,000 vehicles and rolling
stock, and employ around 27,000 people.
Real estate partner
Martin Barrett led on the deal, assisted
by solicitors Alexander Prew and Matthew Smith. This deal reflects
the strength of the firm’s Real Estate
Group, and the cross-practice Rail Group. Martin also recently
acted for Stagecoach on the renewal of their station and depot
lease on the South West Trains network, including leases at
Waterloo.
Martin Barrett
said: “The firm has a strong rail expertise and we are delighted to
have advised Stagecoach, one of the key players in UK transport, on
another property transaction.”
Simmons & Simmons advised Network
Rail.
For further press information please contact
Louise Eckersley or
Scarlett Yianni.