Pinsent Masons has tied up one of its largest-ever PFI mandates opposite a raft of City competition with the national firm advising the London Borough of Islington on a long-term housing programme.

Pinsents scooped the instruction on the deal, which is worth around £550m, after previously acting for Islington five years ago on the borough's first housing PFI scheme.

The latest deal, which closed earlier this month, focuses on the refurbishment of more than 4,000 leasehold and tenanted properties in the desirable north London borough and their subsequent maintenance for a 16-year period.