Trowers & Hamlins and CMS Cameron McKenna have picked up lead roles on the £121m acquisition of the North Wharf Gardens development site near London's Paddington.

Bahraini development company Meritas is acquiring the 710,000 sq ft site – the final phase of the Paddington Waterside development to be sold for redevelopment – from Westminster City Council.

Trowers acted for Meritas on the deal, fielding a team led by client partner Peter Ward with support from London development group partners Adrian Leavey, Sangita Unadkat and Christopher Proudley.

CMS Cameron McKenna acted for longstanding client Westminster City Council, with London real estate partners Mark Heighton and Martin Pennell leading a team that also included planning partner Chris Williams.

The North Wharf Gardens scheme will comprise five mixed-use buildings, with planning consent for 434 homes, 140,000 sq ft of office space and 200,000 sq ft of mixed retail, community and commercial space. The site was previously occupied by North Westminster Community School.

Trowers' Leavey commented: "Every project of this scale is a challenge but it was particularly interesting because it was a traditional deal in an unconventional format, because the owner is also the one granting planning permission."

He added: "It's an exciting time for Meritas, which is in the market for medium and long-term development, which maybe more challenging but can also have a greater return."