Beijing investor ploughs £800m into first 'Airport City' scheme

Eversheds and Berwin Leighton Paisner (BLP) are among five firms to have secured roles on a British-Chinese joint venture to develop the UK's first airport business district. 

Manchester Airports Group (MAG) has secured an £800m investment from China's Beijing Construction Engineering Group (BCEG) to build the 'Airport City' project. 

Construction group Carillion and the Greater Manchester Pension Fund are already on board as partners on the five million sq ft development around Manchester Airport (pictured), which will feature a mix of offices, hotels and industrial space. 

Eversheds is advising MAG on the agreement, fielding a team led by commercial partner Kuljeet Gill, alongside corporate real estate partner Phillip Tunney, financial institutions partner Ronald Paterson and construction partner Nigel Proctor.

Meanwhile Addleshaw Goddard head of infrastructure, projects and energy Mike O'Connor is leading a team advising MAG on construction matters.

BLP is acting for both BCEG, a new client for the firm, and development manager Argent. BCEG is taking advice from BLP corporate finance partner Simon Pollock and real estate partner Damian Fleming, while projects partner Tessa Kimber is representing Argent.

Slaughter and May won the mandate from Carillion, with a team led by corporate finance partner William Underhill. 

Nabarro is representing the Greater Manchester Pension Fund, with a team led by funds partner Deborah Lloyd.

Pollock said: "It is a very interesting and challenging project to work on from a legal perspective, particularly given the number of partners involved, all of which are bringing something different to the table in different proportions."