International law firm Taylor Wessing has acted for its client Wainbridge, in connection with the purchase of 11-15 Grosvenor Crescent, SW1, from The Grosvenor Estate. The £350m scheme will comprise eleven super-prime apartments with external terraces overlooking Belgravia, with associated parking and leisure amenities.

Taylor Wessing advised on the acquisition, as well as the related acquisition and development debt funding provided by Urban Exposure and Letter One. This represents Letter One's first financing in the European real estate lending market. 

Rob Rackind, principal and co-founder, Wainbridge said: "London's status and desirability as an international centre means that these extremely exclusive properties are in very high demand and, as one of the only major new build residential development schemes in Knightsbridge/Belgravia, we anticipate that we will be able to achieve premium values. Taylor Wessing were instrumental in our achieving the acquisition of this prime freehold site and in securing its funding. They have provided us with outstanding support."

Edouard Fernandez, principal and co-founder, Wainbridge, added: "This emblematic scheme builds on and is a continuation of our experience in Monaco, Cap Ferrat, St Barths, St. Tropez and Paris, where some of our most iconic and luxurious residences are based."

Keith Barnett, Real Estate partner and business group director at Taylor Wessing said: "Our full services were employed across several practice areas to ensure the successful delivery of the acquisition, development and financing of this landmark acquisition. Internationally focused businesses such as Wainbridge who are leaders in their market sectors, are ideal clients for our multi-disciplinary teams"

The team was led by Keith Barnett and included Martin Yells, Rob Young, Christina Kelly, Gabriel Estevez, Paul Leamy and Hanna Ross.