Project
Private equity investment in land promotion business
Terra Firma Capital Partners – Richborough Estates Ltd
Lichfields advised Terra Firma on its September 2022 acquisition of a majority stake in land promoter Richborough Estates.
Richborough Estates’ portfolio comprised a large number of potential development sites at different stages of the planning process. Appointed in July 2022, and working alongside legal and property advisors, Lichfields worked over a six week period, providing planning due diligence on a large sample of individual sites and giving strategic advice to assist Terra Firma in its consideration of the business and wider policy environment within which it operates. With Richborough Estates’ portfolio spanning several regions, Lichfields mobilised a team assembled from across its office network whilst drawing on its deep sector-expertise in residential land promotion.
Lichfields input on the planning prospects of the Richborough Estates sites portfolio across England, completed during the summer holiday season, was thorough, timely and succinct. Reporting was accessible to both a planning and non-planning audience. They provided advice on the wider housing and planning machinations in play in England and engaged effectively with ourselves and investors whilst providing challenge to the Richborough Estates team.
Terra Firma