Freeths advises Cambridge City Council on landmark Park Street redevelopment

"Freeths advised Cambridge City Council on the Park Street redevelopment, a tri-partite scheme with Marick Management as developer and Staycity (Wilde brand) as tenant. The project replaced the ageing car park with a mixed-use site including renovation of the underground car and cycle park, enhanced public realm, cycle and EV facilities, and a 227-room aparthotel to generate long-term income."

Law firm Freeths advised Cambridge City Council on the successful completion of the Park Street redevelopment, a tri-partite arrangement involving Marick Management Limited as developer and Staycity as tenant. The transaction delivered a comprehensive redevelopment of the Park Street site. The scheme involved demolition of the ageing Park Street car park, renovation of the underground car and cycle park and the construction of a new mixed-use development featuring a 227-room aparthotel to be operated by Staycity under its Wilde brand. The proposals also include high-quality public realm improvements and enhanced cycle and electric vehicle facilities. The redevelopment forms part of the council’s wider strategy to modernise city-centre infrastructure, improve sustainable transport options and generate long-term income to support essential services. Freeths represented Cambridge City Council with a team composed by: Clive Pearce, Partner, Real Estate; Sophie Moonshine, Senior Associate, Real Estate; and Stephen Pearson, Commercial Consultant, who advised on public law matters. The firm advised the council on all property aspects of the transaction, including funding and implementation.

Freeths advises Cambridge City Council on landmark Park Street redevelopment

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