Law firm Stephenson Harwood LLP has advised Schroder UK Real Estate Fund (SREF) on a £45 million purchase and forward funding agreement for One Cambridge Square, a development site in Cambridge, UK.

The speculative Grade A development will deliver 99,743 sq ft of office and retail space. In line with SREF’s environmental strategy, the development will also feature a number of sustainability aspects, including roof solar panels and a biodiverse brown roof.

The transaction marks SREF’s first investment into the city, and One Cambridge Square’s development will form part of the wider regeneration of Cambridge North, an area undergoing transformation - with the development of housing, commercial space, a public square, parks and community facilities planned over the next ten years.

The Stephenson Harwood team was led by real estate and projects partner Simon Brading, with support from partner Graeme Barton, senior associates Siobhan Doherty and Sarah Wotton, and associate Sarah Phillips. Further assistance was provided by tax partner John Meehan and senior associate Kate Worthington.