Clarke Willmott LLP, a national law firm, has been appointed to the legal panel of the Development Bank of Wales.
Owned by the Welsh Government, the Development Bank of Wales manages £2 billion in funds and supports over 3,000 businesses across Wales. With its headquarters in Wrexham and additional offices in Cardiff, Llanelli, Newtown, and Llandudno Junction, the bank plays a vital role in business growth and economic development.
This appointment strengthens Clarke Willmott’s presence in Wales, providing expert legal support for the bank’s funding initiatives.
It provides loans, equity and seed finance for Welsh businesses, people and communities in support of the Government’s wider economic objectives, such as the transition to a low-carbon economy and developing new homes and commercial property.
Clarke Willmott’s Cardiff office has been appointed to its legal panel for two years, to advise on loans of £1 million (commercial) or £1.5 million (residential).
Clare Gregory, partner in the commercial property team at Clarke Willmott in Cardiff, says her team, along with the firm’s construction and planning teams, would be involved.
“Our Cardiff office is now ten years old, so being appointed to the Development Bank of Wales’s legal panel is a great way to start the next chapter,” she says.
“We were delighted to have been selected by the Development Bank to act on its higher value transactions. This demonstrated to us that they believe in the wealth and depth of experience that Clarke Willmott possesses in the real estate finance sector, and across several other disciplines.
“We are very much looking forward to supporting the Development Bank’s in-house team, assisting in achieving its objectives and ultimately unlocking so many more opportunities in attracting investment and business to Wales. We are passionate about this and sees it as the key to our own future success.”
Nicola Crocker, fund manager for property at the Development Bank of Wales, said: “We’re pleased to have appointed Clarke Willmott to our legal panel. They bring a great deal of sector experience and insight into their role and we look forward to working with them.”
Clarke Willmott is a national law firm with offices in Birmingham, Bristol, Cardiff, London, Manchester, Southampton and Taunton.