Experienced in advising lenders and borrowers on a variety of financing work. Represents prominent financial institutions in transactional issues, facility agreements and debt refinancings. Particularly active in the real estate and healthcare sectors.
Strengths: One client emphasises its ‘friendly, capable team who have a can-do attitude and are always willing to provide advice and support.’
Another interviewee reports: ‘They are commercial, responsive and approachable.’
Richard Eldridge is described by a client as ‘a very creative thinker and someone who constantly thinks of commercial solutions.’ In addition to acquisition and development finance, he also has experience advising on interest rate swaps, particularly within the healthcare, property and technology sectors.
Chambers UK - 2019 edition
Penningtons Manches LLP's banking team is 'very responsive and practical in its approach'. Rich Eldridge heads the team and is noted for 'combining intellectual ability with commercial awareness'. Also recommended are Helen Drayton, who is 'a pleasure to deal with - very thorough, offering practical and relevant advice'; and the 'very proactive' John Chater.
[Property finance] Sarah Coates, who is a specialist in real estate finance, is also highly recommended.
The Legal 500 - 2019 edition
Experienced in advising lenders and borrowers on a variety of financing work. Particularly active in the real estate and healthcare sectors, in which it has gained a number of new clients, including Boys & Girls Nursery and M&P Developments.
Strengths: Sources describe the team as ‘exceptionally commercial, very prompt, efficient and flexible in terms of negotiation.’
Richard Eldridge wins praise for being ‘very knowledgeable’ and ‘is very highly regarded for his ability to get things done quickly and pragmatically.’ He acts for both lenders and borrowers on a range of matters, recently advising Industrial Chemicals on the financing by Lloyds Bank of the acquisition of a combined heat and power plant.
Chambers UK - 2018 edition
Penningtons Manches LLP acts primarily on the borrower side for clients in the healthcare, real estate, leisure and technology sectors, where the team advises on major project financing and transactional activity. Rich Eldridge heads the group, which includes James Went, and John Chater, who ‘responds quickly’ and ‘has a good commercial approach’.
Penningtons Manches LLP [Cambridge] is ‘very knowledgeable and easy to deal with, responding quickly and always willing to talk through existing and prospective deals’. The firm has several of East Anglia’s go-to practitioners in Cambridge-based Helen Drayton and real estate finance specialist Sarah Coates (who is ‘extremely pleasant, practical and willing to go the extra mile’). ‘The quality of advice is superior’, say clients of Drayton’s team.
[Property finance] The team at Penningtons Manches LLP is headed by Mark Phillips and Peter McElligott, and has experience with financings in a wide range of real estate sectors, including student housing, residential housing, retail parks and hotels and leisure. Reading-based John Chater is also recommended.
The Legal 500 - 2017 edition