Penningtons acts for Gordon Murray Design

Penningtons Solicitors LLP has advised Gordon Murray Design Limited on the establishment of its new base in Shalford, Surrey. Gordon Murray Design's first project will be the multi-million pound development of the innovative City Car. The environmentally friendly car will be available for large-scale production as well as for smaller specialist vehicle producers. It will offer a low sales price, drastically reduced running costs and cult styling. Aimed initially at the UK, European and Japanese markets, it will be designed to be different - with a lower parts count, faster assembly, low weight for efficiency and a size and shape to ease traffic and parking problems.

Gordon Murray is the ex-Technical Director of McLaren International and McLaren Cars Limited and has a long history of design and development in the racing world. He and his colleagues will initially be building the prototype of the City Car at their new headquarters before embarking on another project which will take a similarly radical approach to a new high performance sports car.

Penningtons' commercial property team, led by partner David Graham-Smith, advised Gordon Murray Design on the site acquisition of the specialist premises at Shalford. The facility combines a modern building with an historic wharfside site.

In addition, Penningtons' business services team, led by partner Sarah Scarlett, advised the company on the funding aspects of this new project, working to an extremely tight timescale to ensure the transaction was completed on schedule. Financing has come from US based venture capital company Mohr Davidow Ventures and the UK based Caparo Group, which is already substantially involved in the motor car industry.

Commenting on the transaction, David Graham-Smith, who is based at Penningtons' Godalming office, said: "This is an exciting project combining green issues with technological innovation. We are delighted to have been able to assist Gordon Murray Design as it expands the boundaries of automotive design."