Real Estate

The real estate sector is a core part of our business and our heritage as a firm. With such a long track record of expertise and success in this field, our lawyers deliver an exceptional service characterised by robust, commercial and technically expert advice.

We advise on all the key issues affecting the property industry, including regeneration and development schemes, investment, funding, construction matters, property disputes, portfolio management, planning, taxation and the creation of corporate structures.

In addition to our core property team we also have specialists in the areas of construction, planning, environmental, property finance, management and property litigation. We draw on the skills and experience of our corporate and tax groups to provide clients with advice on sale and acquisition structuring, both onshore and offshore, stamp duty, stamp duty land tax and VAT planning.

This strength in depth and breadth enables us to support sophisticated transactions including those involving complex structures and offshore elements or those with attendant regulatory requirements. We are also able to utilise our extensive international experience and contacts to complete cross-border transactions for a diverse range of companies.

Our real estate clients include multinationals, major institutions and listed companies, clearing banks, lenders, developers and entrepreneurs.

Stephen Lewis

Stephen Lewis

If you have any questions or queries please call Stephen on +44 (0)20 3036 7231 or email slewis@fladgate.com

A “fantastic team” acts for a range of clients, including property funds and REITs, developers, hotel and leisure operators and domestic and international investors.

Chambers UK

Industries

Real Estate team

 

Retail PD changes

Miles Crawford

To be or knot to be

SDLT is changing on 1 March 2019

Nick Wood

Frustrated by Brexit?

Roy Perrott

Fladgate advises an off-shore group on a disposal and an acquisition

Gideon Dabby-Joory, Roland Brandman, Nick Wood, Miles Crawford, Alex Haffner, Adam Baker, Anthony Reeves

Fladgate acts for Equitix on the £47m acquisition of Crickhowell House, Cardiff

Is this the end of Opco/Propco structures in the hotel industry?

Fladgate advises Richard Mille on Bond Street store acquisition

Fladgate’s Corporate team is further strengthened with the appointment of outsourcing and technology partner Tim Wright

Fladgate advises Patron Capital and APAM on multiple lettings at Arlington Business Park

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Fladgate’s Corporate team is further strengthened with the appointment of outsourcing and technology partner Tim Wright

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Fladgate is delighted to announce the appointment of Corporate partner Tim Wright. Tim joins having previously led the global sourcing practice group at Pillsbury Winthrop Shaw Pittman LLP in London. He specialises in complex, often cross-border, commercial, technology and outsourcing transactions, with a particular focus on the financial services, healthcare and technology sectors. He is […]

Fladgate advises Patron Capital and APAM on multiple lettings at Arlington Business Park

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Fladgate LLP has advised Patron Capital, the pan-European property investor and its asset management partner and leading real estate adviser APAM, in relation to multiple lettings at Arlington Business Park, Reading. Patron and APAM have agreed the pre-let of the entire building 1240 comprising approximately 34,350 sq. ft. to NTT Security, the UK subsidiary of […]

Airspace leases: property out of thin air

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Introduction It is the desire of almost every property investor to make their assets “sweat” by maximising the income available from them. One way investors achieve this is by granting leases of the airspace above their properties. Investors may, for example, lease the airspace to a developer who can help them improve the density of […]

The increasing demand for serviced offices and how landlords can help secure lending

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The continued growth of the serviced office sector presents an investment opportunity for lenders providing issues surrounding perceived risk and valuation can be circumvented. The serviced office sector is evolving as businesses are increasingly demanding flexible, short-term office leases. Serviced offices are particularly attractive to SMEs and start-up businesses as they avoid a long-term commitment […]

Landlord’s intention to redevelop…or not

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The American philosopher, Ralph Waldo Emerson, once said “Once you make a decision the universe conspires to make it happen”.  Since he died in 1882 he can be forgiven for not knowing anything about the Landlord and Tenant Act 1954, but in any event the Supreme Court has concluded in S Frances Limited v The […]

Tenants’ top tips on reducing their property related outgoings

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While attention-grabbing headlines announcing the “decline” of the high street may be an example of overly gloomy reporting, the reality is that these are tough trading times. It seems as though every week there is a new report of another retailer or restaurateur calling in insolvency specialists. There are of course ways in which expense […]

Concurrent delay revisited

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In its recent decision in the North Midland[1]case, the Court of Appeal upheld a contractual provision that would mean that the contractor was not entitled to an extension of time to the completion date for any period of concurrent delay for which the contractor was responsible.  It would be unsurprising if contract draughtsmen took this […]

Tenants’ top tips on telecommunications

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Gone are the days of communicating via smoke signals and carrier pigeons.  Billions of emails are sent every day. Telecommunications is therefore of vital importance to most, if not all, 21st century businesses. Many tenants’ focus is therefore on their ability to extend the telecommunications services at their premises. Broadly speaking, tenants are in a […]

Fladgate continues with strong showing in Chambers UK 2019

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Fladgate LLP has continued to be highly rated by Chambers Guide to the UK Legal Profession 2019, with a number of the firm’s partners ranked as leading individuals. Ranked Departments Commercial and Corporate Litigation Fladgate is a recommended firm. * Construction: Purchaser What the team is known for Well-regarded practice with a purchaser-side focus. Advises […]

“No-deal Brexit: civil and commercial cooperation” guidance published by the Law Society

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Last month the Law Society published guidance (found here) for solicitors, concerning civil and commercial cooperation between the UK and EU member states in the event of a “no deal” Brexit. In short, in the event that the UK exits the EU’s institutional structures immediately/without a transition period, cooperation between the legal regimes of the […]

Outstanding rent review on assignment

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When a commercial tenant no longer requires their premises and they want to dispose of the property to a third party they can either assign (sell) their interest in the lease or grant an underlease.  There are many factors which should be taken into consideration when deciding how to dispose of the lease and in […]

Fladgate LLP achieves across the board rankings in Legal 500 for 2018

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Fladgate LLP is delighted to have achieved strong rankings in the recently launched 2019 edition of the Legal 500 Guide to the UK Legal Profession. The firm achieved 25 rankings, with 61 lawyers attaining 98 individual recommendations. Corporate and commercial Commercial contracts Fladgate LLP’s ‘first-class team’ provides the full spectrum of commercial contracts advice to broadcasters, hotel owners […]

Well-reputed specialists in representing mid-size businesses and property developers and investors. Effective in transactions, including those complicated by tax or offshore concerns, and experts in the hotels and leisure sector.  “They have a commercial view and are quick to act while still providing sound advice when the timeframe allowed is limited.”  “I found them very good and well rounded.”

Chambers UK

Fladgate LLP has an investment, funds and development practice and an increasingly busy hotels and leisure team. The firm has been advising Cathedral Group on various regeneration projects including a £57m mixed-use scheme at Deptford Rise, and acted for Mount Anvil on the purchase and funding of a canal-side development in Wembley. Clients describe the service as “excellent”, “with partner contact throughout the instruction, prompt response times and a practical, problem-solving approach”.

Legal 500

Known for representing high net worth individuals and private family trusts. Also recognised for property matters in the hotels and leisure sector and for corporate real estate work. Strengths: Client service: “Clear, accurate, dynamic, reactive. In one word: excellent!” Commercial awareness: “We get value because they close deals: they are good closers.”

Chambers UK

Acted for a private family trust on the acquisition of a joint venture company owning Marks & Spencer’s Castle Donnington distribution centre. Acted for Cathedral Group on the £78 million mixed-use development and regeneration of Caxton Street North and Hoy Street in Canning Town.

Chambers UK

“Outstanding, and comparable to the very best mid-tier firms”, Fladgate LLP recently advised Cathedral Group on a £78m mixed-use development and regeneration scheme. With hotels and leisure a notable area of strength, the firm also advised Lowy Group on the £33.5m sale of the Umi Hotel. Gideon Dabby-Joory “always has the answers”, and Stephen Lewis, Allen Cohen, Richard Reuben and Philip Turner are also recommended.

Legal 500

Well-reputed specialists in representing mid-size businesses and property developers and investors. Effective in transactions, including those complicated by tax or offshore concerns, and experts in the hotels and leisure sector. Also advises on residential development projects. “They’re absolutely brilliant! They’re informative – they break things down and translate them into layman’s terms so we can understand what the impact of our decisions will be,” one client comments. Advised on CNM Estates’ purchase of Tolworth Tower and on its proposed redevelopment.

Chambers UK

Advised Migdal Insurance on the £40 million acquisition of two unit trusts which own an Edinburgh office building. Also advised on a £35 million share purchase transaction in a company which owns three shopping centres. Daniel Polden handles property and real estate finance transactions on behalf of both international and UK-based clients. He is active in commercial real estate development, as well as advising investment transactions.

Chambers UK

 

 

Fladgate LLP’s ‘strong team with strength from partners to associates’ is ‘very experienced in the leisure sector’, where key players include the ‘very commercial and deal orientated’ Stephen Lewis, and Mark Saunders, who is ‘market leading on title and lease issues and excellent at large transactions, especially cinemas’. Saunders recently advised Odeon on the opening of a cinema in the new BH2 leisure complex in Bournemouth. The practice is also noted as being ‘a very good source for guidance in difficult transactional situations’, and in one highlight Nick Mumby acted for Aldgate Tower Investments on its £346m sale to a joint venture between China Life and Brookfield Property Partners.

 

 

Legal 500

Other names to note include the highly recommended Gideon Dabby-Joory, who represented an offshore private family trust on the £35m disposal of a brownfield site for development in St Pancras, and senior associate Amanda Hado-Bodfield, who ‘gets the deal done’. In the retail sector, high-end tenant clients include Roche Bobois and Jurlique UK. The ‘very insightful’ Richard Reuben leads the team.

Legal 500

  • Patron Capital IV LP – £75m headline acquisition, by a joint venture between Patron Capital and APAM Ltd, of the Arlington Business Park in Theale, Reading from the Arlington Business Parks Partnership. The Arlington Business Park is considered to be one of the Thames Valley’s most established business parks and includes ten office buildings let to a diverse occupier base, including Wrigley, Wolseley, Hewlett Packard and Vodafone, amongst others.
  • Hodson Developments – acquisition and financing of a substantial part of a development site at Chilmington Green, Ashford. Chilmington Green will bring a vibrant mixed–use new community to the town of Ashford in Kent and will provide 5,750 new homes in three distinctive neighbourhoods as well as retail, community, social and recreational facilities.
  • Aldgate Tower Developments – £200m financing of Aldgate Tower, with funding provided by Starwood Capital, and subsequent letting of floors 11 & 12 to Tag Worldwide for a term of ten years. Tag Worldwide is part of the Williams Lea Group, owned by DeutschePost DHL.
  • Offshore group – acquisition of Camden Lock Market (a site in excess of one acre, housing 250 market stalls, 50 shops, 20 workshops and five food outlets); the acquisition of 50% of shares in the offshore group owning Camden Stables Market and a large development site known as Camden Lock Village; and a £230m refinancing facility secured on Camden Stables Market with affiliates of Nomura International Plc.
  • Cathedral Group – £78m mixed–use Canning Town development and regeneration scheme to be carried out on land owned by the London Borough of Newham, including entering into agreements with the freeholder, London Borough of Newham, Galliard Homes and the occupational leasehold owners of the site.
  • Tritax Securities Limited – acquisition of a hotel portfolio from LR Economy Hotels Limited for a consideration of circa £70m via a collective investment scheme and the sale to Accor of a £71m portfolio of 13 UK hotels for its HotelInvest business.
  • CNM Estates (Tolworth Tower) Limited – acquisition of Tolworth Tower for £53.5m.
  • The Medical Defence Union – lease of 47,000 sq ft of office space on levels 32 and 33 at One Canada Square, Canary Wharf, London E14 from Canary Wharf Group.
  • Madison International Realty – real estate aspects of the acquisition of a 50% ownership stake in a London office portfolio from TIAA Henderson Real Estate. The stake in the Houndsditch Estate portfolio was purchased from TH Real Estate on behalf of its Central London Office Fund, creating a new joint venture partnership between the two firms. The £200m portfolio is comprised of five properties clustered in an area near Liverpool Street station.
  • British Steel Pension Fund – infrastructure agreements following a successful appeal against a refusal of planning permission for a mixed–use development comprising 7,310 sq m industrial warehousing unit, 8,000 sq m retail store and a petrol filling station to be occupied by Asda.
  • Weston Homes Plc – rearrangement of their group financing, involving a reorganisation of their existing £105m facility plus a new £3.5m bilateral facility to enable the company to complete an important strategic acquisition.

Integrated

Our clients come to us to solve problems that are often complex and multifaceted. We draw together the multiple strands of a business or personal challenge into a coherent, integrated legal response that combines the knowledge and experience of experts in all the relevant fields.

Partner-led

We operate in small teams in which partners not only take the lead but also do a significant amount of the detailed work. Clients can be assured that the partners they engage and brief will remain closely involved in developing and delivering the advice as part of our close-knit, expert teams.

Experienced

Fladgate has a long heritage of delivering high-quality legal advice. We have been providing practical legal solutions to businesses and private clients for over 250 years. Today we are one of the UK’s top 100 law firms, with over 80 partners and a reputation for providing solutions that work.