The extension of capital gains tax to non-resident investors in UK real estate has made life more complicated for fund managers. Until the recent changes – which came into effect on 6 April 2019 – the optimum way to structure inward investment was pretty straightforward. Unless the fund was to set up as a REIT […]
Fladgate’s Funds, Finance and Regulatory (FFR) Group has recently advised a Bahraini bank on the £15m acquisition of a development site on the outskirts of London within a Shari’ah funded joint venture structure. The team comprised Ella Leonard (funds partner), Philip Turner (real estate partner), Luke Morris (banking partner), Richard Kaufman (real estate partner), assisted […]
On 6 April 2016, the new “persons with significant control” (PSC) regime comes into effect. It is being introduced by way of changes to the Companies Act 2006 (CA 2006). From that date, UK companies and limited liability partnerships (LLPs) will be required to: take steps to identify the persons who have significant control over […]
Introduction This briefing highlights company law changes which impose material new obligations on UK companies and limited liability partnerships (LLPs). The changes are also significant for those who hold interests in such entities, as they will be required to supply information to the company or LLP and, in some circumstances, there may be an impact […]
Fladgate LLP acted on the £60m purchase and redevelopment of 6 Castle Lane SW1, a redundant college, from Land Securities. The college, near to Buckingham Palace, will be redeveloped as 28 apartments and three town houses by a Jersey Company owned by a Lebanese Fund. This is part funded by a substantial loan from a Middle […]
Fladgate is delighted that a number of its partners and associates have been ranked in the 2015 Super Lawyers UK List, published by Thomson Reuters. Super Lawyers Banking Law Paul Howcroft Kim McMurray Charles Proctor Business Affairs Paul Airley Avram Kelman Eddie Powell David Robinson Commercial Litigation Simon Ekins Commercial Property Antonia Brandes Allen Cohen […]
Fladgate LLP has advised on two high profile hotel deals: The acquisition of five ibis hotels by Starboard Hotels Limited, as part of a €32m portfolio sale by Accor. The sale of Chapel Street Hotel in Liverpool, part of the Hotel Indigo brand of hotels, to an international asset management company. Hotel developer and operator Starboard […]
Fladgate LLP has advised Tritax on a £71m deal with Accor to purchase a portfolio of 13 UK hotels for its HotelInvest business. The portfolio comprises 12 properties operated by Ibis and another by Ibis budget, with a total of 1,194 rooms. Three are located in London with the others in regional cities. Fladgate funds […]
Fladgate advised Equiom (Isle of Man) Limited, professional trustees to the Tritax Next EZ Unit Trust on the real estate investment sale of two Next distribution units, together representing over 1.1m sqft of high-bay distribution warehouse space, with ancillary adjoining land, at Brookfields Park, Manvers Way, near Rotherham to Legal & General Property. Legal & […]
Fladgate represented Tritax on the launch of the Tritax Prime Distribution Income Fund, which raised c£20m in equity matched by a similar amount of debt provided by Barclays Bank plc. The fund acquired a 750,000 sq. ft. big box distribution unit let to a 5A1 Dun and Bradstreet rated tenant. This tax efficient investment is […]
The Financial Conduct Authority (FCA) has published new rules and guidance on the promotion to retail investors of Unregulated Collective Investment Schemes (UCISs), and certain other schemes it deems similar (now collectively defined as non-mainstream pooled investments (NMPIs)). As a result, from 1 January 2014, the only retail investors to whom NMPIs may be promoted […]
Fladgate LLP has advised longstanding client Tritax on the formation of a new fund, raising £16m for the forward funded development of a Grade A office building in Aberdeen to be let to GDF Suez E&P UK. The Fladgate team comprised funds partners Ella Leonard and Philip Turner, assisted by corporate solicitor, Michelle Smith. DWF […]
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