Introduction In the current property market deals are taking longer to agree, exchange and complete which is a source of frustration for all parties involved. Completion can be delayed because buyers struggle to get their funding (either from banks or investors) lined up in time for completion. This leads to the contractual completion date passing […]
Fladgate was pleased to act for KCR Residential REIT plc on the subscription by private equity fund, Torchlight for 9 million ordinary shares for a total subscription of £4.05m and the grant of an option to subscribe for an additional 50 million ordinary shares. KCR intends to consolidate its presence in the UK and to […]
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 […]
When considering taking a retail lease of a property, the most important point in the heads of terms from the tenant’s perspective will be its ability to trade or carry out its services from the property. If it is unable to do so then the property will be useless to it. However, when drafting heads […]
Almost all leases include an obligation on the landlord to insure the building. The main reason for this is that the landlord has a capital interest in the building and wants to control its state of repair by way of insurance and service charge rent. Additionally, where the building has several tenants, it is far […]
A lot of time, energy and concentration is spent by tenants settling heads of terms and negotiating the lease when they first look to take a new lease. But, as the needs of tenants vary and change throughout their lifecycle, tenants often need to adapt the property they are trading from. They need increasing flexibility […]
Fladgate has advised on the acquisition of a shopping centre known as The Harpur Centre in Bedford for Harpur Centre Bedford Limited (a wholly owned subsidiary of a Jersey Limited Partnership) from Zurich Assurance Plc. Tellon Capital LLP was the acting asset manager on the transaction. James Burchell of Tellon Capital commented: “Daniel and his […]
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