No two property transactions are the same; the aim of the parties is to ‘get the deal done’ but at the right price with the right risk profile. The team at Kingsley Napley are able to guide clients through the process and problem solve. We provide robust advice and take a proactive and creative approach to finding solutions when required.
We understand that the stakes and associated pressure on a transaction can be very high, in such situations you need considered strategic and tactical advice, often within a tight deadline. Getting the best deal for you is our priority, whether that means negotiating a saving or acting quickly with pragmatic commercially focused advice to secure your site.
We have particular expertise in the following areas:
- Asset Management of Commercial Property
- Development and Site Assembly
- Landlord and Tenant
- Property Investment
- Real Estate Finance
Recent transactions
Development
Purchase and onward parcel sales of substantial development site
Acting on the development of a 625 acre mixed use (primarily residential) site in Northamptonshire which has outline planning consent for 3,000 homes with extensive community facilities and commercial space and on subsequent parcel sales. Parcel sale agreements are complicated and are conditional on the house builder or commercial operator obtaining reserved matters approval and the client having completed various infrastructure works. Large portions of the site are subject to Farm Business Tenancies and we have advised on complex documentation to ensure vacant possession of the various phases of the site can be secured when necessary for infrastructure works or for parcel sales. The site was also land locked and so as well as negotiating deeds of grant from several other landowners, we had to make an application to Land Registry for registration of a brook on the basis of the ad medium film aquae principle to enable full access and services to the land being sold.
Sustainable Urban Development
We act on a mixed use sustainable urban development in Kettering with outline planning consent for 5,500 dwellings, five schools, open space, local centre facilities and associated infrastructure. We are instructed to advise on infrastructure and construction matters, agreements, strategic land acquisitions and the disposal of serviced land parcels to various commercial occupiers, house builders and registered providers, regional and national. We are currently instructed to act for them on land parcel sales to national developers with values ranging from £4 million - £20 million, the acquisition of further development land and various associated construction and infrastructure matters.
Investment
Sale of London Trophy Buildings
Acting for a substantial property investment company on the sale of several central London trophy buildings, including The Hard Rock Café, for prices ranging from £25m to £53m.
We acted on the purchase of an industrial site as an investment for over £3 million. The matter was complicated due to it being conditional on the Seller obtaining planning permission on their related transaction. The title was particularly complex with a number of restrictions on title and we successfully protected our client by making it a condition precedent to completion that these certificates were provided on completion. We have subsequently handled the sale of the property for the client for over £6 million.
Landlord and tenant
Pre-let at science campus
We acted for this client in respect to a pre-let of commercial units to a company developing innovative technologies that reduce orbital debris. The lease was particularly complicated, with provisions relating to capital contributions and mezzanine flooring being installed by tenant.
Long Lease to Travelodge
We acted for the developer in the forward sale, by way of long lease, of a 120 bedroom hotel investment near London Bridge pre-let to Travelodge. The sale was complicated by numerous pre-completion conditions which needed to be satisfied and we guided our client through this process working with our construction team to ensure a streamlined process.
We are separately acting on the sales of the residential apartments within the development, comprising 49 residential apartments.
Private rented sector
PRS deal of the year – Resi award
Advising Long Harbour on the purchase through to subsequent £60m sale of the ‘One Eighty’ development in Stratford. The team were initially instructed to advise on the purchase, including financing, of the partially completed 26 storey residential tower, mixed use development, overlooking the Olympic Park.
Following the purchase, the team then advised Long Harbour in securing all remaining approvals necessary to complete construction. Significant renovation was required before the building could be re-launched. Four months later, the building was fully let. The team continued to work closely with Long Harbour, advising them on the subsequent £60m sale to Aberdeen Property Trust in what was the largest single asset residential deal of the year.
The transaction was voted ‘PRS deal of the year’ at the RESI awards 2016, with the judges praising the deal for its 'gutsy initial purchase and bold acquisition'.
Forward purchase form a national housebuilder
We acted on the forward purchase of a new build block of 85 flats from a house builder for over £19 million. We have created standard processes, reporting and transaction documents for the PRS client, which are used on all acquisitions.
Legacy transactions
Sale of a large residential development site and adjoining Motor Speedway racetrack/stadium for circa £74m
Acting for longstanding clients on the property and construction aspects of a sale of one of the largest residential development sites in England. A data room was set up for the transaction containing all relevant documentation. The Real Estate team produced extensive reports on title for the benefit of the Buyers.
Drafting and negotiating a complex lease
Acting for long standing clients in negotiating and completing a highly complex agreement for lease and lease at an annual rent in excess of £2m. The new lease was for 25 years, with an option for the tenant to renew for a further 25 years. An associated agreement allowed the tenant to link the building to a neighbouring building. At the end of the term the tenant is to deliver up the building with vacant possession and back to office use (from a planning perspective) and to pay compensation to the landlord if it fails to do so.
Lateral thinking to secure a new development site
A long-standing developer client was in competition with another developer to acquire a development site in SW London, comprising a block of flats, in the process of being ‘optioned up’ by another developer from the flat owners. Our client was so keen to buy the site that he was prepared to contract to buy all the flats in the block unconditionally, albeit for a lower price.
We advised the client to offer on one of the flats for the full price and to exchange unconditionally. The client was able to secure a deal to buy one of the flats which we exchanged this within 24 hours. As a consequence, the other developer withdrew from the transaction and the remaining lessees in the block agreed to option their flats to our client.
Our client subsequently obtained planning permission for a residential development and then exercised the options to acquire the leases and their share of the freehold.
What Clients and directories have said
The team is highly responsive, and we get an excellent client service."
The Legal 500, 2024
They are swift and thorough, and good at listening to us. They take our unique requirements into consideration."
The Legal 500, 2024
What makes them stand out is the ability to translate technical terms into understandable terms. They are very informed on the potential impact of clauses in contracts."
The Legal 500, 2024
The solicitors offer pragmatic and commercial advice."
The Legal 500, 2024
Friendly, approachable and accessible."
The Legal 500, 2024
Daniel Browne
Partner
Marisa Abrahams
Legal Director
Daniel Clyne
Partner
Claire Lamkin
Partner
Victoria Lowe
Partner
Peter Metcalfe
Partner
Vanessa Rhodes
Partner
Ian Silverblatt
Partner
James Caswell
Legal Director
Neil McAlister
Legal Director
Angela Must
Legal Director
Tom Beak
Senior Associate
Matthew Copeland
Senior Associate
Rachel Redwood
Senior Associate
Katie Sheikh
Senior Associate
Gemma Mallett
Associate
Harry Petrou
Associate
Jessica Rice
Associate
Alekh Singh
Associate
Sacha Jose
Trainee Solicitor
Libby Klinke
Trainee Solicitor
Peter Paul
Senior Paralegal
Nadine Thorpe
Trainee Solicitor
