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Travers Smith LLP has advised European leisure park operator Looping Group on its acquisition of iconic British theme park Drayton Manor.

Covid-19 created a global pause for all of us. As lockdown in the UK eases, many companies are now taking stock of lessons learnt in the crisis.

1. It can be helpful to view your leasehold portfolio in terms of:

• Leases that are viable longer term as they are;
• Leases that could be viable with some variations, and what those variations might be; and
• Leases that are unlikely to be viable longer term, whatever the variations that could be sought.
  
  

2. Landlords are not obliged to agree to variations or an early surrender of your leases. It is important to enter into discussions with a clear objective.

This series of bitesize videos will be a chance to hear from various members of the Real Estate team on need-to-know updates and topical issues in the sector.

Following the decisions of Debenhams and Instant Cash in 2019, 2020 looked to be an uncertain year for the landlord CVA. Six months on and a global pandemic later, CVA activity is rising again to cope with a seismic shift in the retail and casual dining sector.

The UK Government is under increasing pressure to set out how it proposes to manage a possible easing of the Covid-19 lockdown in order to allow more everyday activities to resume, particularly economic activity. The Prime Minister has urged caution, but we think it makes sense to look ahead to how the lockdown might be eased so that businesses can take appropriate steps to prepare.

This briefing was updated on 17 March 2021.

This briefing was updated on 26 March 2021.

This briefing was updated on 26 March 2021.

Developers, pre-let tenants and funders are all looking hard at their development agreements, development funding agreements, agreements for leases and building contracts to assess what impact the COVID-19 pandemic, and the Government's response to it, will have on their current construction works in England. We outline in this note some of the key information and issues for such parties to consider before deciding whether or not to suspend or continue their works.

This inaugural edition of Investment Insights for Pension Funds is devoted to the current economic crisis caused by COVID-19. Experts from across the firm share their insights on how companies are being affected, the actions they are taking, and the implications for investors.

Travers Smith LLP has advised Ancala Partners (Ancala) on the acquisition on behalf of its European Infrastructure Fund II of a majority interest in Holmleigh Care Homes Limited (Holmleigh) from the founders Rod Correia and Matt Western who will continue to owner a minority interest in Holmleigh.

This briefing was updated on 26 March 2021.

The UK Government announced an unprecedented stimulus package to help support businesses in the wake of the COVID-19 outbreak. These measures, originally announced by the Chancellor of the Exchequer in his budget on 11 March 2020, have since been rapidly expanded.

The global spread of coronavirus (now officially called Covid-19) presents a number of challenges to the UK business community. Whilst we hope that the outbreak is contained and does not become a pandemic, we recognise that businesses have to make contingency plans for a worst case scenario.

On the 16 March 2020, the Care Quality Commission ("CQC") wrote to all registered health and social care providers about how they were adapting their regulatory approach in response to the COVID-19 outbreak (the "CQC Guidance").

COVID-19 has prompted some swift action on the part of MHCLG, with relaxations in delivery times and temporary rights to changes of use for pubs and restaurants. There are also changes to the Planning Inspectorate's approach to appeals to be aware of.

Our regular round-up of recent developments and topics for your radar, and news of planned training and networking events for in-house counsel in 2020.

Travers Smith LLP has advised Adventurous Journeys Capital Partners (AJ Capital Partners) on its acquisition of the Macdonald Rusacks Hotel and the Macdonald Randolph Hotel from the Macdonald Hotels & Resorts portfolio.

The process of applying for planning consent increasingly requires ever more detailed statements and assessments before an application is determined. This often involves onerous commitments by developers in order to satisfy pre-commencement conditions.

There is an emerging trend towards post-completion or post-occupation reviews of the efficacy of planning obligations which result in clawbacks or uplifts in financial contributions or mitigation works, sometimes for a number of years post-completion. This leaves frayed edges to completion-driven real estate transactions and can leave tenants potentially exposed to unknown or unquantified additions to service charges.