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Travers Smith LLP has advised new client Adventurous Journeys Capital Partners (AJ Capital Partners) on its acquisition of the DoubleTree by Hilton Hotel Cambridge City Centre.
The decision in the LifeCare appeal (APP/X5210/W/18/3198746 10 June 2019), in which the Planning Inspectorate held that future income should be included in a viability analysis, adds further fuel to the fire about how various kinds of retirement living and elderly accommodation, with or without care services, are classified under planning law, and the impact that this will have on the viability of such developments.
Travers Smith LLP has advised London Resort Company Holdings (LRCH) on its major new licensing deal with Paramount Pictures as part of the development of the multi-billion pound London Resort theme park planned for the Thames Estuary.
Travers Smith LLP has advised Agrial (the leader in the fresh vegetable market in the United Kingdom thanks to its Florette brand) on its acquisition of Angflor, the innovative year-round protected salad growing operation based close to Colchester in Essex. The business has been renamed Agrial Fresh Farms.
The judge in the recent case of Canary Wharf v EMA has found in favour of the landlord, Canary Wharf. Brexit will not frustrate the EMA's lease on either of the grounds argued: supervening illegality or frustration of common purpose.
Andrew Ross and Sarah Quy discuss a case where the court emphasised the public interest in honouring private rights.
The question of which use class applies to a care-home for the elderly or others in need of care has been addressed once more in a recent Cornish appeal decision, in which dwellings for over-55s were classified as C3 rather than C2, despite being intended for occupiers needing a minimum of two hours of care per week. This is subtly distinguished on its facts from a case in Devon last year, and highlights the need for national planning policy to classify care-homes as either a flexible C3-C2 use, or within a use class of its own.
There is much for funds to be positive about in the latest draft of the rules taxing non-residents on gains from UK land. In particular, the transparency and exemption elections are included in roughly the form expected, and HMRC has clearly listened carefully to concerns raised by the industry.
The European Medicines Agency (the EMA) is set to relocate to Amsterdam after Brexit and want to exit their London-based lease on the basis of the principle of legal 'frustration'. Its landlords, Canary Wharf Group, argue that they should still be liable for their leasehold obligations for the rest of the 25 year term, ending in 2039.
Travers Smith LLP has advised Beazley Management Limited on the pre-let of its proposed new office space on levels 12 and 13 of Twentytwo Bishopsgate.
Travers Smith LLP has announced today the recruitment of Ryan Fordham as the Head of Construction and Engineering, which is part of the firm's Real Estate Department. Ryan joins Travers Smith from CMS Cameron McKenna Nabarro Olswang, and brings to the role a wealth of experience across the core real estate asset classes.
Travers Smith has advised its long-standing client Micro Focus International plc (Micro Focus), the global enterprise software company, on the proposed US $2.535 billion sale of its SUSE business to a special purpose vehicle advised by EQT Partners.
Travers Smith LLP has announced today the recruitment of Alex Millar as a partner in its Real Estate practice. Alex joins the firm from Jones Day, where he was a partner for eight years.
Andrew Ross and Sarah Quy examine the background to rights to light and how a development can proceed where such rights exist.
The UK’s real estate market attracts significant levels of investment from across the world, and many global corporate occupiers. It is not unusual for one or more of the landlord, tenant or guarantor in a commercial letting to be an entity based outside England and Wales.
Travers Smith LLP has advised CALA Homes and certain of its selling shareholders in connection with the acquisition by Legal & General of the 52.1% interest in CALA Homes that it did not previously own, resulting in Legal & General now taking full ownership of CALA Homes.
A change in the way we work, ever-improving technology and a shift in workplace culture are just some of the key drivers in changing the way we do business faster than ever before.
Pre-commencement conditions are powerful things: unless they are satisfied, then any works done to implement a planning consent will not count, and the consent will not have been properly implemented. If this occurs near to the expiry date, there is a risk that the consent will expire without having been implemented, and any works done on site deemed to be unlawful.
On 10 January 2018, the Government published its plan to improve the environment over a 25 year period. It discusses a wide range of ideas, including planting one million urban trees, regulating farms and fisheries after the UK leaves the EU, and establishing a new national forest.