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Concern has been expressed from several quarters about a perceived lack of transparency, at the point of sale, about the fees and other financial arrangements contained in leases of housing in two segments of our current new-build residential market; specialist retirement accommodation and leasehold houses.
Travers Smith LLP has acted for Impact Healthcare REIT plc (Impact Healthcare) on the acquisition of 56 residential care homes and their letting to the Minster Group and the Croftwood Group. This comprised of 2,479 beds and is the first acquisition for Impact Healthcare following its IPO in March 2017.
Parties have settled the EMI guarantor assignment case. The controversial High Court decision still stands - a tenant cannot assign its lease to its guarantor.
The Department for Business, Energy and Industrial Strategy (DBEIS) published guidance for landlords of non-domestic private rented property on the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (the Regulations) on 23 February 2017 (the Guidance).
Travers Smith LLP has advised longstanding client Clearbell Capital LLP on its acquisition of Belgrade Plaza in Coventry for £16m. This is the second mixed-use scheme in Coventry to be purchased by Clearbell on behalf of a fund it manages in two years following their acquisition of Earlsdon Park in 2015, which Travers Smith also advised on.
Travers Smith advises Clearbell on its student accommodation scheme at the Riverwalk Durham.
Travers Smith LLP has advised the UK arm of Qatari investment firm BTC on its purchase of the former Bow Street Magistrates' Court and Police Station site in Covent Garden with planning consent for a 100-bedroom luxury boutique hotel.
Travers Smith LLP has advised its long standing AIM-listed client Breedon Group PLC ("Breedon"), on the £336 million acquisition of Hope Construction Materials Limited ("Hope") from Cortolina Investments, which completed on 1 August 2016 following competition clearance by the CMA.
Following the UK's referendum vote in favour of leaving the EU and the appointment of Theresa May as prime minister, this briefing considers the key legal implications for the commercial real estate sector.
In Autumn 2015, the Government carried out a consultation into business energy efficiency taxes. As a result, it announced in March 2016 that it will abolish the CRC from the end of the 2018-19 compliance year and increase the main rate of climate change levy from 1 April 2019.
Travers Smith LLP has advised existing client, DP World (owner of The Peninsular and Oriental Steam Navigation Company) on the extension of a licence agreement for DP World Southampton with Associated British Ports (“ABP”). The licence agreement for the 86 hectare terminal will last 31 years until 2047.
Travers Smith LLP has acted on the acquisition of British insurer Amlin plc by Japanese insurance company Mitsui Sumitomo Insurance Company (MSI). MSI has agreed to acquire Amlin for 670 pence per share in cash, which values the transaction at approximately £3.5 billion.