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Travers Smith LLP has advised Northleaf Capital Partners on its acquisition of a majority interest in Uber Boat by Thames Clippers, London’s leading river boat service, from AEG, the world’s leading sport and live entertainment company.
As we have previously reported, many commercial landlords and tenants have had discussions about the extent to which they can comply with their leasehold obligations during the Covid-19 pandemic. The UK Government put in place a number of protective measures for tenants over the course of the past two years.
It is certainly a busy time for those in the real estate sector with an interest in tax matters. Next month (April) sees the introduction of the residential property developer tax (RPDT), changes to the REIT rules and the introduction of the qualifying asset holding company (QAHC) regime.
On 15 March 2022, the Economic Crime (Transparency and Enforcement) Bill (the "Bill") received Royal Assent, and is now known as the Economic Crime (Transparency and Enforcement) Act 2022 (the "Act"). As explained in our recent briefing on the Bill, the Act introduces a register of beneficial ownership information for overseas entities that own or buy UK property ("the Register"), as part of the government's package of sanctions against Russia and in order to progress its longer-term strategy of combatting economic crime.
In 2016 the Government introduced a requirement for all UK companies to maintain a register of "People with Significant Control", and announced its intention to establish a register of beneficial ownership information for overseas entities that own or buy UK property ("the Register").
The Environmental Protection Act 1990 was a landmark piece of legislation for the real estate sector, establishing legal responsibility for contamination and pollution control for land, air and water, and also regulating waste disposal and statutory nuisances. Our understanding of the threat posed by contamination and climate change has increased significantly in the thirty years that followed, and the long-awaited new Environment Act was finally put onto the statute books in 2021. When it is fully operational, what might the new legislation mean for the UK's real estate industry?
In amongst the blizzard of press releases and policy documents emanating from the Department of Levelling Up, Housing and Communities since the New Year is a consultation called "Reforming the leasehold and commonhold systems in England and Wales". It is important for the commercial real estate sector because it contains new proposals which could tip the balance in mixed use buildings between residential leaseholders on one hand and freeholders and commercial leaseholders on the other hand.
Travers Smith LLP is delighted to announce the hire of new Head of Planning Jamie McKie and Head of Construction Edward Colclough.
In this briefing we look at 12 of the changes to law and practice that are likely to impact on the real estate sector in 2022.
Travers Smith LLP has advised Ancala Partners LLP on the acquisition of Ludlow Street Healthcare by Holmleigh Care Group, a care organisation in Ancala Partners LLP's portfolio.
The recent judgment of the High Court in London Trocadero (2015) LLP v Picturehouse Cinemas Limited [2021] EWHC 3103 (Ch) provides an interesting insight into judicial treatment of defective Part 36 offers, the question of when Part 36 offers will be considered genuine offers to settle, and the other factors considered by the court in determining when it would be unjust to apply the full cost consequences prescribed by CPR r. 36.17.
On Tuesday 30 November 2021, the government published a series of tax-related consultations and policy papers as part of 'tax administration and maintenance day'. Among these were a number of interesting consultations relating to real estate.
Is it reasonable for care home operators to charge new residents an administration fee on admission, separate from the costs of care or accommodation? Do fees of this sort merely compensate care home operators for the internal costs incurred in managing the personalised admission of a new resident, or are they unfair charges which take advantage of the stress and complexities of arranging residential care?
As part of the government's review of the UK's fund regime, and its wider efforts to enhance the UK's attractiveness to asset managers and investment funds, a number of changes are to be made to the UK's REIT regime with effect from 1 April 2022. Further changes to the REIT rules are likely to follow further down the line as the review progresses.
We recently ran a webinar on everything to do with freeports, featuring Stephen Carr, Commercial Director of Peel Ports, Liverpool, where one of the new freeports will be based.
We recently ran a webinar on everything to do with freeports, featuring Stephen Carr, Commercial Director of Peel Ports, Liverpool, where one of the new freeports will be based.
We recently ran a webinar on everything to do with freeports, featuring Stephen Carr, Commercial Director of Peel Ports, Liverpool, where one of the new freeports will be based.
We recently ran a webinar on everything to do with freeports, featuring Stephen Carr, Commercial Director of Peel Ports, Liverpool, where one of the new freeports will be based.
We recently ran a webinar on everything to do with freeports, featuring Stephen Carr, Commercial Director of Peel Ports, Liverpool, where one of the new freeports will be based.