Commercial property deal highlights

Level Acre Developments Limited 

Acting for Level Acre Developments Limited in relation to the purchase of a new mixed-use development site in East London. We secured loan finance and a second charge on another development site nearing completion, whilst simultaneously dealing with the refinancing of a third development site as part of this complex transaction.

With multiple sites held in SPVs, multiple lenders and solicitors to liaise with and complex title issues to resolve via the securing of an indemnity policy at the seller’s cost, we successfully managed the transactions ensuring that there was no delay to the progress of the sales. The client achieved the cash flow needed to acquire the new site, proceed with the sale of properties at the second site and commence development of the third site following the grant of planning permission.

We are now in the process of dealing with the commercial letting of the ground floor premises and the off-plan sales of the residential flats above. 

Advising NFU member 

Acting for a client who specialises in new ways of using renewable energy from sewage treatment works to heat giant glasshouses for growing fruit and vegetables. We were selected to represent our client from a range of NFU panel-approved law firms as having the expertise required to partner in this project, which required a multi-disciplinary approach across a number of legal specialisms including land, landlord and tenant, commercial contract, taxation, and planning.

The project attracted the interest of BBC Look East, who produced a feature showcasing the scheme.

£5m refinancing of a completed development site

Acting for our client in the £5m refinancing of a completed development site, originally developed under a joint venture partnership using Sharia compliant financing. We were also required to negotiate and complete a new facility agreement with the joint venture partner, along with a deed of variation of the joint venture agreement and debenture.

We acted swiftly to negotiate last-minute amendments to documentation to protect our client’s interest, liaising with our Company & Commercial team to ensure a seamless service across all aspects of the transaction.

Leasing of a disused church to redevelop into a school

Acted for a major regional client in the education sector on the leasing of a disused church to redevelop into a school. The transaction involved the simultaneous purchase of the property by the landlord whilst securing the lease agreement on behalf of our client, the purchase being dependent upon the form of the lease being agreed. The transaction went through within the deadline and our client was able to start on the redevelopment works on time. 

Acting for a leading global logistics service provider

We regularly act for, a leading global logistics service provider, on a range of sales, acquisitions and leases. 

Acting for our client in the sale of one of their UK commercial premises, we secured commitment from the buyer through a non-refundable deposit in consideration for an exclusivity period.  Within six weeks from receipt of the heads of terms we were able to draft, negotiate and exchange the exclusivity agreement, pull together the title documentation, draft the contract and transfer and deal with all enquiries.  As the property was charged, we liaised with the solicitor acting for the bank to obtain a redemption figure and agree the necessary discharge documentation, all of which were dealt with within the timeframe.

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