Pinsent Masons advises Redefine International on conversion to UK-REIT status

06 Nov 2013 | 10:42 am | 1 min. read

International law firm Pinsent Masons has advised Redefine International P.L.C. on its proposed conversion to UK real estate investment trust (UK-REIT) status, including the internalisation of the existing management adviser and changes to the board to reflect the new structure.

Redefine International announced its intention to convert to UK-REIT status as part of its full results in October 2013, and has now set out proposals to this effect for shareholders’ consideration. The Board’s current intention is for Redefine to elect for UK-REIT status with effect from 3rd December 2013.

As part of the conversion, Redefine will internalise its management – by way of the acquisition of Redefine International Fund Managers Ltd – and become UK tax resident. After the 3rd December 2013, the Group will no longer pay UK direct tax on the profits and gains from their qualifying property rental businesses in the UK and elsewhere, providing certain conditions are met.

Michael Watters, of Redefine International Group, said: “Pinsent Masons’ advice, not just during this process but throughout our busy last 12 months, has been invaluable and has contributed greatly to our achieving this important milestone.

“Alongside its work on various asset acquisitions this year, including our 189 million euro German shopping centre portfolio, and £145 million capital raisings in the last 12 months, Pinsent Masons has shown itself to offer truly market-leading legal advice that has been of great benefit and value add to the Redefine International Group."

Howard Gill, Partner at Pinsent Masons who led the deal, comments: “Recently-enacted legislation, in particular the removal of the two percent gross asset conversion charge, makes this an excellent time for listed property funds such as Redefine International to make the move to the transparent and tax-efficient UK-REIT regime.

“Redefine International’s move to become a UK-REIT underlines the advantages that the tax-advantageous regime can bring and highlights the possibilities for further companies in the sector to change status. This deal follows shortly after our advising of Redefine on its dual listing in Johannesburg, which completed in late October.”

Howard Gill led the Pinsent Masons team that worked on the conversion, alongside senior associate Sarah Flinn and solicitors Emily Mort and Jade Ginger.

Latest press releases

Show me all press releases

Pinsent Masons helps secure planning consent for new landmark Holocaust Memorial

Multinational law firm Pinsent Masons has advised the Ministry of Housing, Communities and Local Government as applicant in securing planning permission for a new national Holocaust Memorial and Learning Centre to be located in central London.

Pinsent Masons launches online tool to spot future home-working related litigation for financial services firms

Multinational law firm Pinsent Masons has launched a new working-from home audit tool to help financial services organisations understand the hidden litigation and regulatory risks associated with staff increasingly working from home on a more permanent basis.

Pinsent Masons advises Seraphine Group PLC on its £150m main market IPO

Multinational law firm Pinsent Masons is advising Seraphine Group plc, an international digitally-led maternity and nursing wear, on its IPO and premium listing on the main market of the London Stock Exchange.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons helps secure planning consent for new landmark Holocaust Memorial

Multinational law firm Pinsent Masons has advised the Ministry of Housing, Communities and Local Government as applicant in securing planning permission for a new national Holocaust Memorial and Learning Centre to be located in central London.

Pinsent Masons unveils FY21 year end results

Multinational law firm Pinsent Masons has announced its FY21 year end results, reporting against last year’s metrics as the firm advances its strategy to become a purpose-led, professional services business with law at the core.

Pinsent Masons hires Sydney-based property and infrastructure partner

Multinational law firm Pinsent Masons has recruited property and infrastructure partner Deanne Ogilvie in its Sydney office.

For all media enquiries, including arranging an interview with one of our spokespeople, please contact the press office on

+44 (0)20 7418 8199 or 

Location contacts