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 publishes its 2020 pay gap report

Pay gap reporting highlights the value and importance of our drive to promote diversity and inclusion. This year we have opted to report on our disability pay gap for the first time as we underscore our commitment to belonging and inclusion and strengthen our network groups to encourage and champion change for all of our people.

Pinsent Masons advises Sanne Group on first specialised depositary services licence in Ireland

Multinational law firm Pinsent Masons has advised global fund administrator Sanne Group on the first specialised depositary licence to be granted by the Central Bank of Ireland, further enhancing Sanne’s capabilities in Ireland and its multi-jurisdictional proposition for alternative fund managers.

Pinsent Masons provides legal advice in breakthrough data trust report for food industry

Multinational law firm Pinsent Masons has provided the legal advice in a set of new reports recommending the latest innovation in the burgeoning technology of data trusts.

People who viewed this press release also viewed

Show me all press releases

Pinsent Masons advises on new £15m social investment 'Resonance Everyone In' homelessness property fund

Multinational law firm Pinsent Masons has advised on a new £15m homelessness social investment property fund to help meet increasing demand to house rough sleepers in London.

Pinsent Masons advises on Four Seasons Care Homes portfolio migration

Multinational law firm Pinsent Masons has advised propco investor LDC Care Homes and its asset and investment manager Elevation Advisors on the migration of a care homes portfolio from Four Seasons Health Care Group (FSHC) to new operators.

Pinsent Masons appointed to UK Government Trade Law Panel

Multinational law firm Pinsent Masons has been appointed to the UK Government's new Trade Law Panel in an international consortium with BakerHostetler in the USA, and Fasken in Canada, to advise on international trade law disputes.

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