Real Estate Structures
Market leading team in creating, developing and delivering solutions structured to meet your needs.
Our cohesive, long established team has a market leading reputation in innovation to deliver asset-based solutions through the use of corporate vehicles. We have closed more LABV schemes than any other law firm across the country. We regularly advise central government on the legal and wider implications of policy initiatives in this area. We also act in a consultancy role, working with clients to develop new ways of delivering projects in scenarios where cash is scarce and assets must be used in order to produce results.
Our expertise includes innovative funding structures and models for both the public and private sectors, and between the two. Because of our integrated approach, we have a deep and broad understanding across our team of the issues facing clients in the current funding and property market.
Expertise and knowledge second to none, to support your needs.
- Our team members were responsible for developing the original LABV structure and we have further developed the model with the market over the last four years
- Experience advising on all of the leading edge joint venture projects and almost every other joint venture project currently in the market
- The "go to" adviser to Government: we have advised HM Treasury, DCLG and others in relation to making and implementing policy on public/private joint ventures
- Over 30 years' experience advising on every model for non-PFI property or regeneration based public/private joint ventures (as well as many PFI projects)
- Extensive knowledge of the market approach, gained both by advising many private sector organisations on housing-led regeneration, and by sitting "across the table" from them throughout the procurement process
- A real understanding of issues affecting local government (we advised over 100 local authorities last year alone and are members of the HCA legal panel)
Our recent experience includes:-
- Sunderland LABV – a complex Local Asset Backed Vehicle involving the Council’s development and investment portfolios, to be brought forward for commercial and residential use with a consortium of private sector partners.
- Gateshead Council – establishment of a public/private joint venture vehicle to deliver new housing across 19 sites throughout the borough, over a 20 year period, with an estimated total end value of £456m.
- Bournemouth City Council – advised in relation to their 15 year joint venture with private sector partner, Morgan Sindall Investments to deliver the Council’s town centre vision – a major £500m regeneration project involving up to 16 sites.
- Kier Property – advising in relation to the Watford Regeneration LABV. A 15 year partnership between Watford Council and West Hertfordshire NHS trust to develop a 26.5 hectares mixed use scheme.
- Westminster City Council – advising the Council on the range of delivery options available for key strategic housing sites and estates across the borough, examining all available options and running the procurement exercise to create its framework panel of development partners.
Our Government advisory role includes the following:-
- We advised DCLG on the delivery of the Housing Green Paper delivery models including drafting the proposed guidance on the Local Housing Company and Local Asset Backed Vehicle Models
- We advised PUK and HM Treasury in updating the HM Treasury PUK guidance on public sector joint ventures;
- We have produced a wealth of other guidance for DCLG including Housing PFI Guidance and on strategic partnerships whilst on secondment i.e. to the ODPM's Strategic Partnership Taskforce;
- We have assisted the HCA in developing its best practice in relation to legacy and community management structures including the Millennium Community URC at New Islington and the prototype Eco-town at Northstowe.