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Commercial Property Pocket Guide
Harold BenjaminLEGAL MINDS business thinking
• Our core business is property but our clients also rely on us for business and private law advice.
• Our clients tell us that they instruct us because we offer great service and value, delivering commercially focused advice, in an approachable way.
• Founded in the 1950’s, we began our practice in the City of London, opening later in North-West London. We have since forged a significant presence in London’s West End, opening our office in W1 in 2015. In the past 10 years, we have more than doubled in size from 40 to over 80 people. The focus of 12 of our 17 partners is property law.
• Our Secured Lending, Investment & Auctions and Commercial Property teams are actively working with banks, borrowers, lenders and high net worth individuals, securing finance for residential and commercial developments including hotels and healthcare. In 2017 alone, we were delighted to have participated in at least 9 hotel and leisure deals; a significant achievement for any legal adviser.
• From a retail and leisure perspective we work with large multi-nationals across their acquisition, disposal and leasing programmes. We also support a number of well-known high street brands and luxury maisons with their property and franchising requirements. Our clients include Alexander McQueen, Balenciaga, Boucheron, Bread Group, Christopher Kane, Countrywide Group, Gail’s Bakery, Hamptons International, Headmasters, Roksanda Illinic and Vivienne Westwood amongst many other recognisable names.
W H O W E A R E
Andrew Farnell Solicitor & Partner Commercial Landlord & Tenant 020 8872 3005 [email protected]
O U R T E A M
Vijay Parikh Solicitor & Partner Investments & Auctions, Hotels & Leisure
020 8872 3033 [email protected]
Varsha Sood Solicitor & Partner Investments & Auctions, Hotels & Leisure
020 8872 3028 [email protected]
Sarah Paul Solicitor & Partner Commercial Landlord & Tenant
020 8872 3034 [email protected]
Robert Souber Solicitor & Partner Retail & Leisure
020 3096 0826 [email protected]
Ray Oshry Solicitor & Partner Secured Lending 020 8872 3037 [email protected]
Our Landlord & Tenant team uses its extensive knowledge to devise strategic options and opportunities; enabling our clients to achieve their commercial objectives. Demonstrating a clear and practical understanding of the most complex practice areas
(including pre-lets and conditional lease agreements), we work closely with our clients – some even consider us to be their ‘out-sourced’, ‘in-house’ legal team – a compliment we value.
Our experienced team will highlight factors of concern or factors capable of adding value to your investment and will guide you through the whole auction process making it as effortless and stress free for you as possible. We are used to working
to the tight timeframes associated with auction transactions. We can also assist if you are looking to sell your property at auction. We realise the importance of a properly prepared legal pack and of dealing promptly and efficiently with pre auction enquiries from interested parties in helping achieve a successful sale.
AUCTION S
COM M E RCIAL LAN DLORD & TE NANT
H O W W E C A N H E L P
COM M E RCIAL PROPE RTY I NVE STM E NT
Our team has a wealth of experience in acquisitions and disposals by private treaty, auction, portfolio acquisitions and disposals, sub-sales and forward commitment investment. We act for a range of investment clients - high
net worth individuals, private and publicly quoted property companies, property funds, commercial managing agents and fund managers - based in the UK and overseas (including the Middle East, Africa and India). The team has established connections with offshore providers. We offer expert advice and assistance with the structuring of acquisitions through off-shore vehicles. The team is also able to assist with inward and outward investment from and into the Indian sub-continent and East Africa.
Alongside our extensive property experience, we have focused expertise in the retail and leisure sectors for iconic high street names, high end fashion and luxury maisons. Our clients are corporate and private individuals, global luxury maisons, multiplex
and art-house cinema operators, one of the UK’s premier estate and letting agents, several multi-outlet retailers and well-known names from the property sector. Our clients are at the forefront of innovative retailing. We work closely alongside the brands, their in-house teams and their external advisors. Often our instructions are complex, market sensitive or time critical. Our experience of handling instructions of this nature ensures that our clients receive a bespoke service at every stage from single units to multiple outlet portfolios.
RETAI L & LE I SU RE
H O W W E C A N H E L P
SECU RE D LE N DI NG
The Secured Lending team provide a full and efficient service for commercial lenders and borrowers including banks, building societies and a range of private lending institutions, and work closely with lenders and borrowers across a wide
range of sectors preparing, negotiating and agreeing loan documentation for a broad spectrum of property transactions including secured loans, re-financing and structured project financing. They are experienced in dealing with secured commercial lending against a range of securities including public houses, restaurants, B&Bs, shops, offices, commercial and residential developments and collateral security including debentures and personal guarantees.
• Acting on the acquisition and disposal of numerous flagship Bond Street, Sloane Street and Mount Street stores for luxury maisons.
• Acting on the property aspects of a £300m corporate share sale for a wholesale and retail food business.
• Acting for a purveyor of luxury tea, a new entrant to the UK market, on the acquisition of their Central London stores including their 7,000 square foot Leicester Square flagship.
• Shopping Centre acquisitions and disposals.
• The Commercial Landlord & Tenant team undertakes hundreds of lease renewals every year.
• Acting for the purchaser and developer ELRS on the purchase of a large site for a mixed use development scheme in Central London. The site being 5,365 sq. m commercial use and 120 residential units together with public use including site acquisition, consolidation and then planning and ultimate sale of the site. The entire site was then sold to a major property developer.
• Development of a large scale site of 177 luxury apartments and a gym. The property was originally acquired in 2012. This was a very complex transaction which required several years of planning up to 2014. The site was then built and sold on to a USA investor. The entire project was funded by a series of complex loans and included a mezzanine facility, options and secured lending.
H I G H L I G H T S
• The purchase of a site for residential development for circa 100 upmarket residential units. Exchange and completion concluded within 5 days including bank funding.
• Acquisition of a Bracknell site by a major developer, requiring a buyout from existing market stallholders and the local council. The site was developed into 311 residential properties. The site required equity funding and a series of complicated finance and subordinated loans. The site continues to be built.
• West London – acquired site for £7.2m for mixed residential /commercial development for 111 flats and commercial space.
• Our Secured Lending team were instructed on close to 100 refinance deals in 2017. Acting for both borrowers and lenders and from time-to-time both parties. Finance and loans vary from deals from £1 - £5m. Acquisition of the share capital of a midlands based hotel. A rapid deal concluding in 8 weeks.
• Acting for a privately owned hotel investment group in obtaining a development finance for a development site in Manchester for a flagship hotel franchise.
‘‘“The firm acted with diligence, caution and steadfastness that, at
times, I felt went beyond thecall of duty. Great service. I’ll be back
for more”
“The Commercial Property department continues to fly the flag for this Harrow-based firm”
“I would like to place on record my appreciation for all the work you have done - it has been
professional, pragmatic, authoritative and helpful”‘‘W H AT T H E Y S AY
“Harold Benjamin paid meticulous attention to detail with an excellent practical
commercial approach and an appreciation of our very specific business requirements”
W H O W E W O R K W I T H
• 259 City Road Ltd
• Alexander McQueen
• Allied Irish Bank
• Banner Homes Ltd
• Balenciaga
• Bellwood Homes Group
• Boucheron
• Bouygues (UK) Ltd
• Bread Factory
• Byrne Group Residential Ltd
• Cavanna Homes (South West) Limited
• Christopher Kane
• Comer Homes Group of Companies
• Countrywide Group
• Davis Estates (Southern) Ltd
• Fonehouse
• Gail’s Bakeries
• Groveworld Group of Companies
• Hamptons
• Harcourt Developments Ltd
• Headmasters
• Jaysam Contractors Ltd
• JS Bloor Homes Ltd
• Kier Living Ltd
• Ladbrokes Coral Group
• Mackenzie Homes
• Matthew Homes Limited
• Martin Grant Group of Companies• Metro Bank
• NatWest/Royal Bank of Scotland Plc
• Orion City Road Trustee Limited
• Picturehouse Cinemas Ltd
• Pomellato
• Roksanda Illinic
• Sherrygreen Homes Ltd
• Taylor Wimpey UK Ltd
• Tesco Stores Ltd (Residential Estate Development)
• The Flour Station
• Turner Properties Ltd/ATA Estates Ltd
• Vivienne Westwood
• Wallis Road Developments Ltd
• Westcombe
• YaccoMaricard
www.haroldbenjamin.com
February 2018 edition
H A R R O WHill House 67-71 Lowlands Road Harrow HA1 3EQ
Tel +44 (0)20 8422 5678Fax +44 (0)20 8864 7530
W E S T E N D48 Queen Anne Street
London W1G 9JJ
Tel +44 (0)20 7224 0888Fax +44 (0)20 7486 4220
