corporate real estate the best legal structures for your business
Did you know? • Revised projections by the Department of Communities and Local Government show five million new homes may be needed in England over the next 25 years in order to deal with changes resulting from the ageing population, immigration and the rise in the number of single households • A 2016 Toscafund report, commissioned by the British Property Federation, has revealed that commercial real estate represents just over a fifth of total net wealth in the UK – worth £1,662bn • In the light of Brexit, the significant currency advantages enjoyed by overseas investors continue to draw interest from across the globe into the UK real estate sector • Promising growth opportunities await for savvy hotel investors despite prevailing economic uncertainty in a world post-Brexit.
“ We focus on providing the full range of corporate and tax advice to real estate clients ranging from developers and funders to investors. We pride ourselves on accompanying our clients from the very first stages of establishing a venture through to operational matters as well as funding, structuring and the delivery of specific schemes and successful exits.� Anthony Hunt, Partner, Howard Kennedy
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Building your business from the ground-up Real estate usually implies physical structures, such as commercial, retail, residential and hotel developments. It is well known that such assets need to be developed and managed appropriately. Just as important, however, are the corporate and legal structures behind the real estate business function itself. Corporate structures need to be created and evolved efficiently in order to expand any physical asset portfolio. We provide practical advice for companies, individuals, investors and banks. Our experience means that we can help you secure the long-term growth and success of your real estate interests.
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Our service Our specialist corporate real estate team has worked with individuals, corporates and institutions on all their corporate real estate needs across commercial, residential and leisure business streams. We advise on the full spectrum of commercial functions, from establishing businesses and joint ventures to M&A, contractual agreements, investments, finance and tax.
Our client base includes many leading real estate developers and investors, both UK and international, including in the Middle East, India and Asia. Clients include well known brands from the hotel, restaurant and leisure industries.
“We tend to go to them for specialist advice on unique real estate structures.� Chambers UK 2016
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Market insight “ London continues to attract new investment, both domestic and from abroad. We work with developers, funds, banks and high net worth investors, especially from overseas, on many signature developments, including in Greenwich, Vauxhall, Knightsbridge, Earls Court, Victoria, Chelsea and the West End. Our key expertise in the hotel and restaurant sectors has also allowed us to develop an invaluable insight into the drivers for the consistent growth in the sectors.” Paul Glassberg, Partner, Howard Kennedy
Recent work advising •
he Galliard Group on its joint venture to T secure development funding from Cain Hoy Enterprises and a minority investment from Guggenheim Capital
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The acquisition and funding for a new Alan Yau concept restaurant, Park Chinois, in Mayfair
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A Middle Eastern ultra high net worth family on the hotel and commercial redevelopment of Tobacco Dock
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A Cain Hoy/Galliard joint venture company on the purchase of a Mayfair landmark for £85m
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Various hotel transactions involving acquisitions, disposals, operation, management, asset management and franchising with major hotel brands such as IHG (Holiday Inn), Accor, Park Inns, Starwood and Hilton First Base on its joint venture for a Brighton based development
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Developers on the restructuring of a joint venture interest for a well known development on the Isle of Dogs and on residential elements of the Royal Albert Dock development
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The innovative real estate crowd funding platform Crowd with Us on its launch in 2016, including the legal structure of the website, the legal agreements that investors enter into, the model articles for the SPVs and its regulatory relationship with its hosting firm
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The Euston Regeneration Partnership Limited on allowing the admission of an additional development company, Argent, into the joint venture seeking to develop the land around Euston Station
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Ballymore Properties Limited on its Opco/ Propco Management Buyout.
Key clients
Key contacts
Hotels • Fairview Hotels and Healthcare Limited • Interval Leisure Group • Marriott Vacation Club (MVCI Europe Limited) • Michels & Taylor Limited • YOO Group. Restaurants • Alan Yau (Park Chinois, Babaji, Duck & Rice) • Aqua Restaurant Group • Busaba Eathai • Carluccio’s Limited • Comptoir Group • Patty & Bun • Yum! (Pizza Hut & KFC) • Vapiano. Retail • Antler • Blue Inc • Cartier • Elie Saab • Graff Diamonds • GUESS UK
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Montblanc Mothercare Pandora Ryman The Kooples.
Developers • Ballymore Properties Limited • City & Docklands • First Base Limited • Frogmore • Galliard Homes. Private Investors • The owners of Tobacco Dock • Various European and Middle Eastern ultra high net worth investors, including from Israel and Lebanon • Private wealth banks and other offices.
Anthony Hunt Partner T: +44 (0)20 3755 5521 E: anthony.hunt@howardkennedy.com
Paul Glassberg Partner T: +44 (0)20 3755 5470 E: paul.glassberg@howardkennedy.com
Eric Gummers Partner T: +44 (0) 20 3755 5480 E: eric.gummers@howardkennedy.com
“They have a good understanding of our challenges and our commercial face and act to ensure that we understand some of the potential risks which may flow from commercial legal agreements.” Chambers UK 2015
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No.1 London Bridge London SE1 9BG DX 144370 Southwark 4 Tel: +44 (0)20 3755 6000 Fax: +44 (0)20 3650 7000 www.howardkennedy.com