Tughans Real Estate

Real Estate

solicitors since 1896 1

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Contents

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Real Estate Investment

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Real Estate Development

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Corporate Occupiers

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Commercial Lettings & Portfolio Management

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Insolvency & Restructuring

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Real Estate Finance Real Estate & Construction Disputes

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Our Clients

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Planning & Environment

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Retail

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Hotels & Leisure

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Renewables & Energy

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Construction & Projects

Real Estate Department

We provide specialist, commercially focused legal advice on all real estate areas and issues including investment, development, landlord and tenant, property management, planning, litigation, finance, construction, environmental and corporate.

As the largest dedicated commercial real estate team in Northern Ireland we have the resources to deal with significant projects, as well as the ongoing management of sizeable portfolios.

We provide pragmatic, tailored advice and are qualified to practise across multiple jurisdictions including Northern Ireland, England, Wales and the Republic of Ireland.

We are consistently ranked Band 1 in Chambers UK and Tier 1 in Legal 500, with our partners highlighted as notable practitioners and leading individuals.

Our progressive approach has a depth and dimension that goes beyond simply giving the right advice. What we offer is a more considered point of view, encompassing every factor that could influence our clients’ success.

There is a determination to get the job done. The service provided is exceptional.

- Chambers UK

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Real Estate Investment

They are very good communicators, and are equipped to deal with lots of different specialisms.

- Chambers UK

British Land: acquisition of retail investment. Value £23m+.

Our team advises on all aspects of real estate acquisition and investment and has an unequalled local resource, allowing us to handle large-scale projects without compromising effectiveness on smaller, property specific transactions. This translates into a service that many of our real estate clients view as a natural extension of their management team.

Our team has been involved in the majority of all major real estate investment transactions in Northern Ireland over recent years.

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London Metric: acquisition and management of Damolly Retail Park.

Brockton Capital/Pradera: acquisition and management of Springhill Retail Park.

Royal Bank of Scotland: management and disposal of Bloomfield Shopping Centre. Value £54m.

Cordea Savills: acquisition of retail investment. Value £12m.

BAE Systems Pension Fund: acquisition and management of retail park.

Diageo Pension Fund: acquisition, management and disposal of Erneside Shopping Centre. Value £34m.

Capital London: acquisition of Grade A Belfast offices.

Picton Capital: acquisition and management of NI office and business park.

OBROC: acquisition, management and disposal of retail lead investment portfolio. Value £200m+.

Mercer: acquisition of office and retail investments.

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Real Estate Development

The team is upfront on the benefits and risks. We are always well informed about the options.

- Chambers UK

Corbo: development of over 1m sq ft of retail and leisure space over the last 20 years.

Tesco: acted on all new store developments in NI since first entering the market in 1995.

Apple Inc: acted on the ÂŁ800m+ development of a data centre in Galway and European HQ in Cork.

Diageo Pension Fund: acted on the development of Erneside Shopping Centre.

We act for a number of major developers in both the commercial and residential sectors. This includes offering planning support and advising on construction contracts.

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Corwood Homes: acted for investors / developers in the acquisition of the former Caterham Formula 1 factory in Oxfordshire.

Curlew Capital: acted for investor in forward funding the development of an iconic Belfast property for student accomodation.

Kilmona: acted on a major retail, leisure and residential development within their portfolio.

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Corporate Occupiers An excellent legal practice with allround expertise. A real force in the local market.

- Chambers UK

Apple Inc: advise on all real estate matters across NI & RoI. AIB Group (UK) plc: acted for AIB in its disposal of its former HQ building to Stargime and sale and leaseback of select branches.

Invest NI: acquisition of ÂŁ39m Invest NI HQ. Randox: acted on the acquisition of the 1,200 acre estate. Including 350 acre site with planning consent for the development of a ÂŁ100m championship links golf resort, a 5 star hotel complex, and 42 acre Randox Service Park.

Tesco: advising on real estate portfolio since moving to NI in 1995.

British Telecom: advise BT on its property portfolio.

Deloitte: advise in relation to NI real estate.

We advise corporates on their property portfolio needs including acquisitions and disposals, strategic head office relocations and developments, commercial landlord and tenant work.

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PwC: advise in relation to office lettings in NI, including the largest office letting in NI during 2015.

Dale Farm: advise in relation to UK & RoI industrial and office portfolio.

Marks and Spencer: advise on NI real estate issues.

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Commercial Lettings & Portfolio Management

The level of advice is always very sound.

- Chambers UK

Brockton Capital/Pradera: act on the asset management of Springhill Retail Park, Bangor.

Diageo Pension Fund: advised on the asset management of Erneside Shopping Centre.

Corbo: advise one of the largest privately owned property companies in the UK – with over 1.6m sq ft of retail space.

Kilmona: advise on asset management of retail, office and leisure portfolio across the UK – value in excess of £100m.

Salvare: advise on asset management of town centre shopping centres across the UK.

We act for institutional clients and individual property investors in the management of property portfolios, ensuring assets are managed effectively to best enhance performance and value.

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London Metric: manage NI retail parks.

Picton Capital: act on asset management of Abbey Business Park and Belfast office building.

KPMG: advise administrators in the management of complex mixed use schemes, including Lough Erne Golf Resort, Obel (Ireland’s tallest building) and Wheatsheaf Shopping Centre, Rochdale.

Invest NI: advised on real estate portfolio across NI in different sectors.

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Insolvency & Restructuring

The team is highly engaged and makes us feel that we’re important.

Members are responsive and enthusiastic.

- Chambers UK

Bank of Scotland: acted on the sale of the loan secured on the Obel Development. Value £56m.

Our insolvency and restructuring team has a strong reputation for quick, smooth resolutions. We also provide robust debt solutions to rescue client businesses. We have extensive experience in all forms of insolvency procedures used in NI.

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Anglo Irish Bank / IBRC: acted for IBRC on all NI aspects of the Quinn Group administration.

KPMG: acted in connection with the management and disposal of Clandeboye Retail Park and Lough Erne Golf Resort.

Keenan Corporate Finance: acted on the sale of a licensed premises portfolio.

Royal Bank of Scotland: acted for receivers in management and disposal of Bloomfield Shopping Centre. Value £54m.

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Real Estate Finance Tughans is one of the top commercial firms in Belfast.

- Chambers UK

Our real estate finance lawyers are specialists in the areas of complex real estate and distressed restructuring portfolios. We regularly advise lenders and borrowers on acquisition and development finance for real estate assets, and advise on the restructuring of property portfolios as part of solvent and insolvent restructurings.

The team also have experience in advising on finance packages for the renewable energy sector.

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Santander/Abbey National Treasury Services: advising on the NI element of loan facilities in relation to the funding of the Bishopsgate Long Term Property Fund Unit Trust relating to the acquisition of numerous investment properties let to B&Q. Parker Green International: advised a NI property firm on the refinancing of its portfolio of loans held by Cerberus Investment Fund.

Royal Bank of Scotland: advised a syndicate of lenders, including RBS, on the NI aspects of Infinis Energy’s £300m refinancing in relation to its portfolio of onshore wind assets.

Kilmona: advised in relation to the £100m refinance out of Cerberus and into Jefferies LoanCore.

Davidson Kempner: acted in the acquisition of Titanic Quarter loan book from Ulster Bank.

Royal Bank of Scotland: advised funder on the refinance of the Malmaison Hotel Group.

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The Company We Keep

Our Clients

Real Estate & Construction Disputes

They are excellent. Domestically they know their own market and the system, processes and courts on top of being able to assist with international elements.

- Chambers UK

Invest NI: advising in relation to a dispute arising under a development agreement relating to the construction of the Invest NI HQ building in Belfast.

GAA Ulster Council: advised in the judicial review concerning planning permission relating to the ÂŁ78m proposed redevelopment of their flagship NI stadium.

We have a dedicated real estate and construction dispute resolution team, allowing us to add real value by providing specialist legal knowledge and practical, business-focused advice.

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Marks and Spencer: acted in relation to a dispute with their landlord regarding breach of landlord covenants.

Vaughan Engineering: acted in a complex construction dispute relating to work at the Royal Victoria Hospital, Belfast.

Value ÂŁ15m.

British Telecom: advise BT in relation to issues arising out of it’s property portfolio.

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Planning & Environment We keep returning because they are very responsive and get back to your enquiries no matter how small the question may be.

- Chambers UK

Translink: lead legal advisor to Translink in respect of the redevelopment of its 20 acre Belfast city centre site.

Lagan Construction Group: advising on the development of three waste-to-energy plants.

Our planning and environment team is skilled in providing commercially astute guidance on regulatory issues, compliance standards and risk avoidance. We advise a wide range of clients, including investors and contractors from a variety of sectors including waste management, manufacturing, retail and hospitality, food production and renewable energy.

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Creagh Concrete: advised on an ongoing planning appeal in relation to a proposed wind farm. Led the successful judicial review proceedings – the first in relation to a wind farm development in NI. Randox: advising on the redevelopment of former MOD barracks at Massereene to create a 42 acre state of the art science park.

Belfast Harbour Commissioners: advising in respect of the Master Plan for the harbour estate Belfast.

GAA Ulster Council: advising in respect of planning, environmental, construction and procurement of the ÂŁ78m redevelopment of the flagship NI stadium, including defending a judicial review.

Londonderry Port and Harbour: advising on the planning and environmental aspects of the extension to the port.

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Retail They give a very good mix of commercial and technical advice.

- Chambers UK

SOME OF OUR RETAILER CLIENTS INCLUDE

In addition to retail investment and portfolio management work, we act for a significant number of national and international retailers, advising on new leases and agreements for lease in high street, shopping centre and retail park locations. We also advise on more complex development agreements in relation to new retail schemes.

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Hotels & Leisure Great feedback, good communication and good transparency on costs.

- Chambers UK

Ibis Hotel Group: acted in the development of the first Ibis hotel in NI, including liquor licensing.

Lough Erne Golf Resort: acted on the sale of Lough Erne Golf Resort, NI’s only 5 Star Resort, to a US investment group.

Fitzwilliam Hotel Group: acted for the developer of the Belfast city centre hotel in its Hotel Management Agreement and Franchise Agreement with hotel partners.

Hilton: acted in the development and licensing of their flagship Belfast hotel.

In addition to our retailer expertise, we work with a range of clients in the hospitality and leisure sector, including off-licence chains, publicans, major hotel groups, restaurants, online gaming and gambling establishments.

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Cineworld: acted in the proposed move into NI for the publicly listed cinema operator.

Deloitte: acted in the sale of the investment interest in the Premier Inn, Belfast.

Wineflair: act in the management and expansion of the real estate portfolio for the off-licence chain, including all licensing work.

James Street South Group: acted in the licensing of its new restaurant venture in the Titanic Quarter, Belfast.

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Renewables & Energy They did a great job, addressed concerns quickly, gave good counsel and were very timely. They responded to what we requested, offered insight and were very efficient.

- Chambers UK

Apple Inc: acted in the negotiations with EirGrid, the electricity transmission network operator, regarding the design and construction of a site specific electricity sub-station for a proposed new data centre in Galway.

Recognising the importance of this diverse and evolving sector, we have developed an expert team to help clients take advantage of emerging opportunities, while at all times minimising risk.

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Montupet: advising on the regulatory contractual and environmental aspects of the installation and operation of a CHP plant.

Aircore Limited: advising on the roll out and funding of its wind turbine business.

Lagan Construction Group: advising in respect of a ÂŁ160 Million joint venture project to deliver a 40MW biomass plant.

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Construction & Projects

The team presents issues in a way that is easily understood.

- Chambers UK

We are recognised as a pre-eminent legal advisor in the construction industry. Clients appoint us due to our depth of industry knowledge and continuing commitment to provide the highest quality legal and commercial advice tailored to their individual requirements.

We provide a wide range of specialist construction law services, involving both transactional and dispute resolution matters, on all types of construction and engineering projects, including PFI/PPP Projects.

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Apple Inc: advising on the procurement of its landmark state of the art data centre facility in Galway. Value ÂŁ800m+.

Ulster Council GAA: advising on the construction related contract documentation, in respect of the redevelopment of its flagship NI stadium. Value ÂŁ78m.

Lagan Construction Group: advising the joint venture contractor in respect of the 40 MW biomass plant, Teeside, England. Separately advising the preferred bidder for the role as the civil works and building facilities design and build contractor in respect of the project for an integrated waste management facility at Rivenhall, Essex (capacity 853,000 tonnes p.a.).

Farrans (Northstone): advising Farrans in a JV in respect of the new Wear bridge crossing, Sunderland, England.

Ulster Bank: advising in respect of the disposal of a major shopping centre development in Bangor, Co. Down, which involved significant redevelopment works being undertaken on a design and build basis.

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If you would like to discover how we can benefit your business, please do not hesitate to get in touch:

+44 (0) 28 9055 3300 law@tughans.com tughans.com

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