Head of Commercial Property
The development sector was hit extremely hard by the recent economic crisis, most notably because traditional funding streams dried up and borrowing criteria became extremely onerous. Recently, we have seen a shift in attitude towards lending by the banks & other financial institutions and this sector is now showing good signs of recovery.
We act for a number of developers in both the residential and commercial sectors, advising on site acquisition, planning issues, development agreements and the sales in respect of completed developments. We also act for tenants and national retailers, taking units within the newly built developments which means we thoroughly understand the important issues from all parties’ perspectives.
In addition, we act for the banks financing the developments to ensure that their interests are safeguarded, being on their panels is fundamental and enables us to offer a comprehensive and streamlined service.
More recently, we have seen an upsurge in promotion agreements whereby developers look to enhance land value by securing residential planning of sites and share the value of the uplift with the landowner. We are able to advise both developers and landowners on the implications of these transactions.