Real estate finance

Press Release

Browne Jacobson’s banking & finance team describe 2022 as a “game of two halves” after completing over £2 billion worth of transactions

Legal Update

Sustainable finance - great opportunity but there are risks for businesses that do not engage

Legal Update

Hillside – the end of drop in applications?

On 2 November 2022, the Supreme Court handed down its judgment in the much awaiting case of Hillside Parks Ltd v Snowdonia National Park Authority [2022] UKSC 30. The Court’s judgment suggests that the long established practice of using drop-in applications is in fact much more restricted than previously thought. This judgment therefore has significant implications for both the developers and local planning authorities.

Press Release

Browne Jacobson’s retail lawyers advise Wilko on its strategic £48m sale and leaseback of Nottinghamshire distribution centre to DHL

National law firm Browne Jacobson has advised long standing retail client, Wilko on the sale and leaseback of its Nottinghamshire distribution centre in Worksop to logistics specialist DHL for £48m.

Press Release

Former Mace Group Legal Director joins Browne Jacobson as Non-Executive Director of its Construction & Real Estate sector

Browne Jacobson has appointed Amy Chapman, the former Group Legal Director of global built environment experts Mace Group, as its first Non-Executive Director (NED) of its Construction & Real Estate sector strategy board.

Press Release

Browne Jacobson advises Bromley Council on the first social housing initiative of its kind to tackle homelessness

Across the UK, homelessness is an urgent crisis, and one that is set to grow amid the rising cost of living. Local authorities are at the forefront of responding to this crisis, but with a lack of properties that are suitable for social housing across the UK, vulnerable individuals and families are often housed in temporary accommodation.

Legal Update

Trigger happy when directors’ duties are the target?

In a judgment handed down yesterday the Supreme Court has affirmed that a so called “creditor duty” exists for directors such that in some circumstances company directors are required to act in accordance with, or to consider the interests of creditors. Those circumstances potentially arise when a company is insolvent or where there is a “probability” of an insolvency. We explore below the “trigger” for such a test to apply and its implications.

Opinion

Rent arrears post-Covid: What are the landlord’s options?

Since the beginning of the pandemic, landlords and tenants have experienced significant limitations in the way rent arrears could be pursued. We first saw the moratorium on the recovery of Covid related arrears, and more recently we’ve experienced the implementation of the Covid arrears arbitration scheme.

Opinion

Sequana: Supreme clarification on the duty owed to creditors

The Supreme Court has unanimously dismissed the BTI v Sequana appeal and reviewed the existence, content and engagement of the so-called ‘creditor duty’; being the point at which the interest of creditors is said to intrude upon the decision-making of directors of companies in financial distress.

Legal Update

Regeneration funding: Securing Compulsory Purchase Orders in the face of escalating building costs

The focus on the Levelling Up agenda and the availability of grant funding, means there are numerous important regeneration schemes actively being pursued across the country. With ever-escalating project and building costs, in many cases, applications that were made for grant funding were based on costs contingencies that have already been exceeded.

Legal Update

Banking Transaction Update July 2022 - North West transactions

There are clearly challenging macro-economic factors at play but at Browne Jacobson we continue to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.

Legal Update

Banking Transaction Update July 2022 – National transactions

Browne Jacobson continues to see good levels of transactional activity with certain sectors being particularly buoyant: healthcare, financial services, energy & infrastructure and tech.

Published Article

RAAC planks and its impact on local authorities

Recent reports of flat roofs constructed using RAAC planks collapsing without warning prompted the SCOSS alert.

Legal Update

Conservation Covenants – what are they and how will they affect you?

Conservation Covenants come into force on 30 September 2022. We look at the impact on landowners, developers and responsible bodies.

Published Article

The Building Safety Act 2022: Navigating building liability orders

The Building Safety Act 2022 received Royal Assent on 28 April 2022 (“Act”). The government has described the reforms introduced by the Act as “the biggest changes to building safety regulation in a generation”. For once the hype is justified.

Published Article

Sustainability in construction

The climate emergency has reached a point where real and substantial damage is being caused to both the planet and society. There has been a shift from planning and theorising the most effective solutions, to a phase where practical, efficient, and sustainable solutions are required at speed.

Opinion

Responding to Grenfell – Slow progress is better than none

As the Grenfell Inquiry continues, how have the Phase 1 recommendations changed the fire safety and building safety landscape?

Legal Update

Balancing homelessness duties and housing stock: all change?

On 4 May 2022, the Court of Appeal handed down judgment in the joint case of R (Elkundi and others) -v- Birmingham City Council and R (Imam) -v- London Borough of Croydon [2022] EWCA Civ 601.

Legal Update

Is this the end of Section 106?

The Levelling-up and Regeneration Bill was introduced to Parliament on 11 May 2022. In this Bill, and in accordance with earlier reports, the government intends to replace section 106 agreements and the existing Community Infrastructure Levy (CIL) with a new Infrastructure Levy.

Press Release

Browne Jacobson’s banking specialists advise HSBC UK Bank plc on management buy-out of UK’s largest family owned bicycle distributor

Browne Jacobson’s banking & finance lawyers have advised HSBC UK Bank plc on the financed management buy-out of Derby-based bicycle supplier and distributor, Moore Large for an undisclosed sum.

Opinion

Update: building safety repairs pledge signed by over 35 major housing developers

On 14 February 2022, Secretary of State of the Department for Levelling Up, Housing and Communities, Michael Gove, announced proposals designed to pressure building developers and materials manufacturers to fund the remediation of unsafe properties.

Legal Update

Modernising the planning system

Improvement to the planning system has arrived in the form of new digital tools which will make it easier for the general public to have their say on shaping and regenerating their communities.

Opinion

Building Safety Bill amendments

In March the government proposed a number of changes to the Building Safety Bill. The new amendments propose additional protection for leaseholders to prevent them from being charged for cladding work if they own up to three properties.

Legal Update

SPS Groundworks & Building Ltd v Mahil [2022] EWHC 371 (QB)

A seller failed on an auction sale to comply with its common law duty to disclose an overage obligation affecting the property.

Legal Update

W (No.3) GP (Nominee A ) Ltd and another v J D Sports Fashion Plc (Nottingham County Court, 22 October 2021)

The County Court refuses the landlord’s request to include a turnover rent in a statutory lease renewal.

Legal Update

Brooke Homes (Bicester) Ltd v Portfolio Property Partners Ltd & Others [2021] EWHC 3015 (Ch)

The court provides some useful guidance on the different types of endeavours obligations and good faith clauses.

Legal Update

Ventgrove Ltd v Kuehne Nagel Ltd 2021 CSOH 129

A tenant in Scotland had validly exercised a break option even though it failed to pay VAT on the break premium.

Legal Update

Real estate quarterly update – January to March 2022

Read more about our latest real estate update aimed at in-house lawyers practising in the property and real estate sector.

Press Release

Browne Jacobson broadens its construction offering with appointment of nuclear and renewable energy specialist

Browne Jacobson has broadened its national construction and engineering offering with the appointment of construction partner Zoe Stollard into its Birmingham office.

Legal Update

Banking Transaction Update February 2022 - North West transactions

Browne Jacobson’s banking & finance team continues to go from strength to strength. Its volumes are currently 25% ahead of last year’s & over the last 12 months the team advised on over 300 transactions across various sectors.