Forsters advises on Joint Venture between Invesco Real Estate and Marchmont Investment Management
14 March 2025
News
Forsters’ Commercial Real Estate team has advised a new Joint Venture between Invesco Real Estate and Marchmont Investment Management in its first acquisition of a portfolio of industrial and logistics assets in strategic locations across the UK.
The new Space Industrial platform has been established to acquire, manage and re-position multi-let assets with a key focus on ESG-credentials, offering value-add opportunities. It has been seeded with funding provided by Marchmont and Invesco Real Estate Europe Fund III to acquire the portfolio comprising four assets in Milton Keynes, Sheffield, Manchester and Pershore.
Forsters’ role included advising the client on all commercial real estate aspects of the acquisition, including carrying out title and tenancy due diligence, negotiating all contractual documents, co-ordinating tax, construction, planning and real estate disputes where required.
As the first four assets to be acquired by the fund, the work incorporated extensive collaboration with the Jersey trust advisors. Subsequently, the properties have been secured against debt finance, necessitating a financing transaction with the firm’s Banking and Finance team.
Cam Fraser, CIO of Marchmont said “The UK multi let industrial (MLI) market has repriced more rapidly than others, presenting an opportunity for Space Industrial to invest in high-quality, income-producing MLI real estate, promising strong risk-adjusted returns. The venture will target assets between £10m-£100m and will look to provide capital solutions for Industrial Real estate platforms.”
What’s in store in ’24? Andrew Crabbie quoted in BE news
30 January 2024
Views
Andrew Crabbie, Partner and Head of Commercial Real Estate, has been quoted in BE News offering his predictions for 2024, alongside other leading industry figures.
Crabbie highlighted the importance of high quality, sustainable office space to occupiers, as Forsters settles into their new office in 22 Baker Street. He stated:
“Planning will continue to be a thorn in the side for developers. Local and national government must get to grips with the planning application bottlenecks (though with a general election looming, it is likely this will be on the back burner). The impact in 2024 of the introduction of biodiversity net gain regulations will prove another challenge to developers. Michael Gove’s decision to refuse M&S’s plans to develop its flagship store on Oxford Street on the grounds that the project was not compatible with the transition to a low-carbon future has amplified the ‘demolish and re-build versus retrofit’ debate, which will continue to run in 2024. From an occupier perspective, the flight to quality zeitgeist will grow across all assets as companies share the same priority of inhabiting well located, highly amenitised, sustainable and flexible workspace that puts the performance and well-being of its employees at its heart. Indeed, here at Forsters we’re a living, breathing exemplar as in January we’re consolidating our London business into a new headquarters on Baker Street in the heart of Marylebone.”
The full article was published by BE news and can be read here (behind their paywall)
Shorter, faster, better, stronger – Andrew Crabbie speaks to IREI
1 June 2023
Views
Partner and Head of Commercial Real Estate, Andrew Crabbie, has featured in Institutional Real Estate, Inc.’s latest piece on how an increase in flexible leases will drive up innovation, rental income and standards across every conceivable metric.
Due to the disruptive and unpredictable nature of the last 25 years, almost all industries have been gripped by a continuous sense of uncertainty.
In relation to real estate, one trend to come from this is the movement towards shorter and more flexible tenancy agreements. Crabbie explains that due to this desire for flexible tenancies (primarily from SMEs), landlords have increased the amount of turnkey space they offer.
“Increasingly, landlords are providing letting deals where the landlord is doing the basic finishing works to the building – and the full cat-b fit-out. So the tenant just walks in. This is 100 percent in line with the tenant requirement for flexibility and the need to transact swiftly.”
The article goes on to clarify how landlords enabling a “plug-in-and-play” solution to tenants also benefits them, allowing them to charge higher rent in exchange for immediate occupancies and landlord responsibility for dilapidations at the end of the tenancy.
This article was originally published by Institutional Real Estate, Inc. on 1 June 2023 and can be read in full here (behind their paywall).
Shaking the foundations – Andrew Crabbie Maria Shahid and the Law Society Gazette
9 December 2022
Views
Head of Commercial Real Estate, Andrew Crabbie, has been extensively quoted in Maria Shahid’s latest piece, originally published by the Law Society Gazette, on how the uncertainty and fragility of the UK’s real estate market is being mitigated by a “wall of capital” from overseas.
The low down
The UK commercial property market is struggling. That is not unprecedented, but the sector’s challenges are much less straightforward than during the boom-bust economic cycles of the past. Property lawyers cite war in Ukraine, Brexit and ‘Trussonomics’ as complicating factors. Lawyers remain hopeful that after months of political turmoil, planning reforms may finally get under way, but geopolitical uncertainty and rising interest rates are twin headaches. Bargains abound for overseas buyers, as distressed assets and a weak pound present big opportunities. Or they would do if owners were not hanging on, apparently in denial about taking a ‘haircut’ on their investments.
Tumbling commercial real estate valuations and sales seem to signal a slump. But talk to commercial property lawyers at the sharp end of transactions and a more complex picture emerges. There is plenty to keep them busy, but often that is not good news for clients. The Gazette canvassed the sector’s specialists on how they are juggling the multiple challenges they face – from war and Covid to the legacy of ‘Trussonomics’.
Problems are multiplying
Crabbie commented: ‘We are only two years into a decade in which we have already experienced Brexit, Covid, the conflict in Ukraine and escalating climate change, which have accelerated political instability and economic downturn.’
Kwasi Kwateng’s notorious ‘mini-budget’ in September had a tangible impact, he adds: ‘After the chaos of “Trussonomics” and the resultant turmoil in the debt and gilt markets, it is unsurprising that major real estate investment deal activity has stalled.’
Kate Topp, partner and head of real estate at Ashfords, concurs: ‘Since the mini-budget we’ve definitely seen what I would call a slowing of transactions,’ she says. ‘I haven’t personally experienced anything becoming abortive but of course residential developers are having to take stock given the rising cost and general availability of mortgage finance.’
Boyes Turner partner Mark Appleton also points to overlapping problems for the real estate sector. ‘The property market has been hit by various factors: the war in Ukraine resulting in increased energy prices, rises in the cost of living and inflation, together with an ill-conceived mini-budget and political instability resulting in interest rate rises and a diminution in the appetite to lend on property transactions,’ he says.
Brexit effect
Can you form a clear picture of events while they are still unfolding? That is difficult, but on Brexit the challenges do not stop people from trying.
Ray Oshry, partner and head of commercial real estate at Harold Benjamin, sees little change in that respect. ‘To be honest, we haven’t noticed much impact at all from Brexit,’ he says. ‘In fact, we as a firm are busier than ever across the board. The reality is that everything in commercial property has been overshadowed by the pandemic, the war in Ukraine and the cost of living crisis, and their impact. This has had a significant impact on certain types of commercial property such as leisure and retail, and we are still experiencing the after-effects of that today.
‘If not for the Covid-19 pandemic, we may have noticed the effects of Brexit to a greater extent. It is likely we will feel some of the effects in the years to come, but it’s currently still a case of let’s wait and see.’
There is a more immediate effect on development work, notes Stephen Hedley, partner and head of real estate at Cripps. ‘The main impacts post-Brexit are supply-chain delays and cost pressures on development projects coupled with labour and skills shortages,’ he explains. ‘The pandemic and other global events compounded these issues and challenges remain, and in many instances are more acute. The significant impact on construction projects continues.’
Irwin Mitchell’s national head of real estate Adrian Barlow also highlights post-Brexit construction challenges. ‘The shortage of materials and labour remains an issue for our developer clients that has been exacerbated by Brexit,’ he says. ‘Developers are looking for flexibility with construction timescales in contracts and the ability to reduce prices to take into account rising construction costs. Interest in advice on drafting contracts has therefore never been higher.’
Topp confirms this: ‘Unfortunately, the availability and cost of mortgages is not the only challenge – the rising price of materials and issues in the planning system continue to impact on all developers, but particularly the SMEs.’
What about commercial tenants’ response to Brexit? Barlow says: ‘We have also found that tenants are looking for more flexibility in response to the rising cost of doing business. The “regearing” of leases to introduce breaks and rent concessions is particularly common – again bread and butter income for property lawyers.’
Post-pandemic bubble has burst
Hedley says: ‘For the wider commercial real estate teams the post-pandemic investment bubble has burst.’ Global and political events have led to a slowdown in these transactions. ‘Although we are still seeing healthy levels of interest in UK property from inward investors from the Middle East, far east and elsewhere in Europe… it’s clear some are holding back in anticipation of further price corrections.’
‘Covid has resulted in poor occupancy rates – about half of the pre-Covid rates,’ Boyes Turner partner Mark Appleton notes. This has led to surplus space which owners and occupiers are trying to sell or let. ‘As a result, investors have sought to take money out of property funds and place it elsewhere. Such funds may be forced to sell assets under value to plug a financial hole.’ It is reported, he notes, that Landsec accepted £809m from Lendlease for the Deutsche Bank building on Moorfields, London, compared with the original price of £1bn. ‘Things do not bode well when the UK property market made its worst ever return [in October],’ he adds.
Covid’s cottage industry
Irwin Mitchell’s Adrian Barlow says dispute resolution remains ‘extremely busy’. He explains: ‘On the disputes side, the statutory moratorium on enforcement action by landlords for commercial rent arrears built up when businesses were forced to close due to the Covid pandemic ended on 23 September. This led to significantly increased instructions from landlords looking for advice on their options to forfeit (terminate) leases for non-payment of previously “protected” arrears and pursue payment through various methods.’
Cripps’ Stephen Hedley says: ‘The pandemic created its own Covid-specific cottage industry for dispute resolution lawyers. There was the emergency legislation restricting landlord enforcement, the developing body of case law relating to the liability to pay rent during lockdowns, and the post-lockdown Covid arbitration scheme. These matters are concluding and Covid-specific litigation will likely soon be a thing of the past.’
Barlow says: ‘Looking forward, current economic conditions suggest more work for investors with defaulting tenants, for tenants looking to reduce their rent or get out of leases, and for the parties affected by delayed or aborted development or investment projects.’
Buyers and sellers: two worldviews
‘From a land-acquisition perspective,’ Topp says, ‘there definitely isn’t the same pre-Christmas rush from a purchasing developer’s point of view to get deals over the line, rather a desire to keep things moving; but see how things pan out in the new year.’
Crabbie highlights the problems arising when buyers and sellers have misaligned expectations – understandable in a market in flux. ‘The big challenge is pricing,’ he says, ‘and the disparity between expectations on both the sellers’ side, who are naturally reluctant to be pushed into a fire sale, and the buyers’ side who are eager to identify so-called distressed assets and scoop a bargain. It is difficult to predict with any degree of certainty where pricing corrections will eventually land but, depending on the sector, values may be down 10-20% from 12 months ago.’
Will sellers accept the ‘haircut’? Robin Grove, divisional managing partner of construction, real estate and disputes at Charles Russell Speechlys, says: ‘The weight of largely private capital seeking opportunities to invest means there will be a transactional market in real estate assets, once assets have been revalued. Those needing to refinance or exit to create liquidity recognise that revaluation to the “new normal” is needed and will do so more quickly than previously.’ Therefore, he says: ‘We expect the transactional market to reboot in early 2023, not least as overseas private capital seeks to take advantage of the weak pound.’
Hedley says: ‘On the occupier side and day-to-day asset management, we see resilience with no significant downturn. This includes office occupiers as we continue to see strong demand for high-grade offices within particular locations. [In London], there is also strong demand from high-end retailers in high-end residential areas such as Chelsea and Shoreditch, but not in traditional locations such as Regent Street.’
Borrowing costs and inflation
Crabbie says the ‘real gamechangers are interest and gilt rates which are driving uncertainty. Interest rates are likely to continue to rise into the early part of next year, and I would expect them to plateau around the second quarter’.
Prices are falling. ‘On one hand we have seen a reduction in property transactions, particularly due to higher borrowing costs, rampant inflation and soaring energy costs resulting in businesses generally having less disposable income for investment,’ Barlow says. ‘Clients are in some cases battening down the hatches and preparing for the impending recession… all of these factors have reduced the demand for commercial property, causing property prices to fall and clients seeking to withdraw from deals or looking to “chip” the price on property acquisitions.’
Conversely, Barlow says, ‘many clients are seeing excellent opportunities. Some businesses are under pressure to dispose of assets due to property corrections in the market. Cash-rich clients that have the money and appetite, and that can move quickly, are therefore identifying opportunities’.
Some developer clients are hanging on to sites until development costs make ‘building out’ more viable. ‘But, in the meantime,’ Barlow says, ‘they are getting income by leasing to tenants in the leisure and agricultural sectors, with breaks that enable them to regain the site when the time is right. Similarly, in the retail sector landlords are starting to rent vacant units for temporary “meanwhile uses” such as arts and creative centres, and in some cases looking to benefit from permitted development rights and converting properties from retail to residential use. We are able to advise on all such activity.’
Attractive assets
There remains a considerable ‘wall of capital particularly from overseas… waiting to be deployed in real estate’, Crabbie says. Such investors are, he adds, ‘benefiting from the weakness of the pound. I think we will see the return of good old-fashioned real estate asset management to create value enhancement as opposed to relying on a low-interest-rate regime. The fundamental of right location with strong tenant demand’.
In an inflationary environment, Crabbie says: ‘Rented residential, hotels and student accommodation will be attractive sectors. With the fundamentals of logistics remaining strong, retail undergoing something of a transformation and offices being at the forefront of the drive to decarbonisation and sustainability, new investor opportunities should arise.’
He remains ‘cautiously optimistic about the overall prospects for 2023 and that real estate will retain the resilience which has been its hallmark over my 30-year career’.
Clients are, Hedley notes, affected differently: ‘Where we see most activity is with clients not exposed to high debt costs.’ Activity, he says, has primarily been industrial and non-fashion retail parks. ‘Mixed-use development in major conurbations appears for now to be holding up. Lack of debt and interest rates seem to be a key issue, alongside price uncertainty. There is also still an element of political uncertainty making investors cautious.’
Jennifer Chappell, real estate counsel at BDB Pitmans, also notes that ‘the outlook for industrial sites, such as warehouses and life science labs, still remains incredibly strong.’
Cash is king
What next? Hedley says: ‘Higher interest rates and an economic downturn will inevitably see a greater focus on cashflow. For landlords this means measures to ensure rents are received. There will be an upturn in insolvency-based advice, whether in connection with CVAs, administrations or liquidations.’ Property-related professional negligence claims, he says, ‘will likely see an upturn, as is often the case in an economic downturn’.
Appleton says: ‘A nervous property market is unhealthy. These factors could easily lead to a downward spiral and ultimately a property recession unless overseas investors and wealthy funds bolster the market. Experts seem to think that any property crisis will not be as bad as the 2008 recession.’
However, he adds: ‘In the near future, there is bound to be a period of increased interest rates, a lack of demand until the economy gets back on its feet and property price readjustments.’
Topp sees a role for the state in improving the market. The planning system in particular, she says, ‘requires a good deal more investment and an increase in the number of experienced planning officers if the government is going to make any significant inroads into its new homes delivery target’.
Ending on a positive note, Grove says: ‘The office market remains an essential sector despite the changing accommodation requirements after Covid, and quality, including sustainability, is becoming ever more critical to protect asset value. Integrated teams of transactional and dispute lawyers close to their opportunistic clients will find their teams remain busy in 2023.’
This article was originally published by The Law Society Gazette on 2 December 2022 and can also be read here.
The annual EG Awards seeks to showcase the very best across the built environment with 21 awards highlighting the best deals, innovations, businesses and individuals in real estate. The judging of the Legal Team Award will be based on the firms’ track record in delivering outstanding advice on transformative deals, as well as responding proactively to the implications of the pandemic, and demonstrating the championing of core values such as diversity, inclusivity and sustainability.
Over the past two years, Forsters has enjoyed a period of sustained growth and success. Client service is one key driver, and another is our collaborative and collegiate working culture.
Our top ranked Real Estate team has established a strong reputation within the market for delivering high-quality and seamless advice to a broad range of clients; from private and institutional investors to developers and occupiers. We have also positioned ourselves as one of the go-to firms for overseas investors seeking to enter or consolidate their activity in the UK market.
Head of Commercial Real Estate, Andrew Crabbie said, “We are delighted to have been shortlisted for this prestigious award. Forsters is, and will always remain, a firm with real estate at the centre of its practice so it is incredibly pleasing to receive this impartial recognition of the team’s work.”
The winner is set to be announced on 2 November 2022.
Q&A: Five minutes with Andrew Crabbie, Head of Real Estate at Forsters, speak to Property Week
8 April 2022
Views
Head of Real Estate, Andrew Crabbie, spoke to Property Week on how he got started in property, his book and podcast recommendations, the celebrity he would most like to meet and his number-one travel destination.
Andrew said “I have spent my career in a fascinating industry that continues to evolve, inspiring and challenging us all – never more so than in present times.”
The article was first published on Property Week on 7 April 2022, and is available to read in full here, behind the paywall.
Forsters recognised again in The Times’ Best Law Firms 2022 Listing
5 November 2021
News
Forsters, one of London’s leading Real Estate and Private Wealth law firms, has been recognised in The Times’ Best Law Firms 2022 listing.
Published on 5 November 2021, the listing recognises the best lawyers for business, public and private-client law across England, Wales and Scotland, as chosen by lawyers.
Forsters is commended for its Real Estate and Private Wealth law capabilities, the firm has been ranked as a ‘Best For’ firm in the area of Landlord and Tenant law. Forsters is also commended for Commercial Property, Family, and Inheritance and Succession.
Forsters’ continued inclusion in The Times Best Law Firms is testament to the firm’s strength and breadth of expertise and solidifies our reputation as a go-to firm for real estate and private wealth advice.
Chambers and Partners continues to recognise Forsters as one of the leading London firms
21 October 2021
News
Chambers and Partners have today launched their latest guide to the legal market. Forsters is delighted to report that it has maintained its Top Band status in both Real Estate and Agriculture & Rural Affairs, and that the firm’s Property Litigation practice has been elevated to Band Two.
The news follows the firm’s success in the Chambers HNW Guide, where our Private Wealth Law and Private Wealth Disputes teams retained their Top Band ranking.
The UK Guide ranks 24 of Forsters’ leading Partners and Counsel and also recognises other expert teams including Property Litigation, Family and Construction. Included this year are four new individual rankings; Ben Barrison, Emily Holdstock, Richard Spring and Victoria Towers.
The Guide reports that “High-level client service and prompt, well-resourced and informed advice.” Are key features of the firm, further cementing Forsters reputation as one of the preeminent firms in the London market.
Chambers notes: Well-regarded rural team with capabilities across rural property, tax and contentious work. Clientele includes owners of traditional landed estates as well as international purchasers.
“It’s a dynamic team who are able to apply considerable skill and focus to a specific project. They have a depth of knowledge but more importantly approach problems with a can-do attitude and take particular care around managing their clients.”
Advises a number of leading real estate funds, offering expertise in all kinds of investment transactions. Also handles development matters including sizeable residential schemes. Represents developers, investors and landlords in relation to retail property concerns and also has notable expertise in handling matters related to the logistics sector. Continues to advise The Crown Estate on a range of matters concerning its London property portfolio.
One client says: “The team is experienced, knowledgeable, accurate and proactive. We have always had a good experience working with them, even on difficult projects.”
Chambers Notes: Represents a broad client base ranging from institutional investors and funds to property developers. Advises on a wide range of residential property disputes and enfranchisement cases. Maintains substantial expertise in contentious matters concerning rights to light, service charge disputes and professional negligence claims.
A great quote for Ben: “He’s a pleasure to work with and has a good relationship with clients. He recognises the strengths and weaknesses of a case and gives clear instructions.”
Chambers notes: Broad practice covering complex and high-value financial remedies, as well as a variety of children law matters for married and unmarried parents. Advises foreign nationals on complex post-separation issues, as well as UK-based parties with cross-border asset portfolios. Houses significant strength in nuptial agreements covering multiple jurisdictions. Particular experience in cases with trust-related issues, and acts on behalf of trustees.
A great quote for Jo: “She’s a well-known, reputable practitioner who can do everything!”
Forsters’ Family team is also ranked in Band Two in the Chambers HNW Guide 2022. Jo Is also ranked in Family/Matrimonial: Mainly ADR – London (Firms) table.
Chambers notes: Well-respected firm with a strong reputation for purchaser-side representation in both a contentious and non-contentious capacity. Receives regular instructions to advise clients on large-scale domestic residential and commercial developments. Able to assist with construction-related disputes, with experience in representing clients in the Technology and Construction Court, as well as arbitrations and adjudications.
“They are very commercial, incredibly responsive and cut through all of the unnecessary jargon”, an impressed client reveals.
The following Partners and Counsel are also Ranked Lawyers in the 2022 Guide:
Victoria du Croz – Planning “Victoria du Croz is extremely competent in the field, providing clear, succinct advice that aims at solving issues in a proactive way.”
Dearbhla Quigley – Capital Markets: AIM “She provides top-draw advice and guidance and has good technical abilities.”
Neasa Coen – Charities “She really adds value for us because she understands where we might see problems and presents us with options to get over our difficulties.”
Forsters’ top-ranked teams shortlisted in the Legal Business Awards 2021
3 September 2021
News
We are delighted to announce that Forsters has been recognised in the 23rd annual Legal Business Awards, which celebrates the very best in the legal profession.
Two of our top ranked teams have been selected by the judging panel as finalists in this year’s awards:
It is a testament to the firm that both of our principal practice areas have been selected by the research team at Legal Business. The shortlistings demonstrate the strength of expertise within our top-ranked teams, acknowledging the high quality and complex work that is carried out for both domestic and international clients.
In the last year both teams have grown in size and specialism, the Real Estate team welcomed the arrival of a 16-strong team from Orrick, while our Private Client practice saw three Senior Associates promoted to Partner.
The winners will be announced at the awards ceremony on 30 September.
Senior Partner, Smita Edwards who led the transaction for Octopus Real Estate which featured in our property submission commented: “I am delighted to see our real estate team recognised for our work in advising Octopus Real Estate on the acquisition of eight purpose built care homes. This was one of the biggest portfolio purchases completed to date by the Octopus Healthcare Fund and our team delivered on this challenging project within a demanding timescale. With thanks to Amy France, Ruth de Maupeou, Danielle Kenyon, Emma Francombe, Richard Spring, Caitlin Ervine, Lauren Archer, Laura Parrish and Sophie Smith who all played a significant part in the team’s success.”
Head of Commercial Real Estate, Andrew Crabbie commented: “We are, of course, delighted to be shortlisted for Property Team of the Year. The above transaction is just one of the many complex transactions we have handled this year. It has been a great year for us as a team.”
Head of Private Client, Xavier Nicholas commented: “Forsters has long been known for its expertise in advising on all aspects of private client matters. In a time that has presented challenges for families and businesses throughout the world, it is particularly satisfying to be recognised for our work and client commitment, as well as the strength of talent we have within our group.”
Forsters has advised Octopus Real Estate in relation to the acquisition of eight new care homes from LNT Care Developments for an overall purchase price of over £100 million.
From growing a business to starting a family or handing over control of that business to the next generation, every individual has their own goals to aspire to. Our Private Wealth lawyers advise our clients throughout this family life cycle, providing the legal advice required for specific transactions such as purchasing a home or selling a business, whilst also advising on the long-term opportunities for succession and estate planning.
Head of Commercial Real Estate interviewed by Estates Gazette
5 July 2021
Views
Forsters’ Head of Commercial Real Estate, Andrew Crabbie, has been interviewed by Estates Gazette on his views of supporting clients through the pandemic, how clients needs have changed during it and what the team are focusing on in 2021.
1. When working with your clients in such challenging times, what would you say are the top three things that your team are focused on to support your clients?
“First, I would say that having the right IT software to support our clients has been crucial. Having robust software in place has ensured that there have been no dips in service and that transactions have closed on time. We already had HighQ, a cloud-based platform for document sharing, in place prior to the pandemic but it has really come into its own during the crisis and I think it will continue to do so, as we hopefully make our way out of it. We’ve obviously made use of both Microsoft Teams and Zoom and have found that being able to easily share screens has significantly reduced negotiation time. Being able to use digital signatures through DocuSign has also been massively helpful, although again, this was in place for us before the pandemic.
Secondly, I think showing empathy has been really important; the pandemic has been a humbling experience for us all.
Thirdly, and this has always been a focus of the team, putting ourselves in the shoes of our clients, understanding and anticipating issues for them to make their lives easier.”
2. What are the lessons/trends that Forsters have taken from this crisis and how has your business changed as a result in the past 12 months?
“I think we’ve gone full circle since the first lockdown was announced and we are now looking forward to getting back to many things that we used to take for granted, such as being in the office, however frequently, seeing our colleagues, clients and friends face-to-face. A lesson, which is one I think we all knew anyway, is that there are no short cuts to building strong business relationships and meeting and collaborating in the real world play a huge part. Many of our best client relationships have developed over decades and been built on by successive lawyers and client teams; video calls do not really compare to being able to celebrate the closing of a transaction or other milestone in person or even just having a chat in the same room. I’ve certainly felt the difference in not being able to do those things and I think this goes to the heart of what makes the property market such a compelling sector; it is really the people and relationships you build up across the industry which, for me, make it so interesting and enjoyable and gives it vibrancy.”
3. How have your clients’ needs changed and how has your team adapted?
“Our clients’ needs haven’t changed during the course of the pandemic but we have seen significant adjustments to the legalities that underpin the property sector, in particular in relation to landlord and tenant relationships. The team has had to stay ahead of these developments so that we can advise our clients of the changes which impact them and how such changes can be managed. Over the last 15 months or so, we’ve focussed on providing webinars, client briefings, digital content and podcasts to cover these new developments, as well, of course, as having regular chats with clients.”
4. Is there anything that Forsters is focussing on in 2021 that you can share with our readers?
“For us, together with many across the industry, we are focussing on sustainability both for us as a business and also to enable us to keep our occupier, landlord, investor and financial services’ clients up-to-speed. Sustainability is such a hot topic at the moment and looks like it will continue to be for the foreseeable future but it’s also a very fast-moving area with ever-changing standards and rules, so our clients tell us it is an area in which they welcome our knowledge and assistance.”
As a business, Forsters has had carbon neutral status since 2007. If you are interested and want to see our latest updates, as well as our own track record in sustainability, you can find these on our Sustainability Hub.
The move to further sustainability within Real Estate is increasingly driven by the increased connection between sustainability and financial viability.
