With one of the largest dedicated real estate practices in the market, our team of over 90 lawyers has an outstanding reputation for delivering a high quality and seamless service to our clients. We pride ourselves on our partner-led service dealing with complex issues and working closely with our clients throughout an asset life-cycle.
Our clients comprise institutional investors, private and publicly quoted property companies, funders, developers, occupiers, rural and urban estates, charities, high net worth individuals and landowners involved in all types of commercial real estate matters. These include Aberdeen Standard Investments, BA Pension Fund, Knight Dragon Developments Limited, LaSalle Investment Management, LXB, Rockspring Property Investment Managers and The Crown Estate.
We have established ourselves as one of the go-to firms for overseas investors seeking to enter or consolidate their activity in the UK market. Our combined core strengths of property and wealth management allow us to provide a fully integrated service to private and institutional investors.
Our sophisticated client base expects comprehensive tailored advice across all real estate services delivered at a consistently high level. We have strength and expertise whether advising on a high value investment asset, complex mixed use development projects, joint ventures and other corporate structures or a large corporate's occupational requirements. It is our breadth and depth of experience that sets us apart from our rivals.
In an effort to mitigate the economic impact of the Covid-19 pandemic while still seeking to limit the spread of the virus, the Government has announced that most non-essential shops, department stores and shopping centres will be allowed to reopen in June 2020.
Podcast host, Knowledge Development Lawyer Miri Stickland, is joined by a trio of partners, Magnus Hassett from Commercial Real Estate, Ben Barrison from Property Litigation and Emily Holdstock from our Construction team, to discuss some of the issues we have seen affecting the real estate market as a result of the Covid-19 pandemic.
Despite stimulus packages from the Government, it unfortunately seems inevitable that a large number of businesses will enter liquidation in the short and medium term as the economic impact of the Covid-19 pandemic is felt in nearly every sector.
Note for landlords of commercial properties- particular points re rent recovery from tenants in current market conditions
Many tenants (particular those in the retail and hospitality sectors- but also a considerable number of office and industrial tenants) are not paying their rent in full or, in many cases, at all. Some of these tenants are major companies (such as JD Sports and WH Smith) who one would think could afford to pay. According to press reports, only 48% of commercial rents had been paid for the March 2020 quarter by the start of April.
The restrictions on movement imposed by the Government, in its attempt to control the spread of coronavirus, have exacerbated the already difficult trading conditions in which many retailers find themselves. Recent days have seen the sad news that both Debenhams and Cath Kidston have filed notice to appoint administrators. It can be expected that others will follow.