We appreciate that no two property investments are the same: investing in development projects requires an understanding of planning and zoning law and the web of contractual arrangements between contractors, consultants and developers. Stabilised assets bring their own challenges, from complex leasing arrangements with existing tenants to asset, property and hotel management agreements.
Even when acting for equity investors, it pays to bear in mind a debt provider’s requirements and our real estate finance specialists are on hand to advise.
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We appreciate that development projects often require a fulsome cast, including technical advisers, planning consultants and asset and property managers. Our team is adept at collaborating; with our clients, with other advisors and with each other.
We also recognise that a successful scheme relies upon strong and efficient management of the development process, from site assembly and obtaining planning permission all the way through to building out and handing over to occupiers. We are proud to offer a full-service real estate team. Our planning/zoning specialists have extensive experience navigating complex and evolving planning systems and our construction experts regularly advise on the full range of procurement structures, working closely with in-house tax, environment and mainstream real estate lawyers to deliver a seamless client service.
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Working together with our corporate, tax, investment funds, banking and anti-trust and foreign investment teams, as part of the firm’s dedicated real estate sector approach, our global real estate team is exceptionally placed to provide our clients with unrivalled top-tier cohesive, focused and commercial advice across all the relevant specialisms and geographies. Crucially, our team has a wealth of experience dealing with not only corporate joint ventures but also partnership structures, REITs and Jersey property unit trusts meaning we can successfully support our clients in respect of all potential structuring options.
Our team has advised on many of the largest cross-border joint venture transactions in the market ranging from single asset structures to multi-asset and multi-jurisdictional platforms investing in both standing assets and development opportunities. Our lawyers have advised on transactions across all asset classes, including commercial property, logistics, hotels, retail, build-to-rent and student accommodation, and have extensive experience of both operational platforms and propco structures.
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Real estate forms the foundation of real estate finance transactions: an in-depth understanding of the ins and outs (and intricacies) of property, construction and planning law, applied in a commercial and pragmatic manner in the context of complex financing structures, is critical for the successful and efficient delivery of real estate finance transactions. Our specialist teams work exceptionally closely (both on domestic, and cross-border, transactions) to deliver streamlined top-quality resources in one seamless package.
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Real Estate Talking Points
In its breadth and depth, our expertise is unique; together with our specialist colleagues across the firm (including tax, employment, intellectual property and litigation & arbitration), we provide seamless and full-service delivery and pragmatic advice, always seeking to deliver the best outcome for our clients.
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Our team regularly advises on upstream and downstream real estate transactions, including the acquisition of real estate companies and properties, and the structuring of property investment funds. Tax considerations are an essential part of this work and our tax capabilities are fully integrated with our real estate and fund structuring teams on a global basis. We have particular expertise in relation to REITs and other dedicated real estate investment vehicles and regularly advise clients on the opportunities that may be offered by these arrangements.
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Linklaters’ real estate experts work closely with our Investment Funds team to provide comprehensive advice to real estate fund managers and other real estate investors throughout the full lifecycle of their investments, including with respect to acquisitions and disposals processes.
We offer a joined-up approach across practice areas to ensure the protection of our clients’ interests and to help align acquired assets with their investors’ strategy.
Our combined real estate, planning and construction expertise helps clients in the evaluation of various asset types including commercial office buildings, logistics and industrial properties, leisure facilities, hotels, retail properties such as shopping centres and residential real estate.
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The lifecycle environmental Impacts of buildings present a complex array of challenges, and an increasingly vast corpus of policy and law has evolved around these. Clients can rely on Linklaters’ real estate ESG specialists to help navigate the commercial impacts and risks of this evolving law. Our focus is on supporting in the application of ESG across a variety of transactions, asset classes and jurisdictions and to find innovative solutions to the new challenges that arise.
Our team of ESG specialists is drawn from our global real estate practice and shares a broad and practical understanding of the green real estate landscape. We regularly advise on regulation and policy, develop precedents, and tailor these to our clients’ businesses.
We see it as a key part of our commitment to advise our clients and to keep them informed of the latest developments in the ESG and climate change arena including:
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Linklaters’ real estate team works closely with our colleagues from the Litigation, Arbitration and Investigations and Real Estate Finance teams to represent developers, housebuilders, landlords, occupiers and real estate finance providers on the full range issues faced in relation to ownership, financing or occupation of real estate. We provide sector-focused commercial advice across UK and international disputes, ensuring that our team is tailored to provide the relevant expertise quickly and efficiently when required.
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Read our Real Estate Talking Points for insights, updates and news on topical market trends.
View all of our Real Estate Talking Points here.
In the dynamic world of hospitality, the Hotel Management Agreement operating model can be the backbone of a successful hotel operation. The Linklaters Real Estate team reflect on some of the key commercial points for consideration when negotiating these agreements – and how to avoid pitfalls.
In our latest Talking Points article, Imogen Jones explores the key inclusions and exclusions, and considers what remains on the to-do list for the new Government.
In our latest Talking Points article, Siobhán Burton, Reza Taylor, Tom Quoroll and Robert Daboul explore what exactly commercial ground rent financing is, how it compares to a traditional loan secured against commercial real estate, and how it stands in relation to more customary sale and leaseback arrangements.
In our latest Real Estate Talking Point, Matt Plaskow and Elyse Yap explore the legal process and strategic options for separation of real estate during a corporate reorganisation.
In our latest Real Estate Talking Point, Hannah O’Malley, Béatrice Taylor, and Gemma Shohet explore the types of obligations which can be found in green leases and the factors which landlords and occupiers alike should think about when negotiating green terms for new leases, as well as the potential impact for investors and lenders.
In our latest Real Estate Talking Point, Rory Bennett discusses the recent M&S case where the High Court quashed the Secretary of State's decision to refuse planning permission for their outdated flagship buildings on Oxford Street, and the ongoing debate concerning demolition versus the retrofitting of buildings in the context of carbon emissions.
In the latest instalment in our Real Estate Talking Points series, Hannah O’Malley explores two areas of the Levelling-up and Regeneration Act 2023 (”LURA”) that could easily be overlooked: the introduction of compulsory rental auctions for high streets and town centres, and new disclosure requirements for certain property transactions.
The Economic Crime and Corporate Transparency Act 2023 received Royal Assent on 26 October 2023. Once in force, Part 3 of this Act will make some important changes to the regime for registration of beneficial owners of overseas entities owning UK land on the Register of Overseas Entities held at Companies House.
In our latest Talking Points article, Siobhan Burton, Kathryn Griffiths and Tracey Kennedy explain the impact of the principal changes and consider what the future may hold in this context.
Is the 1954 Act fit for purpose? Now almost 70 years old, the Government has decided that it is time for a review of the law on security of tenure.
In our latest Talking Points article, Hannah O’Malley explores the Law Commission’s plans to review the current law, the Government’s aims in commissioning this review, the challenges which the 1954 Act presents, and the possible outcomes of the review.
The long-awaited regulations in respect of the Building Safety Act 2022, which introduce new steps for (a) the construction of new “higher risk buildings” and (b) the carrying out of works to existing “higher risk buildings”, are now – following the enactment of the latest package of secondary legislation – in force as of 1 October 2023.
In our latest Talking Point, Alex Gandhi and Alexandra Davies explore the requirements of each “gateway” and discuss some of the practical issues lenders should consider when financing the development of a new higher risk building.
The language used in commercial real estate transactions can seem confusing, particularly for new entrants to the market – from conveyances, covenants and contracting out to dilapidations, easements or engrossments, there are plenty of important terms which may be unfamiliar at first.
In our latest Talking Point, our “almost A-Z” provides an overview and explanation seeking to demystify some of these key terms.
When embarking on a development, the list of legal and development considerations, constraints and challenges to overcome can seem limitless and, at times, overwhelming. One such challenge which can be the cause for major headaches is rights of light.
In our latest talking points article, Alexandra Clayton and Rory Bennett go back to basics and discuss how these rights are created; how to find out if they exist and might have a practical impact; strategies for navigating potential claims in order to proceed with development; and what happens if there has been an infringement.
The Electronic Communications Code (the “Code”) came into force in 2017 with the main objective of facilitating the rollout of digital infrastructure across the UK by giving telecommunications operators certain statutory rights when they install and maintain telecoms equipment on privately owned land. However, the Code failed to set out clear enough procedures on various issues, leading to frequent disputes between landowners and operators which have done little to provide a conducive environment for this swift rollout. Is the Product Security and Telecommunications Infrastructure Act 2022 (the “2022 Act”) the solution?
In our latest Talking Points article, we set out three of the key changes in the 2022 Act and a summary of the problem which they seek to solve.