The development market has seen significant changes recently with big development companies looking for merger partners or take over targets in order to benefit from the economies of scale that increased production brings. This has left the smaller private developers looking for the more imaginative and complex development opportunities, which when they come good, reap better returns.
Our real estate practice advises on all aspects of real estate development, whether acting for developers, landowners, architects or builders.
For developer clients - which may be commercial or non-profit organizations - we acquire sites, provide legal support during the planning and construction phases, and conduct the final unit sales.
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Some clients develop their own land, in which case we act on their behalf in the development project and onward sales or leases. Others want to sell to or partner with a third party, and for them we are able to negotiate on a variety of arrangements with developers. These might involve setting up joint ventures or other multi-purpose vehicles, the negotiation of promotion agreements or options, or drawing up long-term (ground) leases.
Tax is a crucial consideration. Many of our clients are landowning institutions and families and we have acquired a great deal of experience in devising practical and tax-efficient solutions for the structure of their real estate affairs.
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Jeremy Wakeham
DD: +44 (0)20 7597 6177
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Philip DiGennaro
DD: +1 203 974 0344