WELCOME TO
CLEAR THINKING
COMMERCIAL REAL ESTATE
AN INDISPENSABLE ALLY THE SCOTTISH COMMERCIAL REAL ESTATE MARKET has been subject to almost constant change since the recession. Deals are structured in increasingly novel ways and access to funding is very different to how it used to be. We understand our clients’ markets and offer pragmatic advice and guidance from genuine specialists. We’ve grown to become one of Scotland’s leading players, recognised by independent legal directory Legal 500, who rank us in their top tier for commercial real estate. We ensure that our advice is clear and easy to follow. We offer transparent billing, agreeing a fixed fee with our clients up front, so that they have complete certainty that they’ll only pay what they have agreed to pay. In short, we’re genuine experts with the added bonus that we offer clear advice, transparent fees and no surprises.
Jonathan Seddon, Partner and Head of Commercial Real Estate
WELCOME TO
REAL INSIGHT
COMMERCIAL REAL ESTATE
WHY US? RATED TIER ONE in independent Legal directory Legal 500, our commercial real estate team is one of the biggest and most experienced in Scotland. The team has grown steadily over the last ten years, and we currently have over 65 expert lawyers who bring their expertise to a wide variety of clients. In recent years we’ve acted on some of the biggest commercial property deals in Scotland, including representing a global brewery company in their £422 million acquisition of 918 properties from a UK clearing bank, and also for a global real estate investment and services company in their acquisition of a real estate backed loan book valued in excess of £750 million.
Our scale and range of experience means that we can successfully resource and deliver any size of Scottish real estate deal.
RATED TIER ONE IN LEGAL 500
£422 MILLION ACQUISITION FOR GLOBAL BREWERY COMPANY
WE HAVE A CLEAR FOCUS on delivering quality and value not only for our clients but also when partnering with firms in other jurisdictions. Our clients like the fact that we are free to partner with whichever firm they are working alongside whether in the UK or internationally.
TRANSACTIONS WORTH MORE THAN £10 BILLION IN 2015
We have recently collaborated with legal firms in Germany, France, Canada, the United States and Italy on deals from corporate acquisitions to real estate transactions and distressed debt purchases. We work with English firms on a daily basis, and in 2015 we advised on Scottish aspects of transactions worth more than £10 billion.
The lawyers are fantastic: they’re easy to contact and approachable and give helpful advice. Chambers and Partners
WE OFFER OUR CLIENTS a variety of different specialist skill sets – as well as the core real estate skills. Our planning and transportation offering is one of the strongest in Scotland with eight specialist lawyers, including three partners. We also have specialists in construction, residential, social housing, security work, joint ventures and telecommunications to fully meet all of our clients’ property requirements. It is this depth of expertise that sets us apart in the market. £750 MILLION ACQUISITION FOR REAL ESTATE INVESTMENT COMPANY
In the area of litigation support we have one of the largest Litigation teams in Scotland, including accredited experts and two practising solicitor advocates, who help deliver excellent value for money to our clients. We also have expertise in Alternative Dispute Resolution including accredited mediators, who can bring a pragmatic and swift approach to resolving disputes. We are ranked in Chambers and Partners, and Legal 500 for general/commercial litigation, as well as for planning.
We have always found their lawyers to be resourceful and commercial with a real willingness to get the deal done. John Fletcher Nationwide
OUR CLIENTS WE ARE WIDELY RECOGNISED AS MARKET LEADERS for commercial real estate work in Scotland. We are fortunate to count as our clients some of the largest private and public organisations in the country including one of the largest supermarket chains, many house-builders, clearing banks and the UK and Scottish Governments.
CLIENTS AND PARTNERS IN SCOTLAND, ENGLAND, WALES AND ACROSS THE WORLD
We look after all real estate requirements for many “household name� clients with extensive property interests. This expertise includes portfolio sales and acquisitions, sale and leasebacks as well as large-scale refinancing. Our day-to-day estate management expertise includes a significant amount of leasing as well as planning and development work for an increasing number of clients who are rolling out newly developed or refurbished properties as part of wider expansion programmes. We are privileged to work with clients with whom our relationship goes back decades. We are also fortunate to have welcomed new clients in recent years, many won after competitive tender or by word of mouth from existing clients. For every single client - old or new - we work hard to challenge ourselves to continue to deliver great service and fantastic value for money.
PROPERTY INVESTMENT
PROPERTY DEVELOPMENT
David Stewart 0131 247 1176 david.stewart@morton-fraser.com
Michael Ramsay 0131 247 1044 michael.ramsay@morton-fraser.com
RETAIL AND LEISURE
STUDENT ACCOMMODATION
HOUSEBUILDING
Elspeth Carson 0131 247 1201 elspeth.carson@morton-fraser.com
Brian Hutcheson 0141 274 1119 brian.hutcheson@morton-fraser.com
Brian Macfarlane 0141 274 1115 brian.macfarlane@morton-fraser.com
PROPERTY IN PENSIONS
GENERAL REAL ESTATE
Fergus McDiarmid 0141 375 0796 fergus.mcdiarmid@morton-fraser.com
Jonathan Seddon 0131 247 3177 jonathan.seddon@morton-fraser.com
CONTACT US
The overall level of service is outstanding. The value for money is impeccable. Chambers and Partners
OUR PROMISE
IT'S SIMPLE.
We guarantee that we will provide clear advice and transparent costs. You have our word.
PROPERTY INVESTMENT OUR EXPERTISE COVERS: planning construction property finance environmental on-going asset management • corporate • • • • • •
COMMERCIAL REAL ESTATE
PROPERTY INVESTMENT Morton Fraser provides a first-class level of service and attracts praise for its fantastic market knowledge. Legal 500
WE’RE HIGHLY EXPERIENCED in the acquisition, management and disposal of all types of property investment assets. Our clients range from blue chip institutional funds and boutique property specialists to private individuals. If you’re a serious investor… We’re constantly out there in the marketplace, doing deals or meeting dealmakers. This means we know the market and so can give clients the best possible advice. And direct them to the key issues so that they can concentrate on what’s important. We provide a high end, commercially sophisticated and complete service. We have strong investment experience throughout all of our teams, and at all levels. This means that we can manage deals as efficiently as possible. …you’ll need clear legal advice Our driven, enthusiastic team stay at the forefront of IT developments. These include a dynamic, market-leading data site function. This allows us to make relevant information available 24/7. For further information, please contact: David Stewart, Partner
0131 247 1176 david.stewart@morton-fraser.com www.morton-fraser.com/propertyinvestment
PROPERTY DEVELOPMENT OUR EXPERTISE COVERS: strategic planning construction property finance corporate and joint ventures • planning and deeds of condition • section 75 agreements • • • •
COMMERCIAL REAL ESTATE
PROPERTY DEVELOPMENT Morton Fraser’s commercial property practice sets the benchmark for client care and quality of service. It handles all requirements for many of Scotland’s biggest landowners. Legal 500
OUR TRACK RECORD in commercial real estate development is long-standing. We’re currently involved in some of the biggest, most high profile property development projects in Scotland. If you develop on a grand scale… We understand the market. We understand the latest funding trends. Plus the attitudes and priorities of occupiers and purchasers. This expertise allows us to give clients the best possible commercial advice. We deliver it in a clear, proactive manner. All so that clients can focus on what’s important to them and forget about what isn’t. … you’ll need clear legal advice We act for property developers, funders and forward funders, purchasers and occupiers. Our core property development team work in conjunction with partner led specialist teams covering all of the add on specialisms that are needed to deal with high value, complex development projects.
For further information, please contact: Michael Ramsay, Partner 0131 247 1044 michael.ramsay@morton-fraser.com www.morton-fraser.com/propertydevelopment
RETAIL AND LEISURE OUR EXPERTISE COVERS: • space requirements • licensing • employment • corporate contracts COMMERCIAL REAL ESTATE
RETAIL AND LEISURE The Morton Fraser team are responsive to our needs and requirements and get to the ‘bottom-line’ very quickly. Callum Ford Development Manager for Scotland and Northern Ireland Tesco Stores Limited
RETAIL AND LEISURE INCREASINGLY SIT HAND IN HAND - whether in shopping centres, out of town retail parks or on the high street. If you’re into retail and leisure… We have a strong reputation in the sector. It’s built on representing tenants, landlords and owner-occupiers. This breadth of experience makes our people commercially astute. It ensures the team understands what really matters. Our team of lawyers work closely together to provide a full service. We provide clients with a “go to” contact who manages their transactions. Our client contact will be up-to-speed with their portfolio and business needs. … you’ll need clear legal advice We act for a large number of retailers - household names as well as commercial landlords. We also have lots of experience in the food and drink sector. For further information, please contact: Elspeth Carson, Partner
0131 241 1201 elspeth.carson@morton-fraser.com www.morton-fraser.com/retailandleisure
STUDENT ACCOMMODATION OUR EXPERTISE COVERS: • • • • • •
real estate construction planning banking tax environmental COMMERCIAL REAL ESTATE
STUDENT ACCOMMODATION They offer excellent client service and attention to detail. They have the ability to explain even the most complex of issues in a very clear and concise way. Chambers and Partners
WE HAVE AN ESTABLISHED TRACK RECORD in this sector. We act for operators, investors and funders, contractors and other professionals and have all requisite expertise in-house. If you’re handling major deals… We understand the unique commercial drivers affecting the sector. Brian Hutcheson, who leads our eight partner team, is recognised by Legal 500 as a ‘high calibre commercial property expert.’ …you’ll need clear legal advice Our current portfolio is valued at over £100 million in 2015 deals alone. Having seven teams exposed to the sector means that we can handle deals of all sizes and complexity, while at the same time delivering on our brand promise of transparency and value.
For further information, please contact: Brian Hutcheson, Partner
0141 274 1119 brian.hutcheson@morton-fraser.com www.morton-fraser.com/studentaccommodation
HOUSEBUILDING OUR EXPERTISE COVERS: • site acquisitions and sales • collaboration agreements • development agreements • strategic land acquisitions and sales • option agreements • promotion agreements
COMMERCIAL REAL ESTATE
HOUSEBUILDING The excellent team at Morton Fraser provides a quality service and is extremely proficient, knowledgeable, helpful, efficient and personable. Legal 500
WE HAVE ONE OF THE LARGEST, most experienced Housebuilding teams in Scotland. We act for a number of the UK's leading residential developers. Our understanding of the market, efficiency, quality of service and fairness on price means that we’ve been instructed by some of the sector’s biggest players for more than 30 years. If you build to be noticed… We act for a number of smaller developers and for landowners who are selling ground for development and want expert advice. Our team has decades of experience and deals with all aspects of residential development work. We take a positive approach, tackling issues head on. …you’ll need clear legal advice We look to get a deal done as quickly and efficiently as possible. At the same time we ensure that our clients are fully protected legally. We offer a full service for developers advising on all aspects of transactions including site set up, plot sales, planning and construction. For further information, please contact: Brian Macfarlane, Partner
0141 274 1115 brian.macfarlane@morton-fraser.com www.morton-fraser.com/housebuilding
PROPERTY IN PENSIONS OUR EXPERTISE COVERS: • purchases and sales • transfers between pension schemes • lease management • acquisition of SIPP/SSAS portfolios • litigation support • syndicate and co-ownership agreements
COMMERCIAL REAL ESTATE
PROPERTY IN PENSIONS The overall level of service is outstanding. They're very quick, efficient, on the point and commercially oriented. Chambers and Partners
OUR PROPERTY IN PENSIONS TEAM IS THE LARGEST dedicated team of its kind in Scotland. We have unrivalled experience in relation to SIPP and SSAS real estate matters. If you’re involved in pension-based real estate transactions… We represent many of the UK’s leading providers. Several of these are under exclusive appointment. We advise on all aspects of real estate transactions for SIPPs, SSASs and other types of pension arrangements and structures where commercial property can be acquired. The team covers all pension-based real estate transactions. We’re also experienced in all aspects of the set up of panel processes for pension providers and their development. … you’ll need clear legal advice The team completes hundreds of pension real estate transactions each year. We are members of the Association of Member Directed Pension Schemes (AMPS) the industry body for key players in the pensions sector. For further information, please contact: Fergus McDiarmid, Partner 0141 375 0796 fergus.mcdiarmid@morton-fraser.com
www.morton-fraser.com/propertyinpensions
GENERAL REAL ESTATE OUR EXPERTISE COVERS: • sales and acquisitions • leasing • funding • development agreements • deeds of condition • planning • rural and agricultural law
COMMERCIAL REAL ESTATE
GENERAL REAL ESTATE They’re always very responsive and they make sure they have an in-depth understanding of the positions we are in so that they can advise on the various courses of action. Chambers and Partners
OUR COMMERCIAL REAL ESTATE TEAM IS TOP RANKED by independent legal directory Legal 500. We have 13 partners and over 50 staff in our core commercial real estate team. Whatever your focus, if you’re a major player… Our team has experts who cover the full breadth of services required by the commercial property sector. We have been involved in some of the biggest Scottish property deals in recent years. …you’ll need clear legal advice We act for private and public sector clients including: developers, investors, operators and occupiers, funders, landowners, clients with large property portfolios, contractors and professional consultants.
For further information, please contact: Jonathan Seddon, Partner
0131 247 3177 jonathan.seddon@morton-fraser.com www.morton-fraser.com/generalrealestate
Morton Fraser is a thriving, top ten Scottish law firm, delivering clear advice to businesses, the public sector, individuals and families.
MAKE CONTACT For any of these services please contact us. Edinburgh: 0131 247 1000 Glasgow: 0141 274 1100
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info@morton-fraser.com
• The contents of this document are for information only and are not intended to be construed as legal advice and should not be treated as a substitute for specific advice. Morton Fraser accepts no responsibility for the content of any third party website to which this document refers. Morton Fraser LLP is authorised and regulated by the Financial Conduct Authority.
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