Purchasing a building for development in London SW8

Our client had the opportunity to acquire a freehold mixed use building for development.

The building was subject to a commercial lease of the shop, an assured shorthold tenancy of the residential parts and a hoarding licence of the flank wall.

It was one of two transactions (the other for a development site in another part of SW8) where exchange of contracts was required within 14 days of receipt of draft documentation.


Development

  • Acting for both land owners and property developers in relation to both residential and commercial development projects.
  • Advising on the structure and content of the legal documentation associated with the sale and acquisition of development sites.
  • Negotiating section 106 planning agreements.
  • Negotiation of option agreements and conditional planning agreements.
  • Plot sales / disposals.

Landlord and Tenant

  • Advising both landlords and tenants in relation to the taking of and the grant of commercial leases of all form of commercial property.
  • Dealing with subleases of commercial premises.
  • Dealing with ancillary leasehold documentation such as licences to alter, change of use or licence to sublet.
  • Advising in relation to variations of leases.
  • Advising in relation to agreements for leases including development obligations.

Real Estate Finance

  • Acting for both lenders and borrowers in relation to the taking and granting of security over all forms of commercial property.
  • Acting and advising borrowers in relation to obligations in standard security documentation issued by both corporate and individual lenders.
  • Perfecting a lenders security over the property at the Land Registry and Companies House.
  • Dealing with commercial remortgages.
  • Dealing with variations to existing security or substituted security.

Property Insolvency

  • Acting for liquidators, administrators in bankruptcy in the sale of all forms of commercial property.
  • Acting on and dealing with the sale of property under the Proceeds of Crime Act.
  • Acting for buyers of commercial property from liquidators, administrators and trustees in bankruptcy.

Investment

  • Acting for sellers and buyers of all forms of commercial investment property.
  • Advising on the due diligence to be undertaken in connection with the acquisition of investment premises.
  • Advising in relation to the VAT and TUPE implications arising out of an investment transaction.
  • Advising buyers in relation to their ongoing liabilities under the individual leases.

Corporate support

  • Advising on the property aspects arising out of the sale and purchase of businesses.
  • Advising on the nature and extent of property warranties included within the legal documentation.
  • Advising and dealing with obtaining the necessary consents for the transfer of any leasehold premises as part of the corporate transaction.

Property related Pension Schemes

  • Acting for pension providers and individuals in relation to property related pension scheme arrangements.
  • Advising pension companies in relation to the legal structure of property related schemes.
  • Carrying out appropriate due diligence in relation to the property aspects of a pension scheme.
  • Advising on and dealing with issues arising out of the transfer of assets from one pension fund to another.

Sales and Acquisition of Commercial Property

  • Acting for sellers and buyers in relation to the sale and acquisition of all forms of commercial property

Client Testimonial

“Our projects are often opportunities that arise where there are legal complications and/or the matters are time sensitive. Sometimes we take on projects where others have tried and failed.

“We use Julian De Giovanni because we have found him adept at identifying problems early on and then either resolving them or advising us of our position. He always has in mind the importance to us of being able to sell on completed units quickly and cleanly once we have concluded a project.

“This was a project where there was a lot to be done in a short space of time. Nevertheless the job was still carried out to the same standard as if time were no object.

“Julian puts in the extra effort that is required to get the job done. He is contactable, answers the phone and replies to messages. He meets and exceeds our expectations whilst remaining a pleasant person to deal with! I have had no hesitation in recommending him to others.”

Craig Beevers

SLC Property LTD”

Property Development Company

Client testimonial

“I felt that Julian De Giovanni kept on top of this transaction and ensured that I was regularly updated. This was the first time that we had instructed Julian but won’t be the last.”

Jonathan Hunt
Finance Director

Wallop Defence Systems”

Defence Technology Company

Dealing with creditors’ demands for personal guarantee payments

The company had substantial liabilities to the bank and its landlord. These liabilities were personally guaranteed, jointly and severally, by both directors.

The bank and landlord both called in the personal guarantees by pursuing our client, rather than the co-director who had little cash or assets. 

As a result our client was required to pay the guarantees totalling tens of thousands of pounds.

Claiming a share of the guarantee payments from the co-director

We were instructed to pursue a claim against the co-director for a contribution of half the amount our client had paid. 

The co-director instructed solicitors to resist the claim, alleging they had little or no involvement or control in the business and so should not have to contribute.         

We built a case based on the detailed consideration of historic company records which demonstrated the extent of each directors’ involvement in the company.  We supplied extensive witness statements and secured the disclosure of financial and other company records relevant to the case.

A number of witnesses also gave evidence at trial. 

Winning and enforcing the claim

We secured a judgment at trial against their former co-director for half of the sum our client paid under the personal guarantees, together with interest and their legal costs. 

Subsequently we took enforcement action to recover payment and, despite the co-director’s limited means, successfully recovered the full sum for our client.

Former Director and Shareholder of Limited Company

The background to the situation was complicated, yet Verisona Law quickly grasped the essentials and prepared clear arguments with a minimum of wasted time and cost.

Throughout a worrying period, their calm approach allowed me to fulfil my group function with a restored confidence, having been distracted prior to Verisona Law’s appointment by the aggressive and unjustified stance of the Secretary of State.

I have no hesitation in recommending Verisona Law to anyone in a similar position.

Individual - Chairman of a group of companies in the construction industry

Testimonials

  • Client Testimonial

    Property Development Company

  • Client testimonial

    Defence Technology Company

  • Dealing with creditors’ demands for personal guarantee payments

    Former Director and Shareholder of Limited Company

  • The background to the situation was complicated, yet Verisona Law quickly grasped the essentials and prepared clear arguments with a minimum of wasted time and cost.

    Individual - Chairman of a group of companies in the construction industry


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