focus on oxford 35 A reputation for property solutions
With a 'can do' attitude and a reputation for providing fast and effective solutions, Henmans’ commercial property and real estate team delivers expert advice on anything from negotiating complex leasehold and freehold agreements for commercial property, through to planning and environmental issues
Acknowledged as the largest dedicated property department in Oxford’s legal arena, its team is split into three areas – commercial property, agriculture and residential – handling a wide range of property-related issues for businesses, individuals and charities throughout England and Wales.
On the commercial side, the team already acts for two of the Thames Valley’s top 10 companies and has its fair share of blue-chip names across key sectors such as education, transport, biotech, food manufacturing, distribution and charity.
Commercial property partners Adrian White and Patrick Whetter say that the team’s decisive and commercial approach to property transactions, coupled with the support of multi-disciplinary lawyers under one roof, ensures a swift response for clients, whatever the problem.
“We offer a seamless service which is really helped by the fact we now work in an open plan environment,” said White. “We have experts in a variety of areas and not many practices can offer so much expertise in one place.
“It means we can handle very complex work, such as property litigation, commercial disputes and issues with planning applications from within our department, ensuring clients get the best results without having to go elsewhere. Our specialisms help to set us apart from others.”
An ability to be flexible in today’s cost- conscious environment is also important, so Henmans has developed a two-tier solution for commercial property clients. A “light touch”
package is ideally suited to small start-ups requiring relatively simple tenancy agreements and investigation exercises at a low cost. A more in-depth package, which is a partner-led service, is on the other end of the scale.
“We enjoy acting for young and start-up tenant businesses. We see many of these young companies grow into successful organisations and it is satisfying knowing that we have been there to support them from day one,” said Whetter.
He works mainly with commercial landlords on the acquisition, disposal and management of property portfolios across the country and also acts for institutional clients on the tenant side.
Although the freehold market is generally quiet due to the lack of confidence and funding, he says he has seen more freehold transactions hitting his desk in the first half of 2012 than he has done for a couple of years. This is something he puts down to the very close links with the local agents and other intermediaries, and the team’s profile in the region.
“We are very fortunate in that we have a number of cash-rich clients, who are looking to invest. They are in a good position to cherry pick properties at good value right now,” he said.
On the commercial leasehold front, he describes the landlord and tenant market as “buoyant”, with tenant businesses looking to drive a hard bargain when negotiating a lease.
“Currently, tenants are choosing to extend or restructure a lease, especially if there is a break on the horizon, and that’s where we can provide timely advice and support,” he said.
“I’m also increasingly a sounding board for landlords looking for advice on their options where their tenants are in financial difficulties. These are difficult times for many landlords and tenants and the reality is that they are partly reliant on the other. For landlords, it is often better to have a tenant paying late or at a reduced rate rather than to have an empty building, so it’s all about looking at other options and finding solutions. That isn’t something we saw five years ago and is an indication of where the market is right now.”
Whetter believes that there are opportunities in every downturn, and is pleased to be able to say that at a time when the size of the region’s commercial property market has decreased, Henmans has increased its share of the market.
“We have made it our business to develop fantastic relationships with the banks, accountants, agents and other professionals involved in the commercial property sector,” he said. “They respect our expertise and abilities and they have helped us compete and build our reputation.”
White is a member of the Law Society’s Planning Accreditation Scheme, a legal member of the Royal Town Planning Institute and the UK Environmental Law Association, specialising in property development work, especially planning, construction and environmental issues.
And, with major expertise in brownfield developments, he regularly undertakes environmental due diligence work, while a diploma in archaeology gives him a head start when it comes to understanding conservation and heritage issues.
Recent deals have included acting for landowners and residential/commercial developers on sites under promotion agreements, and various options and conditional contracts with values ranging from £2 million to £100m. Construction projects have included some major developments for publishing companies, language schools, educational trusts and logistics companies.
Details:
Adrian White
adrian.white@henmansllp.co.uk 01865-781151
Patrick Whetter
patrick.whetter@henmansllp.co.uk 01865-781145
Henmans LLP 01865-781000
www.henmansllp.co.uk
Patrick Whetter and Adrian White THE BUSINESS MAGAZINE – THAMES VALLEY – JUNE 2012
www.businessmag.co.uk
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