law
Birkett commented: “This is hugely significant for us. With small, growing, companies as tenants we need to be agile and flexible, so they can expand and move around the Science Park when they are ready to.”
Strong foundations at USSP
Paris Smith was first instructed by USSP in 1996. Malcolm Le Bas, managing partner at the time, together with Mark Howarth, head of Paris Smith’s commercial property department, and James Snaith, commercial property partner, successfully tendered for USSP’s commercial property work.
Birkett commented: “USSP had enjoyed a decade-long relationship with Paris Smith when I joined in 2007. One of the things I valued most when I arrived was the corporate experience that the firm brings. They have been involved in many of the key deals that underpin USSP’s success, and set precedents in their legal work that help us to expand our operations.”
Since those early days, Paris Smith has expanded the range of services to USSP to include company commercial work, IP advice, employment services, banking services and property dispute resolution.
Property expertise
The wide range of buildings on the Science Park includes single occupancy and shared premises, each undergoing regular refurbishment to keep it fit for modern high-technology entrepreneurial businesses.
In 2003, USSP took a long lease of immediately adjoining land to develop its Benham Campus. Four of the five plots on Benham Campus are now completed or under construction, including Promega’s new head office.
Mark Howarth and Tom Georgiou have led much of the work in this area. James McNeil, partner in the banking and finance department, was involved in negotiating a new mortgage on the Science Park to raise capital to fund further development.
One of the more complex property projects was re-purposing a laboratory building for multi-occupancy. The leasing arrangements were unusual, in particular, having to cover specialist regulatory compliance, as well as health and safety regulations.
“These leases were one of the bigger challenges we have faced, with lots of businesses carrying out different activities in the same building, but with no links to each other. We had to put in place a management regime
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that would meet regulations, but also be flexible and not so onerous that it stopped companies carrying out their business activities,” said Birkett. “Paris Smith worked closely with us and our property agent, Vail Williams, to achieve the best outcome.”
Pragmatism pays off
Another major contribution was the firm’s work negotiating with the local authority on updating Town & Country Planning Act rules on what types of activities can be carried out at USSP. Birkett said: “The substance of the agreement hadn’t changed since the Science Park was set up 30 years ago and needed to be updated to reflect today’s challenges in commercialising new technologies.
“Paris Smith really went the extra mile for us in the negotiations, putting forward our case and getting the local authority to feel confident that we will only allow the right types of companies to come here. The pragmatism shown by the team characterises the Paris Smith way.”
Unique contracts
USSP is a member of the UK Science Park Association and shares best practice with other parks. “Re- purposing our laboratory for multiple tenants was trail blazing. Other Association members visit us to see how we manage our labs, and are also interested in our contracts for high- speed fibre optic broadband. They want
to find out how we manage the complex legal aspects of shared services like these,” said Birkett.
Another interesting legal structure involves the Science Park’s nursery for the children of employees working for businesses based there. Paris Smith worked on the ownership structure of the land, the granting of a long lease by the University and a 20-year lease to the company that runs the nursery.
Teamwork all the way
Paris Smith has a team of four property lawyers supporting USSP and other lawyers in their IP, company, property litigation and banking teams.“Given the volume of work, we felt it was important to have a range of expertise available whenever it is needed,” said Georgiou.
He added: “For Paris Smith, the great aspect of our relationship is being part of the strategic side of the development of USSP for over 30 years. We feel close to Peter and his team, especially in our support for the entrepreneurial businesses on the Science Park.”
Birkett noted: “I always know I can call with any legal issues and they’ll direct me to the right person to talk to. Paris Smith is a local firm and knows the region. They are on site with us when we need them, and they understand our history. That’s very important to us as we look to support tomorrow’s innovative businesses.”
parissmith.co.uk
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