Property development, construction and finance
Our expert team acts for operators, developers, construction companies and lenders in the care sector, delivering a partner-led, cost-effective and knowledgeable service. We deal with all types of setting including residential and nursing homes, supported living, retirement villages and new developments.
Our expertise includes:
- Sales and Acquisitions
Whenever you are acquiring a care facility, it is essential to ensure you are buying a property with a good and marketable title. This means that the property is free from major title defects and will be suitable as security for your bank and will be able to sell the property to a buyer in the future.Likewise if you are looking at selling your care facility and associated property, we can undertake an initial review of the title to your property to anticipate any potential issues that may exist within the title to your property and seek to find a solution or remedy to this issue in advance of any sell. This will ultimately reduce the risk of increased costs or even a potentially failed sale.
- Lease agreements
If you are acquiring a lease of a care facility, it is essential that the lease terms are robust and fit for purpose. You need to ensure that the permitted use provisions enable you to operate your business as you intend now and possibly in the future and that any changes to the use or physical structure of the property can be made without any undue restriction by the landlord. If you are using the lease as security for any bank funding, your bank will require special provisions to be included in the lease to ensure the bank can also protect their interest in the lease.
- Developments of existing premises
If you wish to extend your existing premises, it is important that you get the title to your property reviewed before undertaking any works or incurring the cost of architects or other consultants. It is possibly that the title to your property contains covenants which restrict your extension plans and it is important that these are carefully considered before significant time and money is spent.If you are successful in securing planning permission for your proposed works, it may be necessary for you to enter into planning agreements such as a Section 106 Agreement with the planning authority and your bank and we can advise you through this process.If you are appointing an architect or other professionals to advise you on the proposed development, our specialist construction team can advise you on the terms of these appointments to ensure they are acceptable to a potential funder of the project and to any future purchaser.The appointment of a contractor for the development is an essential step and again our construction team can advise you on every aspect of the building contract and associated documents to ensure your position is protected throughout the project and following its completion.
- Retirement Villages
Our team has extensive experience of acting on retirement village developments for care operators, contractors, landowners, developers, tenants and funders. As a result we are able to advise you on site acquisitions, legal set up of the development and disposal of the units and ongoing management issues. These issues include advising retirement village operators on ‘event fees’ which continue to be the subject of much discussion in the sector. This work has enabled us to develop our internal processes to ensure contract documentation for the sales is issued very quickly and progressed efficiently throughout the transaction.
Case Studies – retirement villages
- Acting for English Care Villages on the set up documentation and apartment sales at Warwick Gates, Warwick and Tattenhall, Chester. These developments include 171 assisted living apartments and 48 close care apartments and two 36 bed nursing units.
- Acting for Care Village Group in connection with the site acquisition, construction procurement and retirement apartment sales and buy backs at their developments in Bath, Bristol, Gloucestershire and Kent.
Case Studies – financing and re-financing
- Acting for banks including Santander, NatWest and Bank of Ireland in connection with the finance and re-finance of healthcare developments including property security and construction procurement documents.
- Acting for various care home operators in connection with the construction procurement and financing of care developments or extensions in London and the South of England.