Our Clients

Case Studies

Waitrose retail store in Glasgow

A listed plc Developer has instructed us in the land acquisition and development of a Waitrose retail store in Glasgow.

This involved agreeing a complicated development lease with a local sports club with attendant option and security interests and replacement pitch provisions, in conjunction with the grant of an Agreement for Lease with Waitrose. The sports club wished to retain short to medium term income so we were tasked with producing a lease which provided income certainty to the sports club but at the same time provided a suitable platform not only for the Developer to finance the construction of  the Development, but also have the ability to convert the lease to a freehold interest at a later stage to maximise the investment value.

The Property Director commented that:

“this was a complicated deal all round due to the number of parties and conditions involved and the real trick was to make the documentation as straight forward as possible which was achieved”.


Recent Deals

  • Acting on behalf of a private investor established in the restaurant business, we dealt with the Scottish property aspects of the acquisition of the business of The Handmade Burger Company, securing the future of 20 restaurants and safeguarding 530 jobs.  We were required to co-ordinate with our English counterparts and the administrators’ solicitors in order to ensure the deal was successfully completed within an extremely tight timescale.
  • We acted for a subsidiary of Leeds-based leading property investment and development company Town Centre Securities plc in the sale of Empire House, a mixed-use investment in Glasgow city centre, for £17.5M.
  • We acted at the Scottish end of a portfolio purchase and leaseback transaction by London-based private investors involving more than 40 properties in total for an overall consideration in excess of £30M with a strict vendor-imposed timetable for completing due diligence and exchanging.
  • Acting on behalf of overseas investors we purchased a portfolio of 60-plus residential properties in the Scottish Borders under tight time restraints.
  • Acting on behalf of private Manchester-based clients, we dealt with the sale of a government-let office investment at Gyle Square Edinburgh at a price of £48.3M.
  • We represent Tapi Carpets and Floors in the rollout of their Scottish store-opening programme.
  • On behalf of retained clients, Q-Park, we acquired a long lease of the 990-space multi-storey car park at the Omni, Edinburgh.  After an initial 2-year concessionary period the annual rent will be in excess of £1M per annum subject to annual reviews with collar/cap.
  • Acting on behalf of Bridges Ventures we advised on the Scottish property aspects of a UK-wide acquisition of 50 business centres with a total value of £84M.  This complex transaction involved in excess of 2000 business tenants operating out of a variety of properties across the country.
  • Continue to act for Town Centre Securities PLC in the management of their significant Scottish property portfolio.
  • We represented a BVI company in its acquisition of a £40M multi-let investment property portfolio substantially let to the Royal Bank of Scotland, conducting all related property and banking work.
  • We handled an inter-group re-organisation for offshore clients with associated refinancing and a subsequent securitisation-based refinancing, involving a portfolio of UK office buildings worth in excess of £200M including four office developments in Edinburgh and Aberdeen valued alone at more than £130M.
  • On behalf of News International, publishers of the Times and the Sun, we acquired a development site at Eurocentral, Lanarkshire, for their state-of–the-art printing press.
  • We acted on behalf of Helical Bar plc and its Joint Venture Partner in the sale (via a disposal of the shares in the offshore holding company) of the long leasehold interest in Clyde Shopping Centre, Clydebank, valued at around £70M.  The Centre comprises approximately 120 shops, 6 anchor stores, cafes, a multiplex cinema and 1700 parking spaces.