Property Tax Team secured key retail acquisition for client Focus Estate Fund
The Property Tax Team recently advised a key acquisition by a large LB Property Tax client: Focus Estate Fund, who are leading €200m European Investment Fund for their purchase of the Kingdom Shopping Centre, in Scotland home to large retail tenants such as Costa, Asda, Superdrug and Iceland, for £6million.
The acquisition is part of an extensive and growing portfolio by Focus Estate Fund within the UK retail market, whom LB Group continue to offer their client expert and specialist property tax support.
Utilising their expertise within Tax Due Diligence and Contract Warranty Drafting, Tom Butterworth and his team at LB Group worked alongside leading real estate firm Knight Frank, commercial estate brokers Cushman & Wakefield and Scotland’s leading law firm Brodies LLP, to secure the deal.
Tom Butterworth, Associate Director, Property Tax team, commented:
“This most recent transaction with the Focus Estate Fund demonstrates the high-level specialist property tax advice we at LB Group can all utilise to benefit our clients both large and small and the continuing demand for specialist property tax advisory services not only in our region, the UK but also internationally.
“LB Group have built a solid reputation throughout the UK and with international firms on delivering safe and robust UK property tax advice. With a big thanks to our own Martin Quinton and the wider LB Group team who supported on this. None of this is possible without the input of the whole of LB Group at all levels and in all service lines.
“This acquisition support has also led to the securing of £25,000 a year in compliance fees to support the Focus Estate Fund team in the ongoing management, accounting and tax compliance affairs in respect of this UK property acquisition. We hope it will lead to future value for our corporate finance colleagues on transactional due diligence and investment exit planning too.
“Thank you to all of the LB Group teams for your support in delivering a top-quality service to what is a key client for us.”
Link to news story here.
If any of our other LB/RE/Dyer clients can benefit from exploring the Risks and Opportunities in the UK Property Tax sector please reach out to Tom and Martin on Teams. We would be delighted to discuss your clients and their needs with you in respect of specific transactions, ownership structuring and short, medium or long term business plans.