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Marketplace ‘healthy’ reports Napthens’ £135m property team
The Commercial Property team at regional law firm Napthens has been involved in more than £135million of transactions in the last six months.
The announcement comes as the team reports that the marketplace is active with transactions taking place regularly including sales and acquisitions, leases, bank-refinancing and development site set-ups.
James Allison, head of Real Estate at Napthens, also reports that looking ahead, activity levels show there are no immediate signs of slowing down although Brexit has planted uncertainty in planning for future development and transactions.
James said: “Since the start of the financial year, our Commercial Property team has transacted more than £135million worth of deals, which is no small feat but also strong evidence that the marketplace is lively and local business is continuing despite any perceived political uncertainty with Brexit.
“We are seeing a lot of work coming through on the higher-value property investment market and both Lancashire and Cumbria are busy for different reasons.
“In Cumbria in particular, we are seeing activity driven by the leisure and tourism market, for example, with buying, selling and refurbishing of destination venues by leisure operators.
“Across both Lancashire and Cumbria, the team is busy on development site set-ups as new builds roll out and are quickly sold, with particular hotspots of activity on the Fylde Coast, central Lancashire and South Lakes.”
The work of the Commercial Property team was recently highlighted in the legal industry ‘bible’ the Legal 500. It was praised for its depth of expertise and ‘first-class’ service across a range of commercial property mandates, with particular expertise in the leisure sector.
Some of Napthens’ recent commercial property transactions include advising on the acquisition of the Peel Hall Business Village near Blackpool by MCS Properties; and the sale of the historic Lesketh How property in Ambleside, Cumbria to Russell Armer Limited.