A trainee's tale, Land Securities
When long-time Nabarro client Land Securities had a piece of land to sell, they came to us for help. What made it an out-of-the-ordinary assignment, for us and for trainee Rebecca Gill, was the size and location of the site…
Even for the UK’s largest commercial property company, this was something special: the sale for development of an entire one acre block, bang on Oxford Street, opposite Marks & Spencer. Having worked with Nabarro on many previous transactions, Land Securities instructed us to advise not just on the property issues, but also the tax structuring and corporate aspects of the deal. As the transaction continued to develop, Durham graduate Rebecca was in her final seat, with our Funds and Indirect Real Estate team. Initially, she was mainly involved in drafting many of the ancillary documents needed for a transaction of this size. But, as the pace picked up, her role widened. “During the last four weeks,” she recalls, “I was working almost exclusively on the transaction, liaising with other departments and with the other side’s solicitors, and helping to get everything in place in time for completion – all very much against the clock, with lots of stages that had to be in place by certain dates.” It was an intense period for Rebecca and her colleagues, but did she enjoy the experience? “Definitely. There’s a lot of adrenalin and pressure, but you’re part of a team and you know that people are there to back you up.”
The deal went through, with considerable fanfare, with Qatar-based real estate giant Barwa paying Land Securities £250 million for the site. Since then Rebecca has qualified, and, thanks in part to her efforts, the magnificent new Park House development has started to take shape. “It really made me focus on developing my organisation and planning skills, and on the importance of really focusing on the needs of clients. What I enjoyed most about it was working on such a high profile transaction, reading the press coverage on the way home from work – and now, walking past the site on Oxford Street, seeing something tangible that I was involved in.”
Rebecca Gill
