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Declan Power |
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Partner, Commercial property department |
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020
3465 4335 |
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Specialisms: |
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Commercial
property development; retail, offices, mixed
use, and industrial/distribution including
forward funding, forward purchases, joint venture
agreements, development agreements, rent sharing
leases, construction aspects and warranties,
rights of light, stopping up orders and planning |
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Commercial
property investment sales and purchases, including portfolio sales and purchases, sales and leasebacks and purchases of railports |
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Commercial
property asset management, including new lettings,
lease renewals and lease regearings |
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| Career: |
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Trained
at Hill Dickinson and qualified in 1989 |
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Assistant
Solicitor at Norton Rose 1989-1998 |
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Partner
at Maples Teesdale 1998 |
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Notable
transactions
and relevant
experience: |
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Acted
for City & West End on scheme in Savile Row, London
W1 comprising 40,000 sq ft of offices, retail
and residential development. Scheme involved
a development agreement with the freeholder
and a funding agreement with the Fund. Value of completed scheme around £40
million |
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Acted
for Fund on forward funding of a retail warehousing
scheme in Tunbridge Wells owned by a joint
venture developer. The property was pre-let to four tenants
and the deal was completed within 2 weeks with
the fund committing around £55 million
to the project |
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Acted
for Fund on a joint venture with a developer
which acquired for around £13 million
a development site in Maddox Street, London
W1. The joint venture team obtained planning
consent, developed, let and sold the 70,000 sq. ft mixed use
scheme on the site comprising mainly offices
with ground floor level retail and adjoining
residential |
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Acted for bank on the financing of a £20 million scheme with developer on a residential scheme in Tower Hamlets, including social housing. The project had a complicated legal structure including a Development Agreement between the developer and the Housing Association which owned the land, a Section 106 Agreement, agreements with Network Rail and London Borough of Tower Hamlets as adjoining land owner, Housing Association regulatory consents, and the loan documentation itself. Security had to be taken over all of the project development and construction documentation, including warranties from the construction team, and over the land interests. The scheme has been built and will delivered around 100 high quality private residential units together with much needed social housing accommodation and a doctor’s surgery |
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Acted for Legal & General on purchase of Tesco distribution unit development and adjacent railport operation from Stobart for around £60 million |
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Acting for various developers on negotiation of development management agreements with property owners including sharing of development profit |
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Acted for investor on purchase and leaseback to owner/operator of two regional distribution units for circa £20 million |
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| Education: |
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Baines
School, Blackpool, Lancashire |
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Leicester
University – LLB Law with French (including
1 year spent at Strasbourg University) |
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College
of Law, Guildford |
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Membership
of
Professional/
Academic Bodies: |
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The
British Council for Offices |
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