Meet BDB Pitmans at MIPIM 2023

Andrew is BDB Pitmans’ managing partner, having previously been head of the firm’s real estate group. He deals with a wide range of commercial property matters including acquisitions and disposals, investment, regeneration and development. He specialises in the real estate aspects of major infrastructure schemes, in particular those authorised under the Transport and Works Act Order (TWAO) and those by Development Consent Order (DCO) under the Planning Act 2008.

Andrew is chair for the Culture Mile Partnership which is in the process of creating a new business improvement district for the Culture Mile area of the City of London. He was previously Chair of the Victoria Westminster BID.

Q&A

How did you get in to RE law?

During my training contract (or Articles of Clerkship as they were in my day) I did effectively two seats in the property team and fortunately there was a position available when I qualified. I really enjoyed the tangible nature of property and in being at the heart of getting deals done.

What do you perceive as the greatest challenges facing the sector at present?

The general economic climate is obviously a significant challenge but having qualified in 1990 at the height of the recession and having been through a number of subsequent downturns I am confident that things will recover. The more lasting challenge is the environmental and climate change crisis. The whole industry will need to work together to help meet the carbon reduction targets that will need to be met.

How has the work you undertake for clients changed in the last 18 months? What is driving this change?

Everything changed from March 2020 when we first went into lockdown. The immediate switch to remote working meant a complete shift in how we all worked. The way that property transactions are carried through has not changed for years (the fact that the Law of Property Act 1925 still applies in many cases tells its own story!) but almost overnight the industry got used to virtual deal making, electronic signatures and the like.

What initiatives have you seen in the market that have got you excited?

As noted above the move to virtual working and deal making has been the biggest change in years and I can only see that moving further in the future.

What are you looking forward to at MIPIM?

I am just looking forward to being there again. Before the pandemic I had attended every year for over 10 years but this will be my first time back since 2019. It is always a highlight of the year, seeing old friends and acquaintances and meeting new contacts. Of course, it’s even better if the sun is shining!

David has over 35 years’ of experience in property law. He has advised on commercial, residential and leisure property including insolvency and investment portfolio work.

In his current role as a consultant, he connects clients and other contacts on new projects.

Career highlights include:

• acting for J. Sainsbury plc on various projects regarding out of town shopping centres where they were the anchor tenant;
• acting for a number of clients on the acquisition, management, and sale of shopping and office complexes nationwide, as investment properties; and
• acting since 1994 for an established owner and operator of various industrial estates in the South East of England including landlord and tenant management.

Q&A

How did I get into Real Estate Law?

I am of an age where to qualify as a Solicitor, you took Articles of Association, a two year work experience time, working in a solicitor’s office under a Principal, without any demarcation or Law Society guidance as to departments or breadth of experience. The firm to which I was articled was very much a West End property firm (maybe 70% of the work) and therefore nearly all my training was in the property sector touching briefly on corporate, litigation and family. My future direction of work was therefore very much moulded by those initial experiences. A very different world where my Principal was an ex England amateur footballer and avid opera buff and law was almost like a hobby!!

What do you perceive as the greatest challenges facing the sector at present?

I have lived and worked through two major property recessions in the early 1990’s and post Lehman in 2008 and with Interest Rates in 1992 approaching 15%, there is not a lot that the doomsayers advocate which particularly phases me. We work in a very cyclical business and post Covid and with the WFH ethos now firmly imbued in us, I see the importance of getting folk back into the offices as the biggest challenge. The return to centralised office work impacts so much on so many levels, from transport, through to retail and hospitality industries, and ultimately through to team morale, as we all get back to interfacing directly with colleagues and clients – all so important. There is a momentum going forwards but we need to keep encouraging that, otherwise the fall out in the property sector, particularly with retail and office voids will be obvious, and the consequent spin off on the investment market. I am stating the obvious but I do think it is the biggest challenge facing us

What initiatives have you seen in the market that have got you excited?

I’m not sure if I have seen any really stand out initiatives. What I do see is a deep desire to put the setbacks of Covid behind us and return to business as normal, with appropriate adjustments to reflect a changing market and appetite. The resilience of the property market never ceases to amaze and each change is part of another cycle.

What are you looking forward to at MIPIM?

For me, a few organised receptions aside. I love the spontaneity of Mipim, the setting up of base in some strategically located wine bar or coffee bar (usually on the Croisette) and then calling out to old friends or colleagues as they pass and having a catch up. I have now been going to Mipim for over 20 years, and having lived along the coast in the Var for ten years, I have many local Cannes based friends as well as many more friends in the Property industry. I see Mipim therefore as an opportunity to catch up briefly on all of these contacts and then the real work comes when I get back to the UK and I have follow up meetings and try and develop new opportunities. I love it and am in my element there!

Jonathan is head of real estate and has extensive experience of commercial real estate matters, advising corporates, partnerships and individuals on acquisitions, disposals, landlord and tenant work, property finance and development projects.

Commonly advising at board level and sitting on client property investment committees, Jonathan enjoys providing strategic advice on property investment matters and aims to assist clients in realising value from their real estate assets.

Career highlights include:

• acting for a private healthcare charity in the site acquisition construction of a hospital with an overall value of circa £25 million;
• acting for Clarion Housing Group on their King’s Cross leasehold premises to Google UK at a rent of over £1 million per annum; and
• acting for Royal Brompton and Harefield Hospitals Charity, Great Ormond Street Hospital Children’s Charity and Maudsley Charity on their property interests upon incorporation as independent charities.

Emma’s specialism is in providing real estate advice to UK and off-shore clients, regularly acting for high net worth individuals, family offices, trust funds and investors. Her expertise covers all elements of real estate investment from acquisition, through to portfolio management, refinancing and disposal.

She also has a great deal of experience advising both landlords and corporate occupiers on complex leasehold structures, with clients ranging from established multi-national healthcare providers, to tech start-ups.

Career highlights include:

• acting for a US-based international healthcare organisation in its acquisition of its London HQ leasehold premises with an annual rent of £1 million per annum over a 10 year term;
• responsible for the management of an investment portfolio exceeding 50 commercial units with a mix of office, creative space, retail and restaurants in North London and managing the £50 million refinance of the portfolio; and
• acting as part of lead supermarket’s site acquisitions team and lead legal advisor on numerous schemes in the south east of England.

Q&A

How did you get in to RE law?

My interest in real estate law began during my legal practice course at law school. I enjoy the tangible nature of real estate, but also being part of, an often fast paced, commercial undertaking. I also enjoy the variety of the work within the realm of  real estate and working alongside colleagues from corporate or planning to get deals to a timely conclusion.

What do you perceive as the greatest challenges facing the sector at present?

One of the greatest challenge is the “grey discount” of older and less sustainable buildings and ensuring investors are up to speed with the new energy efficient regulations that impact the real estate sector.

How has the work you undertake for clients changed in the last 18 months? What is driving this change?

Sustainability and ensuring the green credentials of buildings. The net-zero target by 2050 and in particular the Minimum Energy Efficiency Standards (MMES).

What initiatives have you seen in the market that have got you excited?

A change of the office space. Offices are still very much in demand in central London. However, the space is used differently with more of a focus on sustainability, well being, a reluctance to allocate desks and the automation of facilities and communication through apps.

What are you looking forward to at MIPIM?

The overall buzz  of MIPIM  this year as it will be the first fully attended conference since the pandemic. Relishing the opportunity to connect and reconnect with clients, friends in the sector and to listen to their insights into the current trends in the market.