Tag Archives: Legal advice

News

Taylors Solicitors advises as Keenans expands with deal for Letting Locations

A north west estate and letting agent has expanded with a swoop for a Preston-based business.

Keenans Group has acquired Letting Locations for an undisclosed sum.

Letting Locations, which trades as Guildhall Residential Lettings, operates from Blackpool Road in Ashton-on-Ribble and has 350 properties under management.

Its managing director Robert Shields is being retained by Keenans on a consultancy basis following the deal.

Keenans is an independent, family-owned group which until now has focused on Greater Manchester and East Lancashire, with 10 branches covering 115 postcodes. It deals with over 2,500 sales and 400 lettings per year and employs nearly 100 staff.

Matthew Catterall, a corporate partner at north west law firm Taylors Solicitors, advised Keenans on the acquisition. Andrew Tabernacle of Bishops Chartered Accountants in Blackburn and Blackpool provided accounting and tax advice.

Matthew said: “We are extremely pleased to have provided legal advice to Keenans and help ensure its successful acquisition of Letting Locations. This transaction will enable Keenans to continue its impressive growth and extend its reach into West Lancashire.”

Paul Keenan, managing director of Keenans, said: “We are delighted to have completed the acquisition of Letting Locations as part of our geographical expansion in the north west.

“The business is a great fit with our current branch network and it expands our lettings management portfolio.

“The staff have tremendous experience and are passionate about the lettings industry. Their commitment to excellence for landlords and tenants alike aligns perfectly with our ethos, and we extend a warm welcome to them as part of the group.”

He added: “The advice from Matthew and Andrew throughout the process has been invaluable, and we look forward to working with them on future acquisitions as we continue towards our growth target.”

Law, News

Cater Leydon Millard Secures Place on Crown Commercial Service’s Public Sector Legal Services Framework

Cater Leydon Millard (CLM), a specialist employment law firm, part of the WorkNest group, has been named as a supplier on Crown Commercial Service’s (CCS) Public Sector Legal Services Framework (contract RM6240).

The new Public Sector Legal Services Framework will run from October 2022 to September 2026. This framework has been established to provide simple and compliant access to a range of legal services by Local and Regional Government, health, education, emergency services, third sector and social housing organisations.

CLM has been appointed for Lot 2a, Regional Service Provision – covering England and Wales. Their contracted specialism is employment law. CLM currently advises many health and education sector organisations, and its appointment to CCS’s Framework recognises its strong offering to the public sector.

Crown Commercial Service supports the public sector to achieve maximum commercial value when procuring common goods and services. In 2021/22, CCS helped the public sector to achieve commercial benefits equal to £2.8 billion – supporting world-class public services that offer best value for taxpayers.

Lisa Harris, Associate Director at CLM, says, “We are thrilled to be appointed again to this prestigious framework. Our selection further confirms our specialist expertise in employment law and our strong public sector credentials. The public sector is a key focus for our firm, and we look forward to continuing to work closely with our public sector clients and developing new relationships within the sector, providing practical employment law advice and solutions to their challenges.”

Law, News, North of England, Property

Taylors Solicitors advises CapitalStackers as development funding deals pass £150m

A team at north west law firm Taylors Solicitors has advised real estate lending platform CapitalStackers on its latest deal, taking it past a £150m funding milestone.

Stockport-based CapitalStackers has raised £540,000 for a development of nine detached executive homes in North Yorkshire, taking the total raised by the peer-to-peer crowd-funding specialist to £152m.

CapitalStackers provides funding for commercial and residential property building projects to borrowers who are a mix of investors and developers. Bank finance has accounted for £124m of the total raised, with CapitalStackers’ investors contributing the remaining £28m.

The latest deal sees CapitalStackers provide funding for a Glam Living scheme in Church Fenton. Glam Living specialises in developing in popular, rural Yorkshire locations where there is a shortage of elegant, bespoke houses in the £500,000 to £1m price range.

Steve Robson, managing director of CapitalStackers, said: “This milestone is particularly pleasing given it’s been achieved through very strong relationships with our senior funding partners and especially our investors, to whom I would like to pass on our sincere thanks.

“Our model comprises a blend of peer-to-peer and bank finance that allows small investors to get involved in the kind of property development funding that used to be the exclusive province of the banks, and enables banks to fund projects that would otherwise be beyond their scope.

“The latest deal for Glam Living is characteristic of our borrower profile – a company run by experienced developers who produce well-designed, well thought-out housing schemes that withstand rigorous risk modelling.

“We have always adhered to our key principle of never allowing a trowel to be lifted or a penny to be drawn down until all the funding is in place. Our model forms a robust and invaluable pillar to support the UK house-building industry. Many others have fallen by the wayside because they were unable to find fresh investment in times of crisis.”

Taylors Solicitors has advised CapitalStackers on every deal since the platform’s inception eight years ago.

Matthew Catterall, a corporate partner at Taylors, said: “Having worked with Steve and the team at CapitalStackers since 2014, we have built a fantastic working relationship that is based on a deep understanding of the business, allowing us to anticipate their needs and deliver streamlined, effective advice.

“Huge congratulations to Steve and the rest of the team on reaching this milestone, which demonstrates just how great the CapitalStackers product and team are.”

Of the £152m total now raised by CapitalStackers, nearly £43m has already been repaid to banks and over £15.7m to small investors at an average return of 12.91 per cent.

The remaining £12m is still earning for investors in construction projects across the UK. The lowest return received by CapitalStackers investors has been 6.9 per cent and the highest 24.97 per cent – with zero losses. The platform has 190 active investors and around 300 waiting in the wings.

News, North of England

Taylors Solicitors advises North West Roofing Supplies on swoop for B&M Henderson

A £30m-turnover supplier of roofing materials has expanded with the acquisition of a long-established business based in Burnley.

North West Roofing Supplies has acquired B&M Henderson for an undisclosed sum.

Family firm B&M Henderson was founded in the 1960s as a roofing contractor and switched to become a roofing merchants in the 1990s.

The £1.2m-turnover company supplies slates, tiles, battens, fascias, soffits, rainwater products, gutters, windows and doors to local roofing and building contractors.

North West Roofing Supplies has its headquarters in Kirkham, near Preston, and depots in Greater Manchester, St Helens, Morecambe, St Annes, Carlisle and Deeside. The company employs 58 staff and is owned by chief executive Steve Phillips and his wife Teresa.

A team at Taylors Solicitors advised North West Roofing Supplies on the acquisition. The Taylors team was led by corporate partner Matthew Catterall and included partner John Lomax, the firm’s head of commercial property.

Andrew Tabernacle of Bishops Chartered Accountants in Blackburn and Blackpool provided accounting and tax advice.

Matthew Catterall said: “We are delighted for Steve and the rest of the team at North West Roofing Supplies. This acquisition will enable them to continue their expansion and bring their excellent product offering to a wider market.”

B&M Henderson will eventually be integrated into North West Roofing Supplies. Mark Henderson, managing director of B&M Henderson, is staying on for a period.

North West Roofing Supplies, founded in 2001, supplies roofing materials and plastic and timber building products to contractors operating in new-build and refurbishment markets.

Steve Phillips said the company continues to seek further acquisitions in line with an ambitious expansion strategy.

He said: “B&M Henderson is an ideal fit for the business as we continue on our growth journey. It gives us a presence in East Lancashire and strengthens our position as a leading distributor of roofing materials in the region.”

Law, News, North of England

North East lockdown legal start-up celebrates centenary milestone

A start-up Independent Legal Advice business based in the North-East is celebrating reaching a centenary milestone this month, after receiving its 100th instruction.

Founded by North-East based solicitor, Joe Phelan, during the Coronavirus pandemic in late 2020, the legal start-up – Phelan Independent – has since been working with solicitors’ firms and commercial finance brokers across the country to offer their clients expert, fast and affordable independent legal advice on a range of matters.

With the pandemic acting as a catalyst for many businesses to embrace new ways of working, Phelan Independent seized the opportunity to disrupt the often slow, expensive, and cumbersome status quo by offering Independent Legal Advice, delivered by senior solicitors, via online platforms including Microsoft Teams and Whatsapp within 48 hours of instruction.

Receiving its 100th instruction is testament to the start-up’s ability to accelerate the turnaround times associated with multiple commercial transactions, where independent legal advice is required prior to individuals separately signing documents, such as personal guarantees or occupier waiver forms.

Joe Phelan explains the significance of the milestone, along with his plans for the future:

“Setting up a new business can be a tough decision at the best of times but pressing ahead with launching Phelan Independent during a global pandemic was certainly a daunting prospect. That said, having worked as a solicitor for many years I knew first-hand how hard it can be for clients to obtain high quality Independent Legal Advice quickly and affordably.

“Because the requirement for Independent Legal Advice typically only becomes evident shortly before deals are ready to complete, it’s common for transactions to become delayed, while separate representation is sourced, instructed and the advice provided. Keen to complete, clients are often forced to accept high fees and less than desirable turnaround times. I wanted to change all of that and, spurred on by the pandemic, set up Phelan Independent to meet increasing demand for remote provision of Independent Legal Advice delivered quickly and by a qualified solicitor.

Joe continues: “Growth has been steady since we established the company and we’re proud to now be securing repeat business with local, regional, and national law firms, as well as from members of the National Association of Commercial Finance Brokers; an organisation that represents just under 2000 brokers across the UK and which appointed Phelan Independent an associate patron last year. Reaching 100 instructions feels like a big achievement and one that we’re keen to build on in the coming months and years as we continue to serve as ‘deal enablers’ to law firms, brokers and clients alike.”