Thomson Snell & Passmore advise the Chatham Maritime Trust

The Chatham Maritime Trust (‘CMT’) manages the Chatham Maritime Estate (‘the Estate’), one of the largest urban regeneration schemes in the country, for the benefit of the residents and businesses there.

The commercial property team advise on an Agricultural Holdings Act

Thomson Snell & Passmore were instructed via land agents to help resolve an issue with the surrender part of an Agricultural Holdings Act 1986 (AHA) tenancy agreement of land in an estate, and a sub-tenancy (FBT) under the Agricultural Tenancies Act 1995.

Brexit uncertainty brings extra considerations for commercial property deal

The commercial property team at Thomson Snell & Passmore has recently assisted a young farming couple with a move from one county to East Sussex.

Thomson Snell & Passmore advise on complex 70 acre farm

Thomson Snell & Passmore represent substantial farming partnership

We have since advised the partnership in the purchase of a large part of an estate adjacent to its existing farms over which the partnership had old and new tenancy agreements

The commercial property team advise on family trust

Thomson Snell & Passmore recently acted for a family trust in connection with the renegotiation of an earlier option and the conversion to a conditional contract.

Thomson Snell & Passmore advise on windfarm lease agreement

Thomsons Snell & Passmore are acting for a client in granting an option for lease over a wind farm on the client’s farmland.

Thomson Snell & Passmore advise on difficult promotion agreement

Thomson Snell & Passmore advised a landowner in connection with a long term promotion agreement which was exchanged in 2015 but which ran into difficulty.

The commercial property team, acted for a large educational institution in connection with a £15m sale of surplus land to a national housebuilder.

A complex transaction for many reasons.

Thomson Snell & Passmore acted for a family business in connection with a £13m sale of a large industrial warehouse to a nationwide housebuilder.

The sale was structured as a sale and lease back and certain commercial space was leased back to the seller by the housebuilder.

Thomson Snell & Passmore advise on complex commercial property deal

The transaction involved four sites to create a large mixed used development consisting of open market housing, affordable housing, retail and office space.

Thomson Snell & Passmore were recently instructed to act for a lender in connection with a loan of £24,000,000 to be with a gross development value of £43,000,000

The loan facility was being provided to a reputable developer in order to refinance an existing site and create a mixed use scheme of 239 residential homes and office space.

When time is of the essence!

The real estate finance team at Thomson Snell & Passmore led by Laura Keatley recently completed a loan facility from start to finish in just four days.

Acting for longstanding client motor trade dealer group

Thomson Snell & Passmore has acted for the Motorline Group, a long-standing client of the firm in respect of its recent acquisitions of various dealerships across the South East, South West and the Midlands. 

Securing the wealth of the next generation of a Kent farming family

Gilbert Green leads a multi-disciplinary team which has provided advice to a leading farming family on the sale of land for development, the purchase of new land and the efficient structuring of their existing holdings.

Sale of treasured family farm

Penelope Edgar acted on the sale of three lots of former agricultural land. The sale was both complex and sensitive as the family had grown up on the land and were sad to lose it.

TSP completes sale of a mobile telephone retail franchise

Thomson Snell & Passmore has recently advised a seller on the sale of his mobile phone retail business.

Baumit's expansion into the UK

Leading South East law firm Thomson Snell & Passmore LLP advised Austrian company Baumit on its expansion into the UK, which involved the leasehold acquisition of a 30,000sq ft industrial building in Aylesford by a subsidiary company and the creation of 25 jobs.

Acting for a bespoke property finance firm

We act for a bespoke property finance firm lending mezzanine funding to established developers both locally and nationally.  Our client provides funds to developers by making loans or by entering into joint venture arrangements.

Advising a leading European bank

Advising a leading European bank in respect of a new loan facility of circa £10 million to be secured over a portfolio of 89 residential investment properties. 

Appointed to the panel of Titlestone Property Lending Limited

In November 2013 we were appointed to the panel of Titlestone Property Lending Limited.

Appointed to the panel of Close Property Finance Limited

In September 2013, we were appointed to the panel of Close Property Finance Limited

Advising a leading investment bank

Advising a leading investment bank in respect of a loan facility of £5 million to assist with the acquisition and permitted development conversion of redundant office space to residential flats in Yorkshire.

Advising a leading property finance lender

Advising a leading property finance lender in respect of a loan facility of £21 million to assist a well known developer acquire six connected properties for potential redevelopment for a sum of £30 million.

Advising North Kent Community Church

Advising North Kent Community Church (now known as Eastgate Church) in connection with the development and financing of a new place of worship and community facility as part of a residential development in the Thames Gateway in Kent.

Advising a national charity

Advising a national charity which supports adults who have suffered abuse in childhood.

Advising Pancreatic Cancer UK

Advising Pancreatic Cancer UK, a national cancer charity who that required property advice in quick succession with the taking of two a new short term leases within their its head office building and the grant of a further licence for alterations within their offices. 

Helping a client to incorporate solar into their farm

Our client, the farmer, was looking to make two key changes to his farm. He wanted to build over part of the land to create a solar farm and sell off another part of the farm for development.

Helping a farming company negotiate a disposal of land to a national housebuilder

Our client, a family farming company, owned land on the edge of a town earmarked for possible expansion.  We were called in by the company’s land agents to advise on terms proposed by a national housebuilder for an option to acquire the land, involving long term promotion through the plan process.  

Helping a trust to sell their farmland to a house builder for ongoing return

Our client, a family trust, needed to sell their farmland as a way to generate much needed income for the beneficiaries. We helped the trust to negotiate the sale of former farmland to a national house builder for residential development.

Helping a trust to prepare their agriculture land for residential development and secure a sale

This client story involves one of our longstanding clients; a Trust of which Gilbert Green is a Trustee.  Our client was able to gain from our knowledge of them, the site and our experience in negotiating planning agreements and dealing with national house builders.

Promoting farm land to national house builder

We acted for two farming families with adjoining holdings in the negotiation and exchange of a long term option to a national house builder to promote the joint site for residential development.

A developer wanting to promote land for a large residential development

An elderly couple and their company, were approached by a developer wanting to promote their land for a large residential development.

Acting for Eastgate Church

Our commercial property team were delighted to act for Eastgate Church on its relocation to a new site in Springhead Parkway in the Ebbsfleet Valley. Springhead Park is a joint venture development by Countryside Properties and Land Securities.  

Young couple taking over the farming family business

We have recently helped a young couple who have taken over the farming business set up many years ago by the husband’s family in East Sussex.

Acting for growing restaurant chain, Sticks’ n ‘ Sushi

Since January 2015 our commercial property team, (with input from our construction team), have been acting for restaurant chain, Sticks’ n’ Sushi UK Limited (SnS). SnS have a strong base of 9 restaurants in Denmark, and are moving steadily into the UK lucrative but highly competitive restaurant market.

Sale of mineral operations

We acted for a long established mining company in the sale to another mining company of an option to take a mineral lease of land with the benefit of planning consent to extract sand and gravel.

Relocation to one of the UK’s first BREEAM Excellent rated buildings

Leading South East law firm Thomson Snell & Passmore LLP advised Designplan Lighting Limited on its relocation of its UK HQ facility within Kimpton Industrial Estate, Sutton.

Acting for companies based in Guernsey

Thomson Snell & Passmore are instructed on an ongoing basis to act for several companies based in Guernsey.

FOSFA Dispute

James Cradick acted on behalf of a leading German manufacturer and processor of sunflower seed oil in a dispute with one of the worlds largest commodity traders. The client’s were purchasers.

Thomson Snell & Passmore’s, Penelope Edgar, achieves her ALA Fellowship

Leading South East Law firm, Thomson Snell & Passmore, is pleased to announce that Senior Associate, Penelope Edgar, has achieved her certificate to become part of the Agricultural Law Association (ALA) Fellowship. To date, there are 144 ALA Fellows, and further to Penelope’s recent addition, there are only four other Fellows based in the Kent and Sussex area.  

Changes for landlords

Joanne Wright and Nicole Priestley from our commercial property answer some questions on new legislation and changes for commercial property owners and tenants

Motorline takes over Hyundai digital stores

Leading South East law firm, Thomson Snell & Passmore, have assisted the Motorline Group in taking over the full operation of the Hyundai digital stores in Bluewater and Westfield Stratford from Rockar. Motorline have also taken over the Hyundai Aftersales Centre in Dartford.

Restrictive covenants – development considerations

Delays in the planning process are often cited as a hindrance to development. However, people tend to be less aware of the problems, cost and delays that can be caused by often outdated historic restrictive covenants affecting land. The government desires increased housebuilding on brownfield sites, and Sadiq Khan recently announced that thousands of homes will be built on small sites across London, including gardens and end-of-terrace plots.

FAQ: Frequently asked questions from across the practice

Every month we answer frequently asked questions from across the practice and bring them together to help bring clarity to your legal needs. Each of the sections below lead off to a more comprehensive bank of information.

Alisa Sweeney works with Sticks ‘n’ Sushi to secure Nova Victoria Site

Alisa Sweeney from the Commercial Property Team have been delighted to work with restaurant operator, Sticks ‘n’ Sushi, to secure a new site at London’s prestigious Nova Victoria.

Payment Schedules – beware of overruns, they could ruin your (financial) health

In any construction project, payment will be one of the most important aspects (for some the most important) whether you are the one paying or being paid. The consequences getting the amount or the timing wrong, or not providing for delays to completion of the project in terms of agreed payment schedules, can have a very serious and expensive effect

Electronic signatures – the final flourish of the fountain pen?

The question that is increasingly being asked in a digital age where documents are emailed between parties is whether electronic signatures can be used or do we still need that pen to provide a “wet ink” signature on a paper copy of the document?

Three panel wins for Thomson Snell & Passmore’s enterprising property practice

Leading South East law firm, Thomson Snell & Passmore, is pleased to announce that their Commercial Property team has been appointed to three significant panels, Commercial Acceptances Limited – part of the Close Brothers Group; Charity Bank – the ethical bank that lends to charities and social enterprises and Paratus AMC Ltd a specialist lender in the buy to let market.

Electronic Communications Code

The Electronic Communications Code regulates the relationship between landowners and network operators in relation to the installation and maintenance of telecoms infrastructure. The Code came into force in 1984 and over the years it has slowly evolved, but it has not kept pace with developments in technology. It has been decided that the Code needs an overhaul and the Digital Economy Act 2017 contains a new version of the Code, which should be brought into force by statutory instrument later this year. The new Code is not retrospective and will only govern new telecommunication equipment agreements entered into after it comes into force.

Commercial Property Team of the Year 2017 from Solicitors Journal

Thomsons Snell & Passmore are proud to announce that we have been awarded Commercial Property Team of the Year for 2017.

Rent Concession Side Letters Come Under The Spotlight

The recent High Court case of Vivienne Westwood Limited v Conduit Street Developments Limited has highlighted care should be taken when entering into rent concession side letters.

Consumer Code for Home Builders (4th edition)

The fourth edition of the Consumer Code for Home Builders (the Code) came into effect for reservations signed on or after 1 April 2017.

Affordable Workspace

The Greater London Authority and some London boroughs are considering implementing an “Affordable Workspace” policy. This is similar to affordable housing policies, where developments will need to provide a certain amount of workspace for small businesses, particularly focussed on creative industries and start-ups. The aim is to increase economic diversity and foster innovation.

Planning law: shifting foundations

As the government accelerates planning reforms, solicitors are tailoring their services to accommodate what are often contentious changes.

Selling or letting property – a warning against misrepresentation

Selling or letting property – a warning against misrepresentation

Farm inspection visits

Farm inspection visits

The wider benefits of warehouse developments

Proposals for large scale warehouse developments in the UK continue to attract interest from developers and third party tenant occupiers, with recent commercial property surveyors’ industrial sector reports showing that there is increasing demand for warehousing floor space across the UK.

Revaluation of business rates from 1 April 2017

Revaluation of business rates from 1 April 2017 - its impact on landlords and their liability to pay statutory compensation on termination of a business tenancy

UK fracking go-ahead boosts shale gas industry

Sarah Easton, Partner from our Commercial Property & Development team speaks to the Financial Times about the recent gas industry victory after the government overturned local council objections to a fracking scheme in Lancashire, which in turn clears the way for the first exploration since an earthquake halted drilling five years ago.

Brexit: what are the implications?

When the news broke about Brexit on 24th June 2016, our expert lawyers each wrote a round up of the implications that could potentially you and your business.

South East local business community discusses importance of infrastructure for the region

Local South East business leaders recently debated the critical role transport infrastructure plays in unlocking the potential of Thames Gateway and the wider South East region.

Brexit: House builders insist property 'remains a great investment' as share prices continue to fall

Laura Keatley, senior associate from our commercial property team speaks to Kent Business and comments on whether property is still a great investment as share prices continue to fall as a result of Brexit.

Brexit - there is a great deal to think about

Senior Partner, James Partridge speaks to the Times of Tunbridge Wells and describes the impact that the Leave vote will have on businesses and looks at five key areas including commercial contracts, dispute resolution, employment, commercial property and data protection.  

Brexit - what are the implications?

Following the much awaited UK referendum outcome, we have been thinking about what a Leave vote could mean and, set out below, are articles with our first thoughts.

Brexit - Commercial Property

We finally know the result of the Brexit referendum but what does that mean for the UK real estate market. 

FAQ: Commerical Property

Q. I have a lease of a flat that now has less than 70 years left to run.  I have read that I might have trouble selling or getting a mortgage.  Can I extend my lease?

The legal week in 60 seconds

The Solicitors Journal reports on Thomson Snell & Passmore's recent significant promotions within the firm.

A right to light

A right to light can be described as a right to enjoy the natural light that passes over someone else’s land, and into a building through openings such as windows, skylights or glass roofs. If you are reading this inside with the benefit of natural light, your building may benefit from a right to light. Consider whether you would have the same light if your neighbour built an extension, redeveloped their land into a housing estate or if a skyscraper was built down the road?

Sign at your own risk!

Warnings have been issued for Monday as February provides us with an extra day this leap year. Signing contracts or completing property transactions which refer to anniversaries of the date of agreement, could leave you waiting for a very long time.

Thomson Snell & Passmore acts for Mortgages for Businesses on move to offices at Kings Hill

Commercial Property Team advised independent mortgage broker, Mortgages for Business, in connection with its move to Kings Hill at West Malling.

Fracking

Fracking is much talked about but is it the answer to the future for energy production?

Fracking

Fracking is much talked about but is it the answer to the future for energy production?

Closure in the UK food and beverage sector and the impact on commercial property

The food and beverage sector has often been viewed as the darling of the retail property world but now the director of the Local Data Company, Matthew Hopkinson, has voiced concerns that the growth in this sector in the UK is unsustainable and huge closures are to be expected in the restaurant field in the next 15 months.

Thomson Snell & Passmore completes sale of shares in industrial tyre business

Thomson Snell & Passmore’s corporate team has advised new clients in connection with the sale of their family business for an undisclosed sum to a US buyer.

An Expert's View

Richard Ellard from our Comercial Property team speaks to Times of Tunbridge Wells about the changes to rules relating to permitted development rights and how they have had significant impact on towns across the southeast.

Are you a heat supplier?

If you are a building owner or landlord of a commercial or residential multi let building you may be affected by the Heat Network (Metering and Billing) Regulations 2014.

Mean what you say – the Supreme Court case of Arnold v Britton

Contractual disputes often involve a disagreement about what the parties intended to say and whether the contract reflects that intention. The Supreme Court decision in Arnold v Britton provides a reminder that the courts will not necessarily step in and allow commercial common sense to prevail over the language in the contract.

Greenbelt protection

The Government has been concerned with the harm caused to the green belt by unauthorised development; apart from the damage caused, it can result in time consuming and expensive enforcement action. 

Home businesses encouraged

For over sixty years the Landlord and Tenant Act 1954 has provided certain business tenants with security by giving them the right to a new lease once the original lease comes to an end. 

Landlord obligations

Landlords renting out residential properties are facing challenges as a result of new legislation being introduced on a number of fronts. Here are a few of the changes coming your way.

Debate could become frack-tious

This time last year we reported on the impact of the forthcoming General Election on fracking (hydraulic extaction of shale oil and gas), and the impact on landowners’ rights. One year on, the government’s commitment to the fracking industry is clear.

Business rates when occupying more than one floor in a building

A decision of the Supreme Court at the end of July, Woolway (Valuation Officer) v Mazars LLP [2015] UKSC 53 has potentially altered the way that business rates will be applied to the occupation of multiple floors in a building.

Changes in planning law for small rural developments

Following a High Court ruling on 31 July 2015, the planning policy guidance exempting small developments from affordable housing contributions and introducing a vacant building credit has been immediately removed.

Law firm says its growth is organic

Local newspaper, Kentish Gazette (Canterbury) shares and insight into our organic growth. First published July 2015.

Agricultural property relief (APR) Q&A

Each month solicitors Thomson Snell & Passmore will be answering frequently asked questions from across the practice. This month, it is Helen Stewart, Partner and Head of Probate, has answered two common issues surrounding agricultural property relief (APR).

Paramount resort could leave firms kicked out

Companies without strict freehold or lease agreements on land earmarked for the Paramount resort face being booted off their premises without compensation.

Best Lawyer award

We are delighted that Partners Simon Brown and Gilbert Green have been selected by their peers for inclusion in the forth edition of Best Lawyers in the United Kingdom ®.

Minimum Energy Efficiency Standards (“MEES”) – Guidance Issued

The Government has recently published its long awaited guidance (“the Guidance”) on how the Minimum Energy Efficiency Standards Regulations (“the Regulations”) are expected to operate for non-domestic private rental properties when they come into force in 2018.  

The future of the Green Belt

The Green Belt is an emotive issue. Its proponents and opponents hold deeply entrenched views as to its purpose and future.

An exciting new company launches in Kent: Mexxa Mixx

These case studies were serialised in the Kent and Sussex Courier, but are collated together in this case to show all of the different stages a company can go through and how we can assist. MexxaMixx is a ficticious Kent-based business which manufactures and sells a range of Mexican style cooking sauces.

Could your house be a film star?

Demand for unusual homes with extraordinary or original features for location filming is increasing. Could your Kent house be a film star?

Ask the Experts: The owners have disappeared

There’s a small strip of land on our road that doesn’t appear to belong to anyone. The Land Registry said it wasn’t registered to any property and the council doesn’t know who owns it. I’ve been tending the area so it looks nice and now I’d like to buy it. How can I find out if there is an owner? And if I can’t buy it, could I claim it?

Thomson Snell & Passmore boosts their Commercial Group with three hires

Leading South East law firm Thomson Snell & Passmore welcomes three new lawyers to their Commercial Group, including a noteworthy partner lateral hire, Alisa Sweeney who joins from Cripps LLP in the Commercial Property team.

Thomson Snell & Passmore advises Fairhurst Ward Abbotts on its new HQ

Leading South East law firm Thomson Snell & Passmore has advised Fairhurst Ward Abbotts Limited on its freehold acquisition of a new headquarters located within the Thames Gateway.

Thomson Snell & Passmore advises True Telecom on its new Dartford HQ

Leading South East law firm Thomson Snell & Passmore has advised rapidly expanding broadband, mobile and telecom services company True Telecom Limited on its acquisition of a new headquarters on Crossways Business Park, Dartford.

Ebbsfleet Garden City

Earlier this year the Government announced a period of consultation concerning Ebbsfleet Garden City. The proposals include the creation of a statutory body – the Ebbsfleet Development Corporation (“EDC”) which it is hoped will coordinate investment and development in the area.

Fracking is an emotive subject

In order to protect the UK’s energy resources , coal, gas and oil (which include shale gas) belong to the Crown and may only be extracted under licence from the Government.

We consider whether deregulating the planning system will undermine localism

26 September 2014 was the closing date for consultation on proposals further to deregulate our planning system.

To be green or not to be green?

We can all be forgiven for thinking that Town or Village Greens should be just that – green. That is not always the case as recent decisions show.

Should I be worried about a forfeiture clause in my lease?

A forfeiture clause allows a landlord to take back a property from its tenant if the tenant has failed to comply with the lease terms, or experiences financial difficulty (for example insolvency or bankruptcy).

My tenant has left but the property is still full of his belongings – what can I do?

When a lease ends, whether by expiry or because of forfeiture or insolvency, the tenant should remove all it’s belongings but often this does not happen.

How should sustainable development be interpreted?

Developers face many challenges when hoping to develop previously unbuilt upon land. The views of the local community, the protection of wildlife and the impact on existing infrastructure amongst many others have to be considered.

Capital allowances – are you missing out on valuable tax reliefs?

Property owners may be missing out on valuable tax reliefs available through capital allowances and could make substantial tax savings by reviewing their options.

Can London's Smithfield Market be saved?

In July 2013 the City of London planning authority resolved to approve Henderson Global’s application for redevelopment of Smithfield Market. The scheme, designed by award winning architect John McAslan, proposed retention of the brisk and stone perimeter buildings, demolition of the central core and the construction of 3 new blocks of offices and shops.

The "Click and Collect" Revolution

The Department for Communities and Local Government (DCLG) is consulting on plans to allow retailers to alter properties to cater for “click and collect” services without the need for new planning consent.

Fracking: Proposal to transfer ownership of oil and gas reserves from the Crown to landowners.

Boris Johnson has entered the fracking debate with a proposal to change the law to give landowners the commercial rights to oil and gas beneath their land.

Fracking: has the Government cracked under the pressure?

The Infrastructure Bill contains changes in the law regarding the extraction of shale gas. Sarah Easton and Sue Lister look at the particulars.

Easier fracking plans announced

Easier fracking plans announced in Queen's speech prompt law firms to prepare for surge in inquiries from landowners.

Energy issues affecting land and property

Article first published in South East Farmer in May 2014.

Thomson Snell & Passmore advises SE10 on its London relocation

Leading South East law firm Thomson Snell & Passmore has advised global public relations agency SE10 LLP on its relocation to a new London HQ at Angel Corner House in Islington.

Thomson Snell & Passmore advises Miles Smith on its relocation

Leading South East law firm Thomson Snell & Passmore has advised insurance group Miles Smith on its relocation to its 12,500 square foot of new offices at 6th Floor, One America Square EC3N.

Legal Indemnity insurance – take care not to invalidate cover

By Alex Lewsley, Senior Associate. Contact Thomson Snell and Passmore 01892 510000.

Alternatives are out there

By Joanne Wright, Partner. Contact Thomson Snell and Passmore 01892

Should squatting in commercial properties be a criminal offence?

By Mark Steggles, Senior Associate. Contact Thomson Snell and Passmore 01892 510000.

Cold comfort

By Josephine Willoughby, Partner. Contact Thomson Snell and Passmore 01892 510000.

Biodiversity Offsetting – will it work?

By Matthew Grogan, Associate. Contact Thomson Snell and Passmore 01892 510000.

The Energy Act 2011 – are you ready?

By Sarah Easton, Senior Associate. Contact Thomson Snell and Passmore 01892 510000.

Thomson Snell & Passmore appointed to panel of Close Property Finance Limited

Leading South East law firm Thomson Snell & Passmore has been appointed to the panel of legal advisors for Close Brothers Property Finance, the property finance arm of merchant banking group, Close Brothers.

Thomson Snell & Passmore: Adam Henson Event

Leading South East law firm Thomson Snell & Passmore is delighted to announce its sponsorship of an event with TV presenter and countryman Adam Henson, on Thursday 21st November 2013 at the Kent Showground in Detling, Maidstone.

Thomson Snell & Passmore Advises Gravesham Borough Council

Leading South East law firm Thomson Snell & Passmore has advised longstanding client Gravesham Borough Council in connection with a project involving the installation of solar panels on Council owned housing.

Gravesham Borough Council fits 200 homes with solar

Approximately 200 council-owned houses across Gravesham Borough have been fitted with solar panels under a new pilot project.

Thomson Snell & Passmore Advises Stourbridge College

Leading South East law firm Thomson Snell & Passmore has advised Stourbridge College, in connection with its merger with Birmingham Metropolitan College. The merger completed on Friday 31 May forming one of the largest and most significant further education providers in the country.

Checking in a hotel buyer

By Sarah Easton, senior associate in the Commercial Property team. Article first published in a leading daily broadsheet newspaper 11 May 2013.

Thomson Snell & Passmore advise on the occupation of The Eden Centre by The Edenbridge & Westerham Citizens Advice Bureau.

Leading South East law firm Thomson Snell & Passmore have advised The Edenbridge & Westerham Citizens Advice Bureau (the CAB) on its move to the newly constructed £2.9 million community centre in Edenbridge, named “The Eden Centre”.

Thomson Snell & Passmore advise in Footesmusic investment

Leading South East law firm Thomson Snell & Passmore has advised Footesmusic Limited (Footesmusic), owner of Foote’s, the famous London music shop, on an investment in the business and its move to newly refurbished premises in Bloomsbury.

VAT and the option to tax commercial property

By Laura Keatley, Senior Associate in the Commercial Property & Development team.