25 January, 2021
Forbes Solicitors advised on £22million worth of commercial property deals in December 2020, as the total value of monthly transactions returned to pre-COVID levels.
Despite trading restrictions imposed by the Government's coronavirus tiering system and a second national lockdown in December, the firm's commercial property team recorded its busiest month of 2020.
Instructions were completed throughout the North West and across a range of different sectors including construction, medical, warehousing, retail and pensions. Deals involved a mix of land and property purchases as well as company share sales.
The value of the largest deals ranged between £4million to £10million, while a flurry of sub £1million value deals was driven by residential and industrial construction projects and the restructuring of property portfolios.
Adam Bromley, Partner and Head of Commercial Property at Forbes Solicitors, said: "The most noteworthy aspect of the strong end-of-year uptick in commercial property deals is not so much the total value of deals, but the fact that we saw demand across such a mix of different sectors. This shows companies are adapting to the impacts of the pandemic and that there's growing levels of confidence to invest in and strengthen businesses.
"There's still much market uncertainty, however, whilst this may have slowed or stopped deals previously during COVID-19, we are now seeing much more eagerness amongst businesses to explore how deals can be structured to weather the storm. This has included more flexible and transparent negotiations as well as pandemic-specific clauses inserted into agreements."
About Forbes Solicitors:
Forbes Solicitors is an award-winning law firm, with 11 offices across England that looks after the interests of clients nationwide.
The firm has more than 40 partners and an overall headcount of nearly 400, advising on a wide range of commercial and personal matters. Forbes specialises in supporting SMEs, providing legal expertise in practice areas including litigation, commercial, corporate legal services, employment, insurance, commercial property and individual services.
Forbes holds the ISO9001 Quality Certification and in its recent assessment it was described as "exceptional". The firm is ranked as a Legal 500 Top Tier Firm and a Chambers and Partners Leading Firm, receiving 70 nominations in the latest editions. Furthermore, a number of its partners are included in the elite "Leading Individuals" list, the "Next Generation Lawyers" list, and 41 of Forbes' solicitors are listed as recommended lawyers. Forbes is also a member of LawPact® - the international association of independent business law firms - which supports the expansion of its national and global reach.
For more information contact Adam Bromley in our Commercial Property department via email or phone on 0333 207 1158. Alternatively send any question through to Forbes Solicitors via our online Contact Form.
Learn more about our Commercial Property department here