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2014 Business Transactions Update

Posted on in IQE Isle of Man

The first half of 2014 has seen a number of UK properties acquired and disposed of, business aviation and maritime activity undertaken, a number of financing arrangements put in place, together with corporate investments and restructures carried out during the period.

A selection of some higher profile transactions include:-

- Commercial Property Acquisition - Interest in commercial property across the UK is continuing with active deals in London, the North West and Scotland, where the largest deals in those areas during the period were circa £45mn, £15mn and £12mn respectively

- Property Development - Numerous property redevelopments were underway/in progress in the first half of 2014 - see our Luxurious Boutique Apartment news story for an example of one such development, which was recently completed. Overall we are engaged on 13 live developments at the moment, including a couple of option led transactions, we should see permission granted for change of use in the coming weeks in SE1 London. Our experience in facing the London planning authorities and knowledge of process at a time when our international family office clients are running multiple transactions offers real value to ensuring transactions are completed on time.

- Delivery of New Corporate Business Jet - We assisted in the completion of an Intra-Community EU acquisition of a US$50mn+ Dassault Falcon Aircraft for a Corporate Group's own business use, which involved the aircraft touching down in the Isle of Man for inspection and completion of relevant paperwork, prior to undertaking its first business flight.

- Sale of a Cruise Ferry circa 38,000 gross tonnage, which was previously one of the largest operating the UK to Spain route

- Structured Finance - H1 2014 seen engagement on a number of UK and European property acquisitions and developments, involving the provision of both finance and equity investment by our business partners.

The above is a short summary of recent work undertaken, talk to us to work together by contacting Steve McCafferty smccafferty@iqe.im or Ralph McCormack rmccormack@iqe.im

We have the expertise to assist with multi-jurisdictional fiduciary services for international structures

Simcocks Advocates have worked closely with IQE on both real estate and other private and commercial transactions over a number of years, and from our experience, IQE always strive to deliver the highest standards of service to both private and corporate clients alike. Their attention to detail, strong work ethic and listed corporate governance experience set them apart from other service providers. Phil Games, CEO, Simcocks Advocates Limited

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