RichardAdams

Counsel

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Richard Adams practices planning law and has more than 15 years of experience representing clients on a range of planning and planning enforcement matters. He has extensive experience with planning agreements, including affordable housing obligations, and assessing planning situations for proposed purchases by clients. Richard also advises on highways law, including the stopping-up of highways in development scenarios.

Richard represents clients such as British Land, Greystar, and LondonMetric. He recently advised Greystar in successfully procuring planning permission for 1,965 new homes to regenerate the site of the former Glaxo factory in Greenford, London. He also advised Greystar as to their proposed residential towers at Essex House, Croydon.

Richard advises British Land on a range of retail properties, having assisted them in securing over 22,000 square meters of retail floor space at Whiteley in Hampshire. He is currently advising British Land on their proposed Drakes Circus Leisure development in Plymouth city center.

Between 2004 and 2006, Richard was involved in advising West Midlands International Airport Limited regarding planning issues at Coventry Airport, in particular the proposed development of a passenger terminal for two million passengers annually, which was the subject of two major public inquiries, including the longest planning enforcement appeal in history.

Richard also acted for Highcross in securing permission for a major mixed-use scheme of approximately 100,000 square meters at Lakeside Business Park, Portsmouth, comprising (among other elements) significant office floor space, an aparthotel, and a private medical facility.

Experience

  • British Land exchanges on disposal of £429 million (US$555 million) of Sainsbury's superstoresJones Day advised The British Land Company PLC ("BL") on the disposal of 12 superstores held by a joint venture between BL and J Sainsbury PLC to Realty Income Corporation, an entity listed on the NYSE, for aggregate consideration of £429 million (US$555 million) (representing a net initial yield of 5.0%).
  • Independent financial services firm sells One Poultry in LondonJones Day advised an independent financial services firm subsidiary in its sale of a special purpose vehicle which owns One Poultry, London.
  • Greystar sells Building 3 Oldfield Lane North, Greenford, London to Telford Homes for £28.4 million ($36.4 million)Jones Day advised Greystar Real Estate Partners, LLC in its £28.4 million ($36.4 million) sale of Building 3 Oldfield Lane North, Greenford, London to Telford Homes Plc.
  • Greystar recapitalizes Chapter student accommodation portfolio in Central LondonJones Day advised Greystar Real Estate Partners, LLC in a recapitalization of its and PSP’s Chapter portfolio of student accommodation properties, one of the largest in Central London, by consolidating the portfolio under a new joint venture in which Allianz acquired an interest.
  • Hansteen Holdings and associated group entities acquire 34 properties from St Modwen Properties Plc and associated group companiesJones Day represented Hansteen Holdings Plc and group entities on its £53.7 million ($68.2 million) acquisition of 34 properties from St Modwen Properties Plc and associated group companies.
  • DV4 and Oxford Properties form DOORJones Day advised DV4 Ltd (“DV4”), which is advised by Delancey Real Estate Asset Management Ltd, on the sale of DV4's interests in Get Living, the UK’s leading privately backed residential company, to Delancey Oxford Residential (“DOOR”) a new co-investment platform with initial capital commitments of £600 million; the establishment of DOOR, which includes the joint venture between DV4 and Oxford Properties; and on real estate matters related to the London scheme, Elephant Central in Elephant and Castle which is part of the Get Living portfolio.
  • Cortland Partners forms JV to develop build-to-rent properties in UKJones Day advised Cortland Partners LLC in its formation of a joint venture with Orion Land & Leisure Limited, Colony Northstar, Inc, and Asia Capital Real Estate focusing on the development and letting of build-to-rent properties and the acquisition of land for such development, primarily located in Greater London and other selected markets in the United Kingdom.
  • Greystar acquires site to develop 200+ bed student housing property in Islington, London by way of joint ventureJones Day advised Greystar Real Estate Partners, LLC on the acquisition and development of a 200+ bed student housing property in Islington together with the formation of a joint venture by way of a Jersey unit trust to carry out such development.
  • Antirion SGR acquires 50 percent interest in Principal PlaceJones Day advised Antirion SGR S.p.A. in its acquisition of a 50 percent interest in Principal Place Commercial Limited, a Luxembourg resident SPV wholly owned by Brookfield Property Partners.
  • PW Real Estate Fund III completes £323.3 million (US$419.4 million) cash offer for Pinewood GroupJones Day advised PW Real Estate Fund III, LP, which was advised by Aermont Capital LLP, in relation to the £323.3 million (US$419.4 million) cash offer for the entire issued share capital of Pinewood Group plc, the AIM listed company which owns the Pinewood Studios business.
  • DV4 forms joint venture with APG Asset Management and Qatari Diar Real Estate Investment Co. to create £1.4 billion (US$2 billion) home rental business in London with 4,000 homesJones Day represented DV4 Limited, which is advised by Delancey Real Estate Asset Management Limited, in connection with the formation of a £1.4 billion (US$2 billion) joint venture with APG Asset Management NV and Qatari Diar Real Estate Investment Co., to create a home rental business in London, with properties in the former Olympic athletes' village and the Elephant & Castle district.
  • Greystar purchases GSK and bakery site and forms joint venture with global real estate companyJones Day represented Greystar Real Estate Partners, LLC in its purchase of former GSK and bakery site (Future PRS), and the formation of a joint venture with a global real estate company.
  • Goldman Sachs and Highgate Hotels acquires K+K Hotels GroupJones Day advised a consortium led by Goldman Sachs and Highgate Hotels, a leading hospitality investment and management company, in its acquisition, acquisition financing, and debt restructuring of the K+K Hotels group, which owns a portfolio of ten boutique hotels located in London, Paris, Barcelona, Munich, Vienna, Prague, Budapest, and Bucharest.
  • Bank of East Asia provides secured term loan facility for financing acquisition and development of hotel in central LondonJones Day advised Bank of East Asia, Limited in connection with its secured term loan facility for refinancing the acquisition and financing the development of a hotel in central London.
  • Whitgift Centre Croydon sold to Westfield/Hammerson joint ventureJones Day advised FTI Consulting LLP on their appointment as receivers over the Whitgift Centre in Croydon and on its subsequent sale to a Westfield/Hammerson joint venture for an undisclosed sum.
  • LondonMetric acquires Fordton Retail ParkJones Day represented LondonMetric Property plc in connection with the acquisition of Fordton Retail Park, a new development consisting of five retail units.
  • Inflexion Private Equity completes MBO of CP ElectronicsJones Day advised Inflexion Private Equity Limited in connection with the management buyout and related financing of CP Electronics, a producer of lighting and energy saving control products and systems.
  • Arlington Business Parks completes sale of land interest at Birmingham Business Park to JCAM Commercial Real Estate Property LimitedJones Day represented Arlington Business Parks GP Limited in connection with its sale to JCAM Commercial Real Estate Property Limited of all of Arlington's land interest at Birmingham Business Park which included six multi-let investment office assets and circa 40 acres of undeveloped land, subject to complex options to build out certain parcels with cooperation of the buyer, together with the exiting and hand-over of control of the Park management company.
  • LondonMetric acquires Saturn portfolio for £92.4 million (US$140 million)Jones Day advised LondonMetric Property Plc in its acquisition of a portfolio of six retail warehouse assets, from Aviva Life & Pensions UK Limited for £92.4 million (US$140 million).
  • British Land purchases Centros Lancaster Limited PartnershipJones Day advised The British Land Company PLC in connection with the purchase of Centros Lancaster Limited Partnership.
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    April 2013 Newsletters

    Real Estate Intelligence

    October 2009 Commentaries

    The Community Infrastructure Levy

    March 2006 Commentaries

    Planning and Compulsory Purchase Act 2004 / Town and Country Planning Act 1990
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