McClure Naismith follows shake-up with reflection on fruitful year so far

By DOMINIC JEFF
Published on 15/10/2012 00:00

The property team at commercial law firm McClure Naismith is enjoying a record year, having already advised on £100 million worth of deals.

The firm said the highlight was its role in the £20m acquisition of Fife’s Mercat shopping centre, and the team has already surpassed its total for all of 2011 in terms of the value of transactions it has acted in.

It has also provided management services to Coal Pension Properties for Cumbernauld Town Centre and Springkerse Retail Park, and advised on the purchase of the Artizan Centre in Dumbarton from Anglo Irish Bank for £4.85m.

Partner Stephen Scott said: “Our real estate team is delighted to have been involved in deals of such quality, in such quantity, for such prestigious
clients, new and old.”

McClure Naismith also advised on the sale of Charlotte House in Glasgow for £5m. The team also advised on the acquisition of the Spire Hospital at Shawfair in Edinburgh, for new client Santander (CF Trustee) Limited, at a price of £19.7m, from Spire, with a leaseback
arrangement to ensure the continuity of the business.

The team has also advised Santander on the forward funding of SoCo, Edinburgh’s highest-profile development on South Bridge/Cowgate, where a 259-bed Ibis Hotel, a nightclub and retail units are planned.

Last week, McClure Naismith overhauled its pay structure and unveiled a shake-up of its management team. Partners can now move down – as well as up – the equity ladder, while performance will also play a role in partner remuneration.