Higgs’ construction and engineering team, led by Rachael Hobbis, advised an American based company specialising in the manufacture of hydraulic fittings and adaptors in connection with their acquisition of a new build plot on a long leasehold basis which is fundamental to the group’s strategy growth in the UK.
Acting on the instruction of in-house counsel for the client, Higgs were involved in the transaction from an early stage, being consulted in respect of agreement of the heads of terms and legal strategy for the transaction which would subsequently involve the simultaneous exchange of a sale agreement conditional on planning and a development management agreement for the construction of a new West Midlands warehouse and office facility.
The construction and engineering team was responsible for the negotiation and agreement of the terms of the development management agreement with the landowner and developer which included obligations in respect of quality of the build, required timescales, payment, insurance, completion and defects rectification and provision of collateral warranties.
Planning was obtained and the long lease granted. Construction was subsequently undertaken pursuant to the terms of the development management agreement at which point due diligence was undertaken by the team to ensure the client would have a comprehensive suite of warranties providing recourse against the professional team, contractor and sub-contractors in the event of later issues or defects with the building.
Following successful completion of the build the team acted on behalf of the client in securing a comprehensive suite of warranties in favour of the client providing recourse against the professional team, contractor and sub-contractors. Copies of all underlying contracts and evidence of insurance maintained by the relevant warrantors was also obtained for the client’s future record purposes in the event of the need to claim.
