Jonathon Wilkes
I am a commercial development and investment specialist working as part of a 30-strong team which acts for institutional investors on UK and worldwide acquisitions, disposals and for the dominant players in the UK warehousing and distribution market.
Tel: +44 (0)121 629 1485
Email: jonathon_wilkes@wragge.com
Best brains in ...
Large scale development projects (including site assembly, overage arrangements, infrastructure agreements, pre-lets and construction related matters), UK and international portfolio acquisitions and disposals and joint venture and collaboration agreements.
Highlight of your career so far?
I acted for the purchaser on a sale and leaseback transaction relating to a £200m portfolio, involving a complex securitisation structure and many parties with competing interests. Two weeks of intense negotiation (including three 'all nighters') - a real challenge but a very successful outcome.
Most challenging job you've ever done?
I represented a developer landlord, entering into a pre-let of a large warehouse building, which gave the tenant the right to call on the landlord to extend the building in the future. Two leases, one 'inside the Act' relating to the main building, and the other 'outside the Act' relating to the expansion land, and a need to ensure that occupation of the expansion land could continue for so long as the occupier remained in the warehouse, but would automatically cease if the warehouse became vacant. A very technical and ground breaking transaction.
What about outside the UK?
I work closely with our Corporate Real Estate team (Kevin Jones, Sharon Ayres, etc) on the real estate aspects of international projects for developers and investors. I recently acted on the acquisition of a mixed use scheme in the Czech Republic for circa 60m euros.
What's your definition of going the extra mile ……. And when have you done it?
Every now and again you are required to be in two places at the same time. On one occasion I was involved in a project which required me to be in London almost every day for three weeks. Whilst that project was progressing, a client based in the Midlands contacted me and told me that a transaction I had been involved in for some time, and which had stalled on several occasions, was 'back on' and needed to exchange within the next forty-eight hours. I agreed with the Midlands client that we should have one meeting to settle the issues, engross and exchange. A car picked me up from the City at 4am and I arrived in Birmingham at 8am. The Birmingham meeting finished at 6pm that same day (after a successful exchange), and a car then took me straight back to London where I rejoined the ongoing London meeting at 11pm, finally exchanging on that project at 3pm the following afternoon! (AND I had a bad cold throughout...)
Best example of a creative legal solution?
I acted for a client acquiring a 50% share in a shopping centre. The share was acquired via an equity sharing lease (the freehold owner granted a long lease of the centre to a JPUT owned and controlled by the client, the rent under that lease being 50% of the rents received from the occupiers), which allowed the parties to utilise their combined expertise in managing and eventually redeveloping the centre, whilst having distinct, chargeable and disposable land interests.
How do you get under the skin of a clients business?
I make a point of keeping in regular contact with my clients, even when we aren't actually working on anything together. The closer you get to someone, the more you understand them, what they already know and how they think, and the easier it becomes for you to identify areas which they will need you to focus on, and how they like you to work with them.
What's your single greatest contribution to Wragge & Co's corporate responsibility?
I took part in a trek in the Bavarian Alps, for Sense, a charity which raises money for deaf and blind people.
What's been written or said about you that you're most proud of?
I particularly like a quote from a senior director of a large City investor client, because it sums up what I try to achieve: getting a job done quickly, focusing on the real issues and resolving them on a sensible basis.
'Jonathon's problem solving is as good as we have ever come across. He is very good at cutting through red tape. He is attentive, responsive and diligent, and gives timely, robust, commercial advice. He has personally unravelled a number of potentially deal breaking situations through his expertise and intervention.'
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