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Peter Thorne

Partner
Peter Thorne

A real estate partner, specialising in commercial property investment and development and regeneration projects.

Tel: +44 (0)20 7864 9507
Email: peter_thorne@wragge.com

Services: Real Estate

Best brains in

Listening, creating acceptable solutions to resolve issues in real estate transactions and achieving my clients objectives. Not losing sight of my clients best interests.

Highlight of your career?

There are probably two that rank equally. Advising St Modwen on the acquisition of the former BP Oil refinery site at Coed Darcy and its subsequent regeneration to create an Urban Village. The second is the site assembly for the new US Embassy at Nine Elms.

The most challenging job you've ever done?

Advising Cherwell District Council in connection with the development of its Castle Quay Shopping Centre. The transaction initially involved the construction of a new shopping centre and subsequently incorporated the Council's existing Castle Shopping Centre. The agreements required numerous revisions over several years but it did produce a vibrant new shopping centre of over 80 stores revitalising Banbury as a shopping destination.

Outside the UK?

I have advised several clients on the selection of real estate lawyers to advise on development projects in Europe and Asia. In most cases we have introduced clients to our recommended real estate practices and in some cases have been required to advise those practices as to the way in which the particular client does business and delivers its project in the UK.

What's your definition of going the extra mile?

Clearing your desk to focus exclusively on delivering one particular project. Prior to the Peabody Fund's sale of its Cutlers Gardens Estate, we were required to reorganise the various occupancies of AON to enhance the asset value. The transaction, which was required to be completed in a short space of time, involved Angela Perry and I doing very little else for 13 consecutive days. It was the first job for this client and they were sufficiently impressed to instruct us on the subsequent disposal of the estate for a sum in excess of £400 million.

Best example of a creative legal solution?

Regeneration projects frequently give rise to a conflict between the public sector partner retaining sufficient rights and remedies to ensure regeneration takes place. The developers need to have sufficient rights and interest to ensure the redevelopment can be financed. It also needs to be sufficiently flexible to satisfy the requirements of users and occupiers. There are various solutions to meet both parties' objectives.

When have you ever given a client a real competitive edge?

I've been involved in property development and regeneration for 25 years and find that the best way I can give a client a competitive edge is by using that experience to advise them on ways to enhance its offer. When a client is tendering for a project, we totally commit our resources to ensure that the transaction is delivered within a practical timescale.

What's my biggest contribution to Wragge & Co's corporate responsibility?

Abseiling off a 24-storey building in Birmingham. My legs were shaking as I went over the edge and the only thing that kept me going was knowing I was doing it for a good cause and that my secretary was ahead of me!

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Press releases

17.01.14

Quentin Poole and Peter Thorne named in The Lawyer's Hot 100

Quentin Poole and Peter Thorne have been recognised in The Lawyer's Hot 100 List for 2014. The list celebrates 100 innovative and inspirational legal professionals.

25.11.13

Wragge & Co property experts advise on major Manchester multi-let

Wragge & Co's Real Estate team has advised on the purchase of a landmark commercial property in the heart of Manchester's business district in a deal worth £20 million.

03.04.13

Wragge & Co advises St. Modwen on £450 million science and innovation campus

Wragge & Co's real estate experts advised regeneration specialist St. Modwen Developments on a £450 million science and innovation campus development project at Swansea University.

10.01.13

Wragge & Co advises St. Modwen on £2 billion deal to redevelop New Covent Garden Market

Wragge & Co's real estate specialists have advised long-standing client and the UK's leading regeneration specialist St. Modwen Properties PLC together with its joint venture partner VINCI PLC, on a £2 billion development project for the regeneration of New Covent Garden Market in London.

14.10.11

Wragge & Co advises on Queensberry Real Estate's first development agreement

Wragge & Co's Shopping Centres team has advised newly formed developer Queensberry Real Estate LLP on its first development agreement. The agreement with Newport Council is for a proposed £110 million, 390,000 sq ft retail development at John Frost Square in Newport city centre.

19.08.10

Wragge & Co advises St. Modwen on £300 million joint venture with Persimmon

Wragge & Co's real estate specialists have advised UK property investment and development company St. Modwen on a joint venture with housebuilder Persimmon to develop 2,000 homes across seven sites in England and Wales.

30.07.08

Wragge & Co advises Ballymore on Snowhill development

Wragge & Co LLP Real Estate group has advised Ballymore Properties Limited on the latest pre-let deal for its high-profile Birmingham Snowhill development.

02.04.08

Wragge & Co advises DTZ on new global headquarters

Wragge & Co LLP Real Estate group has advised DTZ, one of the leading global commercial property advisors, on its lease for new global headquarters in the City of London.

07.06.07

Wragge & Co acts for Peugeot on sale of 140-acre Ryton site

Wragge & Co LLP Real Estate Group has advised PSA Peugeot Citroën on the sale of its 140-acre Ryton site.
 

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