Peter Thorne

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

Tel: +44 (0)20 7864 9507

Email: peter_thorne@wragge.com

Best brains in

Listening, finding acceptable solutions to resolve issues in real estate transactions and keeping my eye on the objectives. Most importantly, I always remain conscious of my role in achieving those objectives.

Highlight of your career?

There are probably two that rank equally. The first is the acquisition of Longbridge and advising St Modwen in connection with its subsequent and ongoing regeneration. The second is advising Marks & Spencer plc in connection with the strategy for, and subsequent disposal of, its former headquarters in Baker Street.

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 23 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. I was 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!