Full service law firm JMW Solicitors LLP has further grown its Real Estate team with the appointment of two new Partners.
Ruth McCarthy has joined JMW as a Partner leading the Real Estate Commercial team together with long standing JMW Partner Ian Gordon. Ruth follows existing department head Jim Banfi who will continue as a Consultant with the team. Jim, aged 64, is one of the best known and respected figures in Manchester property market and will continue acting for Brookhouse Group and several other key JMW clients. He recently led the team acting for JMW client, Brookhouse in its acquisition agreements, securing planning and collaboration arrangements for its involvement in the 160 acre Cuerden Strategic Development Site close to M65 intersection. The site will be anchored by IKEA as well as mixed use, logistics, office, employment and residential purposes. The proposal represents an investment of more than £400 million, which will also deliver substantial transport and infrastructure improvements.
Ruth joins JMW from Berg Solicitors (now Kennedys LLP) where she was also a Partner and Head of Real Estate. Ruth works across all areas of commercial real estate but specialises in property finance and her clients have included major UK clearing banks, challenger banks, funds, short-term and mezzanine funders and peer to peer (or ‘crowd’) funders. She has significant experience in acting for both borrowers and lenders. Ruth counts amongst her clients national developer Primesite Developments.
Abdul Salam also joins JMW’s Real Estate team as a Partner from Gateley Plc where he had worked for over 15 years. He works across all areas in commercial real estate but specialises in acquisitions and disposals of investment properties, owner/occupier work and acting for high net worth individuals.
In December 2017 the Real Estate team, now numbering 130 people, moved into14,000 square feet of new office accommodation at 3 Hardman Street. The new office space on the 4th floor houses 100 lawyers and 30 support staff, with room for expansion. Since the start of the new financial year in May 2017 the Real Estate team which comprises Real Estate Commercial, Real Estate Residential and Real Estate Financial, has grown by 35 people which was the catalyst for the move.
Real Estate Commercial has grown from 38 people to 53 since May 2017 and billing from £3.2 million to £4 million (23% increase) in the past year (December 2016-December 2017). The last 5 years billings increased from £1 million to £3.5, a 250% increase.
Commenting on the appointments Joy Kingsley, Senior Partner at JMW Solicitors LLP said:
“We are delighted to welcome both Ruth and Abdul to our growing Real Estate Commercial team. They are both excellent additions to the firm and bring with them a wealth of experience across all areas of commercial real estate.
“We have been able to attract new recruits at all levels, despite a difficult recruitment market and we continue to do so. As well as the 15 lawyers who have joined the Real Estate team since 1 May 2017, we have another 8 waiting to start so at the present time we are in the enviable position of having filled all our Real Estate vacancies.
“We are sure that Ruth and Ian will build on the successful growth achieved under Jim Banfi.”