The Queen Angel Luxury Resort
The Firm’s representation of this client included advising on the acquisition of the development site, advising on the most efficient structure to undertake the development, securing the transfer of title to the development site, securing interim concessions and development relief, negotiating a Development Agreements with Government, assisting with Planning submissions, defending client in a boundary dispute with its neighbor, advising on traditional and non-traditional financing options including equity investments, reviewing Architectural and Construction Contracts, drafting the development’s standard Sale and Purchase Contracts and documentation, answering potential purchasers’ legal questions and negotiating sale and purchase agreements with prospective buyers and their counsel, acting as Trustee and Stakeholder for deposits prior to commencement of construction, securing registration of strata titles, effecting the transfer of title from the developer to buyers, advising on and establishing a management structure and entities, drafting and advising on employment contracts, advising on the assumption of management responsibilities through a developer-controlled management company, advising on the ongoing management of the resort, and advising on the retention of commercial property within the strata plan.
Financing the Development
We provided advice on financing options and assisted in securing and structuring financing, including traditional bank borrowing, private debt and equity financing, and structuring developer mortgages.
We advised on business licensing obligations, work permits, national insurance, health and safety, and physical planning obligations.
The Development Agreement
We undertake all negotiations with Government regarding the reduction of import duties, a Development Agreement, and work permit assurances.
Sale & Purchase Agreement
We advised on provisions providing for the forfeiture of deposits on default, provisions prohibiting the assignment of a purchase agreement during the developer’s sell-out period, clauses allowing for customs import duty claw backs to owners of residential suites in the resort, drafting and advising on suitable bylaws, advising on the timing of interim payment obligations, advising on drop dead dates for the commencement of construction and the completion of the development, and advising on clauses providing for the conditionality of Sale & Purchase Agreement until the grant of planning permission.