THE EXCEPTIONAL AND THE EVERYDAY IN REAL ESTATE...

The Chancery Lane Project may change your life… that’s what it's for – to establish another "new normal" but this time in a good way. New law, new thinking, new wording all to make it easier to actually mean green – have a look. Plus, a life sciences deal which is genuinely world leading and some "real comment" on offices.

THE CHANCERY LANE PROJECT

The Chancery Lane Project is a collaboration of lawyers in the UK developing new contracts and model laws to fight climate change.

The aim of The Chancery Lane Project is to create practical legal solutions and new market norms for contracts which have a positive environmental impact – the idea being that if you can “change precedents you can change the world”.

Over 80 lawyers across all practice areas in Addleshaw Goddard have volunteered time to The Chancery Lane Project this year.

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A CLASSIC VIEW ON THE OFFICE

As the debate over the future of the office grows, the language used to discuss it has become more and more predictable. By far the most groan-inducing cliche is the Mark Twain-inspired claim that “reports of the death of the office have been greatly exaggerated” (Twain’s original oneliner was in response to an incorrectly published obituary). So a shout out to Addleshaw Goddard real estate partner Lee Sheldon, whose Linkedln article this week, “Long live London, long live the office!” makes an admirable attempt at shaking up theframes of reference.

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ESG -THE NEW ROCK STAR OF REAL ESTATE?

Real Estate Partner Lucy Sturrock interviewed Dan Grandage, Head of ESG, Private Markets at Aberdeen Standard Investments. Some of the topics it was covered:

• How ASI are measuring and managing the impact of assets on society
• The Launch of ASI’s net zero real estate investment framework
• What ASI’s goals are in relation to sustainability

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HOUSING AND CARE FOR OLDER PEOPLE: DEFINING THE SECTOR

In October 2020, the British Property Federation (in association with Cushman & Wakefield) launched its report, “Housing and Care for Older People: Defining the Sector”.The report’s conclusion was that a strategy for delivering purpose built housing for older people must be a national priority.

To achieve this, the report makes three recommendations:

1. a Housing for Older People Taskforce should be established by the UK Government;
2. the UK Government should develop and publish a national strategy for Housing for Older People;
3. priority should be given to projects that exhibit a commitment toachieving the UK’s zero carbon ambition.

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DEAL OF THE MONTH

VACCINE VIRUS … LIFE SCIENCES – NEVER MORE PROMINENT BUT STILL A VERY SPECIALIST SECTOR

Why is it a significant deal?

• UCB is one of the most researchintensive companies in Europe
• Represents one of its three R&D hubs in the world
• Demonstrates UCB’s commitment not only to the UK, but to the global life sciences sector
• It will be advancing scientific research and providing solutions to patients globally

The agreement to purchase the new campus in Windlesham, Surrey by UCB demonstrates the global biopharmaceutical company’s commitment to the UK’s life sciences sector and its drive to support cutting-edge research and development, as well as develop innovative treatments for patients with neurological andimmunological conditions. 

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VIDEO SERIES: TRANSPORT IS THE LARGEST CONTRIBUTOR TO CARBON EMISSIONS IN THE UK

But what is the industry doing to tackle the issue? What steps are we taking now to ensure we meet the target set out by the UK Government and Scottish Ministers to achieve net zero carbon emissions by 2050 in the UK as a whole/2045 in Scotland and meet the UK’s Paris Agreement commitments?

The countdown has started and we need to act now.

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