The Mediator

Accountancy age: Best Practice profile of Lynette Lackey

Managing the flow of funds between countries, BDO Stoy Hayward’s Lynette Lackey is fascinated by the whole area of cross-border property deals

In the last decade, the property and real estate sector has changed beyond recognition, Lackey says, and even in the past two years developments have come thick and fast.

On the move

A primary focus is the flow of funds between countries. Currently, the UK and the US are attracting investment from the Middle East. German funds are increasingly interested in the UK and Irish markets, while UK investors are investing in Germany and the Czech Republic.

The diversity brings many possibilities. ‘One of my clients might say they fancy retail in Germany, but office space in the UK. They might choose to invest through a Channel Islands investment vehicle to take advantage of the regime there.’

This kind of international deal needs advisers who can perform comprehensive financial risk assessment, while keeping their eye on the client’s endgame.

‘It’s all about tax efficiency,’ says Lackey. ‘You want to bring returns in with the least tax leakage possible. That means assessing what the best structure will be. The really important thing is looking forward to their exit plans. There is no point in setting something up that leaves them with a large liability further down the line’

http://www.bestpracticemagazine.co.uk/best-practice/features/2195294/profile-lynette-lackey-partner

on Green issues

‘Many developers I work with support green initiatives. One of the challenges we face is: if eco-friendly approaches to building cost more, then you have to have the support of tenants.