A Henry Stewart Market Briefing
Negotiating and Renegotiating Leases and Licences for Telecoms Infrastructure
Chair
Philip Morris
Partner
Cell:cm
Speakers
Tom Bodley Scott
Partner
Batcheller Thacker
Martin Burns
Director
RICS Dispute Resolution Services
Scott Coates
Managing Director
Wireless Infrastructure Group
Andrew Farmery
Associate
Shoosmiths Solicitors
Anthony Fulgoni
VP International Strategic Sales
Proxim Wireless
Mark Newton
Partner
Fisher German
Marc Selby
Head of Property
3 UK Ltd
Martin Sims
Managing Editor
Policy Tracker Magazine
David Summers
Managing Director
Harlequin Limited
Ian Thornton-Kemsley
Consultant
Strutt & Parker
Andy Wood
National Operations Director
Harlequin Limited
Programme
What will the additional radio spectrum auction do to values and rents?
• How much spectrum is becoming available in the next few years in the UK?
• What will it be used for?
• What is the likely impact on aerial sitings on commercial buildings?
• What factors are likely to affect pricing for aerial sitings over the next decade?
Martin Sims
Managing Editor
Policy Tracker Magazine
Will the mobile internet and Wi-Fi increase demand, rents and capital values?
• Often described as a “disruptive technology” Wi-Fi and mobile internet has great potential for realtors
• An update on the latest technologies and market directions
• It’s now the fourth utility, but why does everyone think it should be free?
• Managing spectrum use in real estate as an important asset
• Managing customer/tenant expectations and current regulations
• How do you make the most of this and not get left behind?
Anthony Fulgoni
VP International Strategic Sales
Proxim Wireless
The use of comparable evidence in telecom negotiations
• What are comparable transactions?
• The significance of the actual parties to the transaction
• New lettings -vs.- rent reviews
• The relevance of height and planning consent
• Location as a factor
• The value of site sharing and subletting clauses in relation to inter-operator network sharing
• The valuation of new technology
• Calderbank offers at rent review
Ian Thornton-Kemsley
Consultant
Strutt & Parker
Consequences for rental and capital values of
inter-operator network sharing – a host of unforeseen consequences for values
• Investment decisions made on the back of secured long term rental streams will have to be revised and the market re-adjusted
• As the overall site market shrinks significantly over the next 2-3 years operators will chose the most cost-effective route pushing a lower cost base
• Network consolidation questions the whole 3rd party pay-away and sharing cost model
• Operators will no longer be beholden to a site based on the capital investment in it, rental commitment will now be the driving force behind decisions to stay or go
Marc Selby
Head of Property
3 UK Ltd
The multi-site market now
• What is a Multi-Site Agreement (MSA)?
• Type of sites which usually fall under an MSA
• Number of MSAs in the UK
• Benefit of MSAs to site providers
• Pros and cons of MSAs to operators
• The market today
• The future market
• Conclusion and the ways forward
David Summers
Managing Director
Harlequin Limited
Andy Wood
National Operations Director
Harlequin Limited
Factoring the long tail of health risk into the lease terms – responsibilities, risk assessment, insurance cover and costs of protection
• Responsibility for compliance as distinct from responsibility for legal liability
• Risk assessment of joint liability: offering further protection for the landlord
• Insurance costs as opposed to losing the site
Andrew Farmery
Associate
Shoosmiths Solicitors
Implications of the new Commercial Property Codes of Practice for negotiating tactics and management practices
• Rent review and alternative lease terms
• Landlord’s decision on consents for alterations in set timescale
• Scale of impact on this sector
• Should there be an “operator’s code”?
Andrew Farmery
Associate
Shoosmiths Solicitors
The search for freehold sites – who, why and where? The big growth area of local authority infrastructure and small networks
• A review of the demand from investors and the sites they are seeking
• Factors affecting supply, demand and capital values
• An analysis of the growth in demand for small networks for the non mobile phone market
Tom Bodley Scott
Partner
Batcheller Thacker
Mergers and acquisitions in the UK tower sector
• An analysis of the UK tower sector
• Acquisition rationale for tower companies
• What makes a good deal
• Financing the deal
Scott Coates
Managing Director
Wireless Infrastructure Group
Capitalisation rates and capital values in the current markets:
- individual sites and the auction market
- local networks
- large portfolios
• Historic changes in values
• Current values
• The effect of operators using other operators’ equipment
• The decommissioning of sites
Mark Newton
Partner
Fisher German
Latest developments in rent review and lease renewal dispute resolution in telecommunications
• The role and duties of surveyors acting as dispute resolvers
• Problems with conflicts of interest
• PACT as a means of renewing leases
Martin Burns
Director
RICS Dispute Resolution Services
Changes in planning and the implications for rents and capital values
• Update on new planning guidance
• Update on case law
• Implications for property owners and portfolio managers
• Financial consequences
Tom Bodley Scott
Partner
Batcheller Thacker
The latest developments in the use of Code Powers by telecom operators
• Redevelopment of property affected by the presence of telecom apparatus
• Negotiating with the operator over the moving/removal of apparatus
• Interaction of roles of surveyor and solicitor
Tom Bodley Scott
Partner
Batcheller Thacker