The Lawyer can reveal that Lovells is in the final stages of negotiating a deal with Knight & Sons that will see the West Midlands firm join its panel of subcontractors for major client Prudential Property Investment Managers (PruPIM)
A place on the new panel will give the 18-partner firm a share in a legal spend that runs into several millions of pounds a year. Knight & Sons, based in Newcastle-Under-Lyme, is expected to join Cripps Harries Hall on the panel, which Lovells has masterminded for its new 'Mexican Wave' legal services model. The new approach is aimed at advising more efficiently on the wide range of complex and routine transactions carried out by large property clients. Lovells approached Knight & Sons with its proposal after being impressed with it on a number of transactions. Lovells' relationship with Cripps is rather different. A number of former Lovells lawyers now work at the Tunbridge Wells firm and were brought in by Lovells to work on recent property outsourcing deals. As The Lawyer went to press, neither firm had met with PruPIM's director of property legal services Bob Allen, but meetings were due to be held shortly to secure final approval for the appointments.