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Life insurance giant Prudential has appointed Belfast firm Elliott Duffy Garrett as its main adviser for property investment work in Northern Ireland.
The appointment is part of an ongoing review of legal outsourcing at Prudential Property Investment Managers (PruPIM) (The Lawyer, 17 September). Elliott Duffy replaces PruPIM's longstanding Northern Ireland adviser Tughan & Co. PruPIM transaction manager Martin Ellis, who is responsible for legal services in Northern Ireland and Scotland, said: "We just felt that following the review we could obtain a better legal service elsewhere. That's why we chose Elliott Duffy." The work will include the full raft of property advice, from sales and acquisitions to ongoing management and leases. Funds managed by PruPIM currently own around a dozen properties in Northern Ireland. Ellis looked at 10 firms and spoke to a number of property companies for recommendations before drawing up a shortlist of three. His criteria included the number of partners and associates available to do the work, capability in property-related disciplines, such as construction and employment, and administrative backup. All work has now been transferred over to Elliott Duffy and the firm has already acted on its first sale for the new client. Elliott Duffy has five partners specialising in property work. Christine Hamilton will act as relationship partner for PruPIM. She said: "We're very pleased to be getting such high-profile work and we look forward to developing our relationship with PruPIM. They've come over to see us on a number of occasions and are keen not to be seen as far away."