Property giant Land Securities has dropped two firms in a review of its legal services and is keeping its newly formalised panel under review as part of an ongoing modernisation process.
Lawrence Graham and Finers Stephens Innocent have both lost their roles with Land Securities.
The new panel marks a shift away from having Land Securities' legal needs virtually singularly-sourced by Nabarros in favour of greater competition between firms.
In-house counsel Clive Ashcroft confirmed that Finers had been dropped because Land Securities felt it needed a larger firm. Lawrence Graham had worked for Land Securities for more than 25 years, but many of the properties it dealt with have been sold. Dechert has since taken Finers' place on Land Securities' retail warehouse portfolio.
Lovells and Cripps have built a relationship with Land Securities since its acquisition of their client Whitecliff Properties from Blue Circle in 2001.
Ashcroft said: “The idea of this was really to review the whole panel and see where we were up to with the legal services being provided, identify any gaps and fill them in. I would like to think [the review] was ongoing. I'm happy with the panel, but I am reviewing constantly.”He added that Lawrence Graham had always provided a “superlative” service and would still be able to bid for work at a later date.