Taylor Woodrow's key property advisers are understood to be CMS Cameron McKenna and Eversheds. Other firms that have relationships with the housebuilder and that are expected to be involved in the tender include Hammonds, Mills & Reeve, Wragge & Co and Walker Morris. The FTSE 100 client is understood to spend in excess of £5m per year on property advisers.
Group general counsel Jeremy Sampson confirmed that the review had just got under way and said it would produce a new panel of preferred advisers.
“We've invited a fairly small number of firms to tender,” said Sampson. “It was something that needed to be done. Now is the appropriate time.” He said that most of those invited have worked for the company before.
Taylor Woodrow is going through a major restructuring process to integrate different parts of the business and boost efficiency. Its central office is moving from Staines to Solihull, where all senior management will now be based at the same location. Offices in central London will be disposed of and Taylor Woodrow's regional offices have been cut from 12 to 10.
The in-house team is made up of Sampson, who focuses on corporate and general commercial work, three construction lawyers, and around seven paralegals and legal executives dealing with the housing business.
Sampson said that the future location of Taylor Woodrow's in-house legal function would depend on the outcome of the review.
It is understood that the company will consider outsourcing some of its legal function to private practice.