Former Slaughter and May partner Dermot Rice has emerged at the company owned by billionaire property developers, Nick and Christian Candy, after leaving the firm in November.
The real estate partner, who joined Slaughters in 1986, will join Candy & Candy as a director in May 2014, on the back of the appointment of Simon Stone as a fellow director last month. Stone joins from real estate company Savills, where he headed up the Central London development team.
Rice’s clients during his 22 years as a Slaughter and May partner included Grosvenor Estates, HM Government and Lend Lease.
In 2012 Rice led a team advising the Cabinet Office on the £60m sale of London’s iconic Admiralty Arch, a grade 1-listed building acting as a gateway between The Mall and Trafalgar Square (29 October 2012).
He also advised ITV in its purchase of the London Television Centre freehold from Coal Pension Properties. ITV paid Coal Pension Properties £56m for the 2.5 acre site, which houses ITV’s head offices and studios. Rice led on the deal, along with corporate partner Paul Dickson and tax partner Gareth Miles (1 February 2013).
The Candy brothers’ company is responsible for luxury real estate developments including One Hyde Park, the most expensive residential property in the UK, where apartments cost as much as £30m.
The development was also the subject of a legal battle brought by investment banker Geoffrey Logue, who sued the company dispute over breach of confidence, abuse of process and unlawful interference. The case settled in December.
Rice left Slaughter and May amid a spate of retirements from the firm. Last year 10 partners left the firm including financial regulation group founder Ruth Fox on 31 December 2013 and corporate partner Kathryn Davis. By the end of the year, the firm had seen 9 per cent of its partnership head for the door (27 January 2014).