Lorraine Power, Partner, has extensive expertise in commercial property, banking, construction, insolvency and corporate recovery, having practiced in these areas since she qualified in 1992. She joined the firm in 2013.
Advising on all aspects of commercial property, she is experienced in acquisitions, disposals, financing, restructuring and property investment. Clients assets acquired and disposed of include shopping centres, retail parks, industrial units, office blocks and warehouses. She has acted on behalf of a number of lending institutions, drafting and finalising the security of the lending institutions and enforcing such securities.
Lorraine advised a developer client in relation to obtaining an Order of the High Court (one of the first to be granted) under the provisions of the Land & Conveyancing Law Reform Act 2009. The Order granted a wayleave over lands connecting a “landlocked” development site to and from the public road.
She has advised developers in relation to the acquisition of “greenfield” sites, setting up of Management Companies and setting up the structure to deal with multi-level, multi-use developments. She advises individual clients, developers and statutory bodies on issues such as part-performance of contracts, retention planning permission problems, building control issues and issues arising from the Family Home Protection Act legislation.
With extensive experience in dealing with statutory bodies, Lorraine advised on the realignment of a national primary road and acted in relation to the compulsory acquisition of lands for the purpose of the creation of those roads, including taking injunction proceedings in order to demolish property to enable the construction of a road to proceed.
Lorraine also advises on all aspects of landlord and tenant law including commercial retail landlords and tenants in relation to all aspects of Landlord and Tenant law.
She advises financial institutions, receivers and liquidators in relation to the enforcement of security, restructuring and the sale and management of distressed property portfolios.
Working with a range of blue chip clients in the private and public sector, Lorraine acts for include specialist investment funds (REITs, QIAIFs, and ICAVs), individuals, financial institutions (including receivers appointed by such institutions), developers and statutory bodies.
Recent Work Highlights
- Advising Limerick Twenty Thirty Strategic DAC in the creation of a unique joint venture partnership with Ireland Strategic Investment Fund, part of the National Treasury Management Agency to finance the development of the One Opera Square project in Limerick
- Acted for Yew Grove REIT PLC in the acquisition of the REIT by Slate Asset Management, transaction value €128 million in respect of a broad range of assets, office blocks, multiple units in shopping centres, retail parks and industrial units in IDA Parks
- Acted on behalf of a Health Care provider in the acquisition of another Health Care provider including 17 property assets
- Acted in all property elements of the successful IPO of Yew Grove REIT PLC in 2018
- Acquisition of all of the assets of Yew Grove REIT PLC, to date the assets acquired have an approximate valuation of €141m
- Advised on the disposal by Greyhound Racing Ireland of the Harold’s Cross Stadium, value €22m. This advice was complex and included making a court application to acquire the freehold of portion of the stadium on behalf of Greyhound Racing Ireland prior to the sale of the stadium
- Acted in one of the first Orders to be granted under the provision of the Land & Conveyancing Law Reform Act 2009 allowing a development site previously “landlocked” to be “unlocked” for planning purposes leading to the development and subsequent disposal of the development site
- Acquisition of 61 retail units on behalf of an ICAV
- Acquisition of 6 office blocks and greenfield site in 2020, value €25.3m
- Disposal of 19 retail units in multi-level shopping centre
- Advising on the incorrect validation of a newly constructed industrial unit on the BCAR register.
Professional Activities
- Member of Law Society of Ireland.
Education
- National University Ireland, Cork, BCL
- Admitted to the Law Society of Ireland.
Related
Headed by Limerick-based Sandra Egan and Dublin-based Lorraine Power and Harry Fehily, they have recently been active for investment trust Yew Grove REIT on acquisitions. The team acts in the healthcare, retail and office sectors while also advising on lease negotiations.
Lorraine Power
Real Estate | Legal 500 EMEA 2020
'Always professional to work with.’ Practice head(s): Sandra Egan, Lorraine Power and Harry Fehily.
Lorraine Power
Real Estate | Legal 500 EMEA 2021
Includes 'proactive, innovative and commercial thinkers' and advises on transactions involving a variety of assets, from office space to hotels. Particularly active in assisting investment funds and REITs with acquisitions.
Real Estate | Legal 500 EMEA 2021
Approachable very professional in their approach to my company’s work. They understand timelines and are always open to discussion on how to speed up certain things.
Real Estate | Legal 500 EMEA 2021
Holmes O’Malley Sexton LLP provide legal advice with practical and commercial considerations.
Real Estate | Legal 500 EMEA 2023
Awards, Membership and Recognition
