Rufus Ballaster

Rufus Ballaster leads the commercial property team at Carter Lemon Camerons LLP, and is a recognised authority on landlord and tenant issues, speaking and writing on rent reviews, the implications of the Landlord and Tenant Act 1954, lease renewals and commercial property investments.

Rufus’ expertise is particularly valuable when leading a team on complex commercial property transactions, many of which involve syndicated lending, cross-collateralisation and multi-occupancy issues. His detailed technical legal knowledge and ability to number crunch are great assets both in property transactions and as the firm’s finance partner.

Recent transactions include:

• The purchase of an investment opportunity by an off-shore company of a City office block let to a blue chip investment bank at a purchase price in excess of £300 million
• The purchase through the vehicle of a share deal – the clients buying the SPV set up offshore by the developer of a newbuild £3M flat
• Helping a client with a conditional agreement for lease terminate that in a falling market and renegotiate so the business could stay on but on more acceptable terms
• Using forfeiture and relief from forfeiture to enable flat tenants to hold all reversionary interests in their building despite a 999 year lease being “in the way” which would have been costly, slow and complicated to enfranchise against the absentee owner who had not been heard from in over 10 years

Highlights in his career include:

• Stepping into the panel of speakers at a course for which he was understudy – at only 3 years qualified
• Representing most of the sets of barristers chambers at one of the Inns of Court in lease renewals with that Inn, using the 1954 Act and trying to hold the interest and cooperation of those multiple clients, some of whom were also decision makers for the landlord as Benchers
• The purchase of an SW1 residential development opportunity (offices to flats) by an off shore company at a purchase price in excess of £120M (for a group of clients for whom previous deals included single or multi-let office sales and purchases at values ranging from £7M to £220M)

He combines a client focused approach on projects such as buying shares in companies to access their property assets with a more holistic view of legal issues. That wider perspective is clearly visible from his writing (having contributed to a number of journals and been a co-author of the Landlord and Tenant Factbook) and from his role as a lecturer. His seminars qualify for providing continuing professional development to both solicitors and surveyors on commercial property issues. He also sits on panels with the major course providers and runs seminars for small groups for colleagues, clients and contacts of the firm.

When asked what he likes most in his work, Rufus will talk of his role as a “trouble-shooter”. He enjoys the challenge when asked by clients and colleagues what he thinks about something and trying, with them, to work up structures or strategies which will get a desired result as the lowest sensible cost/ tax-hit/ risk.

Rufus was educated at Reading School, Wadham College Oxford and Chester College of Law. He qualified as a solicitor in 1988 and has, throughout his career, worked in City of London firms on commercial property matters.

Outside the office Rufus has a full and active life with commitments to two Christian Churches, family (wife and three children), Royal Bank of Scotland Rugby Football Club (for whom he plays as a second or back row forward) and keeping in touch with friends and his wider family.