The success of the risk mitigation is predicted on focus and extensive experience, not rocket science

Legacy Portfolio is a dedicated investor in the emerging market for the acquisition of lease liability portfolios. Over the last three years, Legacy has developed a method of structuring and executing transactions of this nature that leads to significant advantages for both vendor and purchaser.

The Legacy Portfolio solution is unique in offering the corporate with the comfort of a limited guarantee against any future privity risk and has invested in creating the best proprietary solution for UK companies. Working with our partners, we have modelled over £1 billion of liabilities, to resolve a number of portfolios, moreover, our expert understanding of corporates' tax position enables us to deliver the correct solution for each portfolio.

Current drivers include:

• Intensifying rigour of account treatment for onerous liabilities (FRS 12 / IAS 37) and the move towards more transparent accounting provides the impetus to search for solutions to the lease liability portfolio problem
• Net liabilities attaching to UK leasehold properties that are surplus to the requirements of the previous occupiers are estimated to exceed £100 billion*
• Organisations are now focusing on the economic and management burden associated with these liabilities
• Lease liabilities, like closed pension schemes, play no role with the day to day of corporates

*CORE Report 2004 FraserCRE