How does the Legacy model work?

Legacy will take on the gross value of your surplus real estate obligations in exchange for a payment, equivalent to your provision. Our team will then work to rapidly remove your liability.

What can Legacy do that my agent can't?

This is Legacy's sole focus. The structure, access to funds, and its authority to act, put it in a unique position to exit lease liabilities. Its quickest portfolio disposition so far was achieved in 24 months.

How much will it cost me to dispose of my portfolio?

This will be calculated as an amount similar to the provision, estimated by market feedback to pay for your surplus real estate.

Do I have to make the full payment on Day One of the transaction?

No, we can structure the transaction to allow for staged payments.

How does Legacy make its profit?

Legacy backs its ability to beat the market forecast and your FRS12/ IAS37 (accounting) provision, thus taking you off risk.

Can Legacy provide a guarantee?

Legacy can provide varying levels of security to the corporate, as well as a third party guarantee to support its structure as required.

Can I get my auditors to sign off this type of transaction?

Yes, our track record and advice supports this point, but it would be beneficial to discuss this with them.

Does the liability come off balance sheet?

This is ultimately a question you will again need to ask your auditors. In certain circumstances we have put in place the arrangements to achieve an off balance sheet solution.

What are the effects of the lease accounting changes?

We believe that the overriding effect will be to encourage corporates to divest themselves of their surplus real estate before the changes are introduced, (2015 is currently proposed). If you wish to understand more, we release regular blog posts on this subject, www.legacyportfolio.co.uk/blog.

Will Legacy take on a portfolio which has some/all leases outside of the US?

Legacy was founded in the UK where it has been very successful. Our US business was launched in February 2011, to provide our services to corproates on a global basis.

Do I need to inform my landlords of this change?

Once the portfolio has been transferred to Legacy, we will work to build relationships with landlords, suppliers and agents, and astutely manage any related issues that arise.