Nabarro advises Land Securities in series of transactions valued at over £1bn
24 September 2007
Nabarro has recently advised its major client, Land Securities, on a string of acquisitions and disposals with a total value of over £1 billion. The transactions included the purchase of Thomas More Square for £252 million, comprising one of the largest self-contained office estates in the City with tenants such as JP Morgan, Chase and Virgin Media and the acquisition of a 55% share in Time Square, EC4 for £144.4 million, the majority of which is let to law firm Decherts.
Disposals included the sale of Whitefriars Shopping Centre for £253 million to a joint venture with Henderson Global Investors UK shopping centre fund and a Canadian pension fund and the sale of the art deco Greater London House to Lazari Investments Limited for £165m. Sales of New London House, Gough Square and 20 Blackfriars Road amounted to a further £170m.
In addition to this just over 77,000 sq ft of Building 6 at New Street Square, Fetter Lane has been pre-let to law firm Speechly Bircham for a term of 15 years. This follows a pre-letting of most of Building 5 to law firm Taylor Wessing earlier this year.
Nicholas Vergette, Real Estate partner, who was involved in most of the transactions, commented “it has been a great run of transactions in a short space of time and we are very pleased to have successfully concluded them for Land Securities”.
For more information please contact:
Nicholas Vergette
Partner
Nabarro
T +44 (0)20 7524 6329
n.vergette@nabarro.com
