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Nabarro advises Mitsubishi Estate Company on £450m urban regeneration joint venture and purchase of River Plate House

4 June 2007

Nabarro has advised Mitsubishi Estate Company (MEC), one of the world's leading property investment and development companies, on two significant transactions:

  • the creation of a 50:50 joint venture with Legal & General to redevelop Central Saint Giles, the Renzo Piano-designed mixed-use scheme close to Centre Point tower, WC2; and
  • the acquisition of the much sought after River Plate House, 7-11 Finsbury Circus EC2.

Central Saint Giles
The project will comprise 400,000 sq ft of offices, 40,000 sq ft of affordable housing and 40,000 sq ft of private housing.  The scheme includes a public piazza and 30,000 sq ft of retail and restaurant space will complete the mixed-use scheme.
 
The development will have an end value of £450 million.
 
The Nabarro team was lead by Deborah Parry (real estate) and Christopher Luck (corporate) assisted by Joanne Wright (property), Andrew Elliott and Lindsey Moody (corporate) and Christopher Stanwell (planning).
 
Christopher Luck at Nabarro, comments:  "We were delighted to advise on this major urban regeneration project and MEC's investment in the fund which owns it.  The Mitsubishi Estate Company is a long standing client of Nabarro and we have assisted them with a number of commercial property investments in London, including the redevelopment and letting of Paternoster Square and the Bow Bells House joint venture."
 
Legal & General was represented by Berwin Leighton Paisner LLP: Antony Grossman (corporate) and Peter Rudolf (real estate).
 
River Plate House
Nabarro also represented MEC on the purchase of River Plate House, 7-11 Finsbury Circus.  The building is currently home to Mizhuo Corporate Bank, which has 6.5 years remaining on its lease and MEC may redevelop the building at the expiry of the lease.
 
The Nabarro team was lead by Caroline Maude assisted by James Beauchamp.
 
The seller of the property was represented by Robin Holmes and Samantha Waite at Travers Smith.
 
For further information, please contact:
 
Deborah Parry
Partner
Nabarro
020 7524 6000
d.parry@nabarro.com
 
Christopher Luck
Partner
Nabarro
020 7524 6000
c.luck@nabarro.com
 
Or 

Charlotte Tandy
Lansons Communications
020 7490 8828
charlottet@lansons.com