Nabarro and Macfarlanes advise on £35 million purchase and forward funding
22 June 2007
Nabarro and Macfarlanes have advised Sireo Immobilienfonds No.4 SICAV and Development Securities respectively on a £35 million deal relating to the purchase by Sireo of the headlease interest in 10 St Bride Street, London EC4 and the forward funding of a 55,392 sq ft office and wine bar/restaurant development of the property to be carried out by Development Securities. The scheme was given planning permission on 14 June 2007.
Tim Steele, Partner at Macfarlanes said “Development Securities Plc is a relatively new client for our Development and Investment Team but a prestigious and highly-valued one. We look forward to continuing this relationship on the St Bride Street project and a number of others which are in the pipeline”.
Marc Franks, Partner at Nabarro said "We act for a wide range of inward investors and have enjoyed acting for Sireo who we have now advised on three deals together worth around £95m. Planning for St Bride Street follows hot on the heels of Sireo's purchase of the Motorola building at Stockley Park and their purchase of Eastcheap Court, London, EC3."
For further information, please contact:
Marc Franks Tim Steele
Partner Partner
Nabarro Mcfarlanes
020 7524 6000 020 7849 2570
m.franks@nabarro.com tim.steele@macfarlanes.com
Or
Charlotte Tandy
Lansons Communications
020 7490 8828
charlottet@lansons.com
