Mishcon de Reya SUMMER 2009 Cover
Property Matters
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Client News

Real Deals

A selection of deals the Mishcon de Reya real estate team has advised on over the last year.

Capital and Counties
Liberty International subsidiary, Capital & Counties’
purchase from Land Securities of a 50% stake in one of West London’s largest properties, Empress State Building London, SW6. The half share in the 470,000 sq ft 30 storey building was sold for £107.75 million. The former Ministry of Defence building is wholly let to the Metropolitan Police at a current rent of £12.27 million p.a.

Empress State Building

“With long-standing expertise in the property sector, Mishcons is nonetheless a forward-thinking and dynamic firm that offers a rounded service thanks to its well co-ordinated capabilities in the corporate, finance and tax sectors.” - Chambers 2009

Matterhorn Capital
Simon Conway and Anthony Lyons on Matterhorn Capital’s joint venture acquisition with Brett Palos to acquire the “O2” Leisure and Retail scheme located in Swiss Cottage, North London for £92.5 million from the X-Leisure Fund whose investors include Hermes Asset Management and Capital & Regional. The development is over 300,000 sq ft of leisure and retail with anchor tenants: Sainsbury, Homebase, Esporta and Vue Cinema.

Strategic planning advice to Barwood LaSalle Land Limited Partnership on an application for a major sustainable urban extension at Aylesbury for 3,000 homes, employment uses and community facilities on 176 hectares.

Deramore Property Group on the letting of the first two stores in Clapham and Brighton to Jamie Oliver’s latest venture, Recipease. Private investor purchase and leaseback to a major household name retailer of a total of 25 retail stores. The total value of this transaction was £97 million.

 

Advising property fund manager Meghraj and Travelodge who have recently announced the launch of a £100 million fund, Tamesis, to acquire going concern hotels from existing operators, banks and administrators. The Fund will seek to raise £40 million of equity, supplemented by £60 million of borrowings.

Marshall Street

Vinyl - Marshall Street Regeneration Limited acquiring a prestigious Grade II listed Art Deco building, for a 19,000 sq m development site, at Marshall Street in the heart of Soho London W1 from Westminster City Council. We have over the year completed drawdown of the land from Westminster and dealt with the funding from RBS and OCBC Bank. Soho will benefit from a high quality refurbished and upgraded leisure centre that is due to be available for public use by early 2010.