Mishcon de Reya has advised Minerva on the sale of The Walbrook Building to Taiwan based Cathay Life for a headline price of £575 million.
The Walbrook Building is a high quality new office HQ building in the heart of the City comprising 410,000 sq ft of offices and 35,000 sq ft of retail and restaurant. Its sale is one of the largest investment transactions in London this year, completed on Wednesday.
City landmark Walbrook Building, designed by Foster & Partners, was developed by Minerva. Tenants include: AJ Gallagher; DNB Bank; GSMA; Jones Lang LaSalle; Vanguard; Virgin Active; Worldpay; Xchanging; Pret; and Waitrose.
The Mishcon team was led by Corporate Partner Ross Bryson and Real Estate Partner Stephen Hughes, with assistance from Real Estate Legal Director Nick Harris, Real Estate Associates Matthew Bowles and Rebecca Taylor, and Planning Consultant Wesley Fongenie. Assistance was also provided by Corporate Associate Shantanu Sinha and Corporate Assistant Samantha Barnett. Real estate Finance Partner Raji Bartlett and assistant solicitor Katie Lister advised on funding.
Stephen Hughes commented:
Having acted for the client on the £460 million sale of the St Botolph Building, we are delighted to have acted again for this longstanding client on the sale of another landmark city property.