25 September 2014

Mishcon de Reya advises on sale of landmark docklands scheme

Mishcon de Reya has advised Commercial Estates Group (CEG) on the sale of Hertsmere House, Canary Wharf to Chinese state-owned developer Greenland Group for circa £100 million.

The site has planning permission for a 242 metre high residential tower (set to become the tallest in the UK) comprising up to 700 apartments, together with ancillary retail, leisure and commercial space.

Greenland Group, which is one of world's largest developers, made its first London purchase in January this year with the acquisition of the Ram Brewery in Wandsworth - a 7.8 acre site with planning permission for 661 homes.

Mishcon de Reya has been involved from the outset advising CEG on its acquisition of Hertsmere House in 2005 and assisting throughout on development matters as well as rights to light issues.

Head of Real Estate Nick Doffman led the Mishcon team with assistance from Nick Harris (Associate) and Nicholas Kirby (Solicitor). Philip Freedman CBE, QC (Hon) (Partner) advised on development, Wesley Fongenie (Consultant) advised on planning, and Emma Macintyre (Legal Director) and Jonathan Warren (Associate) advised on rights to light.

Commenting, Nick Doffman said: "We are delighted to have worked on what will be a landmark scheme for London. We acted for CEG on the original purchase and have continued to advise them throughout. We now look forward to seeing this exciting building make its mark on London's landscape."