Leading global law firm Mayer Brown has advised British Land on their £129.6 million acquisition of the Clarges Estate in Mayfair. The site comprises over 119,000sq ft of existing office and retail space although British Land plan to redevelop the entire site.
The acquisition is expected to complete in November 2012.
Jeremy Clay, global head of the Real Estate practice, led the Mayer Brown team, with Corporate partner Richard Page, Real Estate partner Anita Jones, head of the Tax group Peter Steiner and Planning partner Michael Hutchinson. They were assisted by Real Estate senior associate Emma Cordiner, Real Estate associate Danielle Gerber, Corporate associate Gregory Joynson and Tax associate Ben Fryer. The seller was advised by Olswang.
Jeremy Clay, global head of the Real Estate practice, said: "This is a unique and exciting acquisition for British Land particularly given their plans to redevelop the entire site to create a landmark mixed use scheme in this prime location in London."