London — Mayer Brown has advised Kingswood Edge Limited, the joint venture formed by Hong Kong-based Wing Tai Properties Limited and Manhattan Garments Group, on its purchase of 30 Gresham Street, London for a price in excess of £400 million.
Kingswood Edge purchased the property in its entirety from Samsung Life Insurance.
30 Gresham Street is a 400,000 sq ft office building occupying a 1.5 acres site in the heart of the City of London. It is the headquarters of Commerzbank and Investec, and is let for a further 10 years.
Chris Harvey, UK head of Real Estate at Mayer Brown, commented: "We are delighted to have acted for Kingswood Edge on one of the largest UK real estate transactions of 2018. There remains a strong demand from Asian buyers for prime UK properties in Central London."
The Mayer Brown team was led by Chris Harvey and included: Real Estate counsel Robert Patterson, senior associates Sam Harrison and Tim Collier and associate Erin Brayshaw; Corporate & Securities counsel Sam Webster, associate Katie Bunce and trainee solicitor Samuel Bold; Tax Transactions & Consulting partner Ben Fryer and senior associate Kitty Swanson; and Environmental counsel Tim Baines.