Mayer Brown advises on £60.75m deal for Old Street site
4 January 2013
London - Leading global law firm Mayer Brown has advised a Crosstree Real Estate Partners/Helical Bar plc joint venture in relation to the purchase of properties adjoining London's Old Street roundabout for £60.75m.
The property consists of two office buildings, 207 and 211 Old Street. There is also a retail parade to the west of 207 Old Street and Empire House at 136-144 City Road. The four buildings total 287,000 sq ft of existing space.
Jeremy Clay, head of the London Real Estate group, said: "Over the last year, we've seen an increase in joint venture deals in the real estate sector and given how the market is developing, I think we may see this continuing into next year. The Old Street area continues to attract growing interest from the domestic and international technology and creative sectors and presents exciting opportunities for investors so we're delighted to have advised Crosstree and Helical in this acquisition."
The team was led by Jeremy Clay, global head of the Real Estate group and included partners Anita Jones, Andrew Hepner and senior associate Iain Roberts as well as Corporate partner Richard Page and senior associate Connor Cahalane.