Mayer Brown advises Taikang Life Insurance Company on purchase of Milton Gate
13 January 2015
London - Leading global law firm Mayer Brown has advised Taikang Life Insurance Company on the purchase of Milton Gate. It is the first investment in the UK real estate market for the Chinese life insurance firm.
Taikang Life acquired the prime 201,666 sq ft of office space located at 60 Chiswell Street, from AGC Equity Partners and is fully let to law firm Addleshaw Goddard.
Martin Wright, European Head of Real Estate at Mayer Brown, said: "We are delighted to have acted for Taikang Life on its first UK purchase. Taikang Life was one of the first Chinese insurers to be given permission by its government to make overseas investments and now that a number of other Asian national governments have eased their investment regulations, we expect to see more Asian insurance companies entering the market in 2015."
The Mayer Brown team was led by European Head of Real Estate, Martin Wright and included Real Estate finance partner Andrew Hepner and senior associate Parita Wooding; Corporate & Securities partner Richard Page and associates Jonathan Musker and Amy Tregunna; Environment & Planning partner Michael Hutchinson and Tax Transactions & Consulting senior associate Simon Slade.
Mayer Brown has recently acted for a number of overseas investors on high value UK acquisitions, including advising Gaw Capital Partners on the acquisition of Exchange Tower in London’s Docklands for £191 million and China Overseas Holdings Limited on its forward purchase of Carmelite Riverside, London for £143 million.