Mayer Brown advises CMC Markets plc on new London Headquarters
20 January 2010
20 January 2010 - Leading international laws firms Mayer Brown International LLP and K&L Gates LLP have advised their respective clients in relation to a letting by Henderson Global Investor's Central London Office Fund ("CLOF") (represented by K&L Gates) to CMC Markets plc ("CMC Markets") (represented by Mayer Brown) on CMC Markets's new headquarters in London.
CMC Markets is a global financial trading and software company, with 15 offices worldwide, offering financial spread betting, Share CFD and Foreign Exchange Trading.
A closed-ended Jersey Property Unit Trust, CLOF was launched in March 2004. Principally investing in the City, West End and Mid Town, the portfolio now includes 19 assets with a combined portfolio value of £550 million.
The law firms advised on the letting of approximately 54,000 square feet of high quality office space at 133 Houndsditch in London on 10 year leases, the majority of which will be CMC Market's trading floor. The letting represents CMC Market's largest real estate deal in the UK in the last 10 years.
CLOF acquired the building in August 2006 and undertook a substantial refurbishment in 2007 and 2008. The addition of CMC Markets as a tenant means that CLOF has now completed its letting of the majority of the building.
Nick Marshall, Real Estate partner at Mayer Brown said: “CMC’s HQ relocation secures their long term presence in the City and sends a positive message to the real estate industry that corporates are prepared to commit significant resource to secure the best deals. Our dedicated Corporate Real Estate group worked seamlessly with the entire Project Team to deliver a smooth closing to a technically complex deal.”
Wayne Smith, Henderson client relationship partner at K&L Gates, said: "Henderson was particularly pleased to complete this letting which demonstrates a positive start to 2010 in the central London office market. The legal teams adopted a highly collaborative approach in order to implement the technical aspects in a very short timescale."
The Mayer Brown team was led by Nick Marshall with associates Rose Meller, Graham Winkley and William Thompson. Also advising were Construction associate Stephen Natoli and Tax partner Peter Steiner.
The K&L Gates team was led by Real Estate partner Chris Major, with Construction assistant Laura Burrows and Tax partner Peter Davies.
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