International law firm Gowling WLG has advised Singapore based investment company and luxury hotel owner Stamford Land Corporation Ltd on its £260m acquisition of 8 Finsbury Circus from Mitsubishi Estate London Limited.
The Singapore Stock Exchange listed Stamford Land made its first UK commercial property investment by acquiring a 60% interest in 8 Finsbury Circus, with Ow Global Pte. Ltd. acquiring the remaining 40% interest, for the aggregate consideration of £260 million.
8 Finsbury Circus is an award winning, highly specified, prime central London freehold property having a net lettable space of over 177,000 sq. ft. of Grade A office and retail space arranged over a total of 10 floors. Mitsubishi Estate London Limited, the previous owner, completed its redevelopment in 2016. 8 Finsbury Circus is currently fully let to 4 office and 1 retail tenant, which includes well-established investment houses, with a WAULT close to 14 years.
Robert Adam, partner at Gowling WLG, said: "This is an important deal for Stamford Land as it represents their first step in the UK real estate investment market. Our team worked hard in unison with the client and its other advisers to deliver this significant acquisition within a challenging 5 working day period and we look forward to helping Stamford Land as they look to build a portfolio over the coming years.".
Real Estate Partner, Robert Adam led the team and was supported by Sanjeet Liddar, Giles Ekblom, Natasha Brown, Laura Kutnick, Sarah Stephens, Hannah Cooper and Marcus Diviney in real estate, Ben Stansfield in planning, Tarfa Ahmad, Susannah Fink and Hannah Daeche in construction and Lee Nuttall and Michael Sweeney in tax.