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SJ Berwin Advises New Joint Venture on Luxury £70 Million Residential Development
SJ Berwin have previously advised Londonewcastle on the establishment of Iconic which is a £100 million joint venture with Rugby Estates plc targeting design-led mixed use developments, and on the establishment of Harley Property Ventures which is a joint venture development fund with Lehman Brothers.
Nick Minkoff, real estate partner led the SJ Berwin team advising on the acquisition of Embassy Court assisted by Richard Lloyd and Emma Dewar. Tax partner, Pat Dugdale advised on the tax aspects of the transaction and banking partner Gillian Smith assisted by Simon Fulbrook advised on the financing.
Harvey Posener at GSC solicitors advised the vendor, Investment & Securities Trust.
Nick Minkoff commented, "We are delighted to work again with Londonewcastle and for the first time for Oakmayne Properties on this exciting project. We look forward to seeing the scheme progress through the next stages of planning and construction."
Notes:
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Tuesday 1st November 2005
Leading corporate and commercial law firm SJ Berwin's real estate division has advised residential developers, Londonewcastle and Oakmayne Properties on the acquisition of Embassy Court, a seven-storey 1960s residential block on Wellington Road, St John's Wood, London NW8 for £23.7 million. The developers are planning a landmark £70 million residential scheme targeted at wealthy international and domestic buyers. They plan to demolish the 36,000 sq ft block and replace it with a modern steel and glass structure containing 25 luxury flats.SJ Berwin have previously advised Londonewcastle on the establishment of Iconic which is a £100 million joint venture with Rugby Estates plc targeting design-led mixed use developments, and on the establishment of Harley Property Ventures which is a joint venture development fund with Lehman Brothers.
Nick Minkoff, real estate partner led the SJ Berwin team advising on the acquisition of Embassy Court assisted by Richard Lloyd and Emma Dewar. Tax partner, Pat Dugdale advised on the tax aspects of the transaction and banking partner Gillian Smith assisted by Simon Fulbrook advised on the financing.
Harvey Posener at GSC solicitors advised the vendor, Investment & Securities Trust.
Nick Minkoff commented, "We are delighted to work again with Londonewcastle and for the first time for Oakmayne Properties on this exciting project. We look forward to seeing the scheme progress through the next stages of planning and construction."
Notes:
- On 1 June 2005 SJ Berwin LLP, an English limited liability partnership, took over the business of the SJ Berwin general partnership. SJ Berwin LLP or an affiliated undertaking has an office in Berlin, Brussels, Frankfurt, London, Madrid, Munich and Paris.
- SJ Berwin's Real Estate Division totals 118 staff of which 22 are partners (3 of which are tax partners), and 50 assistants, encompassing the disciplines of Commercial Real Estate, Construction, Planning & Environment, Property Litigation, Real Estate Funds and Tax. There is an increasing emphasis on cross firm activity with related areas of Banking and Corporate. The division acts for blue chip clients including British Land, Royal Bank of Scotland, the Hilton Group, Brixton plc, AXA, The Crown Estate, Marks & Spencer and Gazeley.
- The Real Estate Team is Legal Business Real Estate Team of the Year 2005. It was also named "Real Estate Team of the Year" in the Lawyer Magazine Awards 2004, following its advice on the RBS/Canary Wharf transaction the highest-value property investment transaction in the UK in 2004.
- Revenue from Real Estate represents approximately 21% of the firm's total revenue.
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