News & Events | News

Thursday 5th June 2008

European law firm SJ Berwin LLP's real estate division have advised The British Land Company PLC on the £112 million sale of Ludgate West, EC4, to a sovereign wealth fund.

Ludgate West is a nine storey, 130,000 sq ft mixed use development of office and retail, adjoining the established Fleet Place development located within close proximity to St Paul's and Blackfriars.

Newly constructed in the last quarter of 2007, the building is 69% let as the new head office of Charles Russell LLP.

Real estate partner Lewis Myers led the SJ Berwin team, assisted by associates Darren Rogers and Anna Ford. Partner Simon Staite and associate Zoe Strong of Nabarro advised the purchaser.

SJ Berwin previously acted on behalf of British Land on the disposals of 1 Fleet Place to Legal and General for £119.5 million and 10 Fleet Place to CIT Group for £109 million.

For further information please contact:

Lewis Myers, Real Estate Partner on +44 (0) 20 7111 2151, or by email lewis.myers@sjberwin.com

Jodie Yates, Business Development Assistant on +44 (0) 20 7111 5907, email jodie.yates@sjberwin.com    

Simon Staite, Partner of Nabarro on +44 (0) 20 7524 6278, email s.staite@nabarro.com    

Notes to Editors:

SJ Berwin LLP

• 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, Milan, Munich, Paris and Turin.
• SJ Berwin LLP was named ‘UK Firm of the Year’ at the Global Chambers Awards 2007 and Private Equity Team of the Year at the Financial News Legal Awards 2007. 
• SJ Berwin's Real Estate Division totals 150 staff  in London of which 23 are partners (3 of which are tax partners), and over 70 associates, encompassing the disciplines of Commercial Real Estate, Construction, Planning & Environment, Property Litigation, Real Estate Funds and Tax.  In addition there are 3 partners specialising in real estate in our Continental European offices.  There is an increasing emphasis on cross departmental activity with related areas of Banking and Corporate and also cross border / pan European real estate work, with our European offices.  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 was 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.  It was shortlisted Real Estate team of the Year in this year’s British Legal awards.
• Revenue from Real Estate represents approximately 21% of the firm's total revenue in London.