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SJ Berwin Advises Hines UK in Major City Purchase

Friday 9th August 2002

SJ Berwin acted for Hines with their £53.5 million purchase of the Cannon Centre in the City of London.

The Cannon Centre is above and adjoining Cannon Street station in the heart of the City and tenants in the office portion include Prudential, Martineau Johnson and MWB Business Exchange.

Property partner Sally Pinkerton led a large cross departmental team at SJ Berwin dealing with the acquisition including the setting up of a limited partnership and the banking and corporate aspects of the deal. The whole transaction was completed within a very tight timescale.

Sally says "This represents a major acquisition by Hines, one of the world largest real estate companies. We are delighted to be involved with Hines and with this project which will now involve the setting up of a joint venture with Railtrack to redevelop both the station concourse and the office above and to provide prime city office space of more than 300,000 square feet".

Sally was also the lead partner in the major acquisition of Cutler's Gardens for Peabody last year -- see notes to editors for more information.

Sally's team included senior assistants William Boss and Nick Minkoff, (Property) partner Pat Thomas and assistant Duncan Field (Planning), partner Simon Rose and assistant Sam Carney (Tax), assistant Adrian Brown (Financial Services), partner Raji Bartlett (Banking) and assistant Tandeep Minhas (Corporate Finance).
Dechert (Barry Thorne and Andrew Hutchinson) represented the vendor Marylebone Warwick Balfour. Richard Light and Matthew East of Stephenson Harwood advised the Royal Bank of Scotland.

Notes:

• Sally Pinkerton also led a large multi-disciplinary team from SJ Berwin last year when acting for Peabody Global Real Estate Partners in connection with the major purchase of Cutlers Gardens, a unique managed office estate located in the heart of the City of London opposite Broadgate and Liverpool Street Station for £300 million. Peabody is a real estate private equity fund co-sponsored by J P Morgan Chase & Co. and The O'Connor Group, a New York based real estate investment firm. The estate now provides 609,000 sq. ft. of offices with ancillary retail, restaurants and a health club.

 

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