19 September 2013

Forsters acts on acquisition of One Fleet Place

Forsters has advised a new client, leading Far East multinational Takenaka Corporation and its group companies, on the £112.5 million acquisition of the long leasehold title to One Fleet Place in the City of London, EC4 from LondonMetric.

Located directly above the City Thameslink station in the heart of EC4, the property comprises high-quality landmark office and retail accommodation. The asset has an annual rental income in excess of £6 million and forms part of the larger Fleet Place Estate.

The 163,940 sq ft of office space is fully let to law firm Dentons. The occupiers of the four retail and leisure units at ground floor level include Jamie's Wine Bar and Corney and Barrow.

Forsters Commercial Property partners Howard Gill and Glenn Dunn led on the acquisition, assisted by Peter Selwyn. LondonMetric was represented by Iain Hindhaugh of Jones Day.

Agents James Andrew International acted for the buyer and Jones Lang LaSalle acted for the seller.

Howard Gill commented: "Following hard on the heels of other recent acquisitions we have dealt with at Forsters including the recent acquisition of One Crown Place by leading Asian infrastructure conglomerate AlloyMtd Group, this transaction consolidates our position as preferred legal advisors for sophisticated overseas entrants into the UK market and demonstrates the continuing popularity of grade A stock in London with Far Eastern investors."



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