9 October 2017

Forsters advise on sale of the Interchange Building, Croydon

Forsters has advised Canmoor and CarVal Investors on the sale of an extensively refurbished 180,000 square foot landmark office building, the Interchange Building in Croydon. It was acquired by CCP 5, the new perpetual core plus fund advised by pan-European real estate investment manager Tristan Capital Partners, from a fund advised by CarVal Investors.

The Grade A, 180,000 sq. ft. building is arranged over nine floors and is currently occupied by a strong mix of high quality tenants including EDF Energy, Siemens plc, and Vitality Corporate. The building was extensively refurbished in 2014 and provides over 420 car parking spaces.  

Commercial Real Estate partner Andrew Crabbie advised on the sale, assisted by Hannah Rickard. Senior associate Alastair Laing advised on corporate aspects of the transaction with Head of Construction Sarah Cook advising on construction matters assisted by Phillipa Cooper. Tax partner Elizabeth Small advised on tax matters. Forsters also advised throughout the ownership of the asset, including in relation to the refurbishment and letting programme.

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