Forsters advise on sale of Oxford student accommodation by BA Pension Fund to L&G Retirement Fund

Forsters has advised its long standing client the British Airways Pension Fund on the £37.1m sale of a modern 133 bedroom student development on St Aldates/Queen Street, Oxford, to Legal & General Retirement. 

The student accommodation is let on a 40 year RPI linked lease to Christ Church College and is part of a major central Oxford mixed use redevelopment which was managed by Reef Estates for BA Pension Fund and on which Forsters’ Real Estate, Planning, Construction and Tax teams have been advising since acting on the acquisition in late 2013. 

BAPF have retained the ground floor retail accommodation which is let to Sainsburys and Metro Bank.

Forsters CRE partner Magnus Hassett advised on the sale to L&G, with construction advice from senior associate Richard Spring.