Forsters advises the Crown Estate on JLL HQ acquisition
Forsters has advised the Crown Estate on the acquisition of the long leasehold interest in 30 Warwick Street, London W1 in a joint venture arrangement with Norges Bank Real Estate Management. The purchase price was £115 million, with the Crown Estate acquiring a 75% interest and Norges the remaining 25%. The Crown Estate also owns the freehold title and will be asset managing the building.
The 75,000 sq ft Grade A office asset, which was comprehensively refurbished in 2014, is the UK headquarters of global commercial real estate services group, Jones Lang LaSalle.
Commercial real estate partner, Guy Jordan, advised on the purchase, assisted by senior associate Ed Tennant.