London Business School expands at Regents Park
Forsters has advised longstanding key client, The Crown Estate, in relation to the grant of a new headlease and the regearing of an existing leasehold interest to expand the London Business School's campus at Regents Park in central London.
London Business School ("LBS") has entered into a new 128 year lease of 27 Sussex Place, which is currently home to the Royal College of Obstetricians and Gynaecologists ("RCOG"). As part of the transaction, RCOG surrendered their existing lease but will continue to occupy the 60,000 sq ft property courtesy of a leaseback from LBS for a three year term. The building is adjacent to LBS's current Sussex Place campus where planning permission has recently been secured to increase the site from 200,000 sq ft to 300,000 sq ft. As part of their redevelopment plans, LBS and The Crown Estate also regeared the existing headlease of the Sussex Place campus for a further 125 year term.
Commercial Real Estate partner, Guy Jordan, advised The Crown Estate in relation to the transaction.
— Forsters LLP (@ForstersLLP) March 1, 2017