22 July 2004 – LAWFUEL – Read PRESS RELEASES for latest law announcements
Herbert Smith acts for Standard Life on acquisition of 198-202 Piccadilly and 33/34 Jermyn Street
Herbert Smith has acted for Standard Life Investments in connection with its acquisition of the partnership interest in 198-202 Piccadilly and 33/34 Jermyn Street, London SW1, from TR Property Investment Trust Plc for £23.3 million.
Herbert Smith also acted for TR Property Investment Trust Plc in relation to the re-gearing of The Crown Estate Headlease owned by the partnership.
Real estate partner Shelagh McKibbin led the transaction, and was assisted by partner Chris Tavener and Anna Boyer. Also involved were corporate partner Richard Lewis and assistant Julia Demmel, and on the tax side: partners Neil Warriner and Isaac Zailer, and assistant Perminder Gainda.
Herbert Smith acts for Standard Life in relation to the majority of their real estate portfolio in London and the south east; this was, however, the first occasion on which Herbert Smith had been instructed by TR Property Investment Trust Plc.
Shelagh McKibbin commented:
“We were delighted to act for Standard Life on what promises to be a high-profile office and retail development in this part of the West End. We were also pleased to gain our first instructions for TR Property Trust Investment Plc. Given the commonality of interest between the two clients in agreeing the re-gearing of The Crown Estate Headlease, this saved the clients both time and fees.”