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Clifford Chance advises Rothesay on financing Lendlease's purchase of 21 Moorfields from Landsec

10 October 2022

Clifford Chance advises Rothesay on financing Lendlease's purchase of 21 Moorfields from Landsec

International law firm Clifford Chance has advised Rothesay Life PLC (‘Rothesay’) on providing a 10 year senior term loan to Lendlease for the acquisition of 21 Moorfields for £809 million. 21 Moorfields is a 568,500 sq ft premium office development in the City of London.

21 Moorfields, which is located above Moorgate station, is fully pre-let to Deutsche Bank and will be the bank's new London headquarters. Practical completion of the development is expected in Q1 2023, with targeted sustainability ratings of BREEAM Excellent and LEED v3 Gold.

Clifford Chance is recognised as a market leader in real estate financing work, with the London team retaining Tier 1 rankings in the Legal 500 2023 for real estate finance, real estate and construction.

The cross practice Clifford Chance team advising on the transaction was led by Global Financial Markets partner Laura Smallcombe and included senior associate Gavin Mooney, associate Felicity Flynn and trainee Lauren Thomson. The real estate elements of the transaction were led by Alis Pay and Sarah Dawson, the tax elements by Jemma Dick and Alex Shaw, construction by Ed Bretherton and Simon Smith and planning by Katie Kempthorne. Walkers advised on the Jersey law aspects of the transaction.