Clifford Chance

Clifford Chance advises Helical on the sale of central London commercial property 25 Charterhouse Square

Global law firm Clifford Chance has advised long standing listed client Helical plc on the sale of its long leasehold interest in 25 Charterhouse Square, London, EC1 to a Real Estate Fund managed by global alternative investment manager, Ares Management for £43.5 million.

25 Charterhouse Square is a six-storey building providing 45,000 sq ft of modern office space and is home to a range of occupiers including marketing agency, Anomaly; the FTSE-listed betting and gaming company, Entain; and the communications consultancy, Hudson Sandler.

Clifford Chance has worked with Helical plc on the asset since the inception of the project in 2014, from the original site acquisition, the redevelopment and lettings, to the current sale.

The Real Estate deal team was led by Partner Ian Painter in London with support from Senior Associate Rose Tinker, construction advice was provided by Partner Ed Bretherton, Head of UK Real Estate Construction Marianne Toghill and Senior Associate Adam Waite; and Environment & Planning advice was provided by Head of Environment & Planning Nigel Howorth and Senior Associate Katie Kempthorne.

Ian Painter commented: "25 Charterhouse Square is yet another example of Helical's much sought after best in class developed assets. It is a well-located asset with great transport links coupled with superb sustainability credentials which has proven to be attractive to a broad tenant mix. We have been delighted to advise on this project from the beginning and to support Helical in the full life cycle of this development scheme over the last 10 years.

This is a further example of our work advising Helical in the Farringdon area where our team has supported on Kaleidoscope and The JJ Mack Building, and we are currently advising on the redevelopment of 100 New Bridge Street. Being an integral part of Helical's team in delivering these ground up development schemes is a fulfilling experience for us and one that brings great job satisfaction."