Clifford Chance

Clifford Chance advises Union Investment Real Estate GmbH on £148m Whitefriars sale in London

Clifford Chance has advised German real estate investment company, Union Investment Real Estate GmbH on the £148 million sale of Whitefriars, 65 Fleet Street, London EC4. The sale to The Employee Provident Fund of Malaysia (EPF) marks the first transaction that Clifford Chance has acted on for Union Investment in the UK.

The Whitefriars site, comprising office and retail space across two separate buildings of 20,759 sq m (223,458 sq ft), is currently let to law firm Freshfields Bruckhaus Deringer LLP.

Lead Clifford Chance Partner from London Real Estate, Mark Payne, comments: "We are very pleased to act for Union Investment on this sale of a landmark City Headquarters building.  The team looks forward to continuing to work with our client on their investments in the UK and working alongside Legal Counsel Dr Jan Kohlmann".

The Clifford Chance legal team advising Union Investment was led by London Real Estate Partner Mark Payne, assisted by Senior Associate Sian Thomas and Trainee Solicitor Peter Gomez. Head of Real Estate Tax, David Saleh, advised on the tax aspects of the transaction, assisted by Senior Associate William Reay-Jones.

The Norton Rose legal team advising EPF was led by London Real Estate Partner Lindsay Morgan.