22 February 2013
Clifford Chance advises Hines on sale of One Grafton Street, Mayfair
Clifford Chance has advised Hines on the £70m sale of One Grafton Street, a 35,000-square-foot building in Mayfair, to Pembroke Real Estate via a Luxembourg limited partnership vehicle. One Grafton Street is fully occupied, having secured its final letting to AXA Private Equity UK Limited in November 2012, and commands some of the highest rents in the West End in the current cycle.
The Clifford Chance deal team was led by Real Estate Partner Mark Payne, supported by senior associate Nick Redman and trainee Robert Donell with tax advice provided by partner David Saleh and senior associate Alastair Alderton. The firm also advised on Luxembourg aspects.
Lead partner Mark Payne commented: "We were delighted to advise our client Hines on the sale of this West End property, which highlights the continued appetite for prime, high quality space in London."