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Clifford Chance advises Helical and The Baupost Group on the sale of 90 Bartholomew Close to La Francaise Real Estate Partners International

20 April 2020

Clifford Chance advises Helical and The Baupost Group on the sale of 90 Bartholomew Close to La Francaise Real Estate Partners International

International law firm Clifford Chance has advised Helical Plc ("Helical") and its joint venture with The Baupost Group LLC on the sale of 90 Bartholomew Close, Barts Square EC1 to La Francaise Real Estate Partners International ("LF REPI").

The recently completed six-storey building provides 24,013 sq ft of office space, as well as a 6,414 sq ft restaurant, all housed behind an attractive retained Victorian façade. The five office tenants span a range of industries including law, software design and business consultancy.

Commenting on the transaction, lead Partner Ian Painter said: "The sale of 90 Bartholomew Close to LF REPI demonstrates the continued appetite from international investors for well designed, multi-use properties in London. Given the ongoing uncertainty in the wider economy as a result of COVID-19 and the associated lockdown, we were very pleased to assist Helical and The Baupost Group in securing the sale, which is one of the most significant deals in the market since the COVID-19 outbreak."

Clifford Chance has a long-term relationship with Helical and its joint venture partner, having advised them on the leasing of the office and retail elements of 90 Bartholomew Close. The tenants include management consulting firm Sia Partners, law firms Northridge Law and Constantine Cannon, executive search firm Eric Salmon & Partners and technology company Peakon. The ground floor and basement retail unit was pre-let to top rated restaurant LINO by celebrity chef Richard Falk.

Clifford Chance has been involved in the Barts Square site for over nine years as part of its work with Helical, which highlights the firm's focus on complex, high value transactions and its ability to deliver a seamless service to clients on issues involving corporate, construction, planning and finance aspects.

Clifford Chance Real Estate Partner Ian Painter led on the transaction with support from lawyers Ivan Yuen and Melissa Sykes. Construction input was provided by Head of UK Real Estate Construction Marianne Toghill, Senior Associate Edward Bretherton and lawyer Clare Simmons. Planning input was provided by Head of London Real Estate, Environment & Planning Nigel Howorth and lawyer Anneke Theelan. Real Estate Finance input was provided by Co-Head of the Global Real Estate Sector Jane Cheong Tung Sing and lawyer Marcus Tadros. Employment input was provided by Tax, Pensions and Employment Partner Alistair Woodland.