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Clifford Chance advises Helical plc and Ashby Capital on letting at JJ Mack Building to Partners Group

16 November 2022

Clifford Chance advises Helical plc and Ashby Capital on letting at JJ Mack Building to Partners Group

International law firm Clifford Chance has advised long standing clients Helical plc and Ashby Capital on the letting of several floors of the new JJ Mack Building to Partners Group.

Partners Group, a global private markets firm, will take the sixth and seventh floors at 33 Charterhouse Street, EC1, for its new London office.

The JJ Mack Building was completed on 30 September 2022 and comprises 200,450 sq ft of offices with 5,511 sq ft of ground floor retail. The building is EPC A and is anticipated to receive both a BREEAM Outstanding rating and a NABERS 5* assessment for energy in use. It has been completed to a high specification incorporating market-leading technology and includes three large roof terraces with uninterrupted views over London. There are 426 cycle spaces and high-quality showers and changing rooms.

Clifford Chance has been working with Helical plc and Ashby Capital in relation to the JJ Mack Building since the outset including on the formation of their joint venture, the corporate acquisition of the development site, the associated development management arrangements, the construction and now this letting.

The Clifford Chance team was led by Real Estate Partner Ian Painter, who commented: "We have been delighted to work with Helical and Ashby Capital on another exciting best in class building in the increasingly popular and vibrant Farringdon area, which is now very well-connected following the opening of the new Elizabeth Line. The JJ Mack Building is finished to an extremely high standard and its sustainability credentials will be the envy of many real estate investors in a world that is increasingly focusing on ESG commitments. "

Clifford Chance has previously advised Helical plc and Ashby Capital on the acquisition, development, construction and leasing of One Bartholomew on the Barts Square Estate. Other recent transactions for Helical include the disposal in September 2022 of the Kaleidoscope, the Farringdon East Crossrail over-station development and TikTok's UK HQ, the acquisition and redevelopment of Baker & McKenzie's offices at 100 New Bridge Street and the disposal of 55 Bartholomew Close.

Gerald Kaye, Chief Executive of Helical plc, commented: "The letting to Partners Group shortly after completion of the building is a clear example of the bifurcation taking place in the market between the best-in-class office space and the rest."

Peter Ferrari, Chief Executive of Ashby Capital, said: "We are delighted to have partnered with Helical to create The JJ Mack Building. This early letting is testament to the building's quality, strong sustainability credentials and excellent location. The final opening up of the Elizabeth Line has added to its attraction by halving journey times across London."

Working alongside Ian the Clifford Chance team included Real Estate Senior Associates Melissa Jones, Holly Porter and James Law. London Head of Real Estate and Head of Planning and Environment Nigel Howorth, supported by Senior Associate Anneke Theelen, advised on planning. Construction advice was provided by Construction Partner Ed Bretherton, Head of UK Real Estate Construction Marianne Toghill and Senior Associate Adam Waite.