Freshfields Bruckhaus Deringer has advised Almacantar on the forward purchase of two significant office developments at One and Two Southbank Place from Braeburn Estates, a joint venture between Canary Wharf and Qatari Diar.

The transaction at over £550 million is the largest property deal ever completed on London’s South Bank.

The buildings form part of the 1.5m sq. ft. Southbank Place redevelopment being undertaken by Braeburn Estates, which occupies a prime five and half acre site on the south side of the River Thames. As part of the transaction, One Southbank Place is fully pre-let to Shell International.

The Freshfields team advising on the deal was led by Real Estate partner Alex Watt, alongside senior associate Roger Schofield and associate Kate Hobday. They were supported by Partner Jane Jenkins on construction and partner Helen Lethaby on tax.