DLA Piper has advised LabTech Investments Ltd, a technology and property co-working company, on the acquisition of the freehold of BUPA House, WC1.

This acquisition follows the announcement in October that it would be developing its Bloomsbury portfolio to create co-working spaces for SME businesses. BUPA House is situated next to a large existing holding in the Holborn area, which was purchased by Lab Tech Investments in September 2016 for approximately £300 million.

LabTech owns a property portfolio in London’s Camden area via Market Tech Holdings as well as a significant set of assets in central London including Holborn’s Sicilian Avenue. BUPA House is on the edge of Holborn and is a natural fit for the portfolio of LabTech, and this investment will help LabTech’s plans to further revitalise Holborn area and support its co-working vision.

The DLA Piper team was led by Real Estate partner Paul Jayson, together with senior associate Hannah Cheminais.

Paul Jayson said: “This is a major acquisition for LabTech and an important step for the Bloomsbury area, which has the potential to develop into a significant hub for the start-up community in London. We were delighted to work with LabTech on this project.”