Slaughter and May advised UD Europe Limited, a subsidiary of NTT Urban Development Corporation, on the acquisition of the freehold interest in 265 The Strand, London, WC2.

The company purchased the site from German fund manager MPC Capital. The purchase price of £77 million represented a capital value of over £1,000 per square foot. The property, located in the heart of Central London, has 75,883 square foot of office accommodation over nine storeys. Following refurbishment in 2001, the property was fully let to US law firm Covington & Burling LLP to 2021 and has since been partially underlet.
 
Contacts

Real Estate: John Nevin (partner), Rebecca Comerford (associate); Tax: William Watson (partner), Venetia Jennings (associate)

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