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Lease/Lettings

Shoosmiths advises AEW Europe on landmark anchor letting at Festival Place, Basingstoke

22 Apr 2016

Shoosmiths has advised AEW Europe (AEW) on a new landmark letting of an anchor store to existing tenant Next at Basingstoke's Festival Place shopping centre.

Next is increasing the size of its presence at Festival Place by relocating within the centre to a brand new two-floor store, almost doubling its floor space to c. 48,000 sq ft. The new store, which is expected to open in Q4 2016, will enable the brand to better showcase its extensive fashion, kidswear and Next Home ranges, and will also include a café within the store.

Shoosmiths advises on major Northern rail deal

21 Apr 2016

Shoosmiths has advised long-standing clients, Porterbrook Leasing Company, on a deal to provide 9 different fleets of rolling stock for use over the Arriva Trains Northern routes.

The Shoosmiths' team was led by partner Martin Fleetwood. Martin is a member of the Shoosmiths' Transport And Infrastructure Team. The team advised Porterbrook on the master lease agreement, the leasing contracts for all 9 fleets, as well as on the agreement for the refurbishment works and the direct agreement between Porterbrook and the Department for Transport (DfT).

Dentons advises Whirlpool Corporation on the lease contract for its EMEA headquarters in Milan

20 Apr 2016

Dentons, represented by Partner Maria Sole Insinga and Senior Associate Mileto Giuliani, assisted Whirlpool Corporation in the negotiation of the lease contract for its new offices in the Milan Expo district in Pero.

The new offices, which cover an area of 12 000 sq. m., will be Whirlpool’s headquarters for EMEA (Europe, Middle-East and Africa) and will host its core business functions. From these offices employing 500 people from 28 nationalities, the company will manage the activities of 24 000 employees across more than 30 countries and 15 industrial sites.

Shoosmiths acts on major office letting in Chatham Maritime

19 Apr 2016

Mabey Property Limited on a significant leasing transaction that will see the client's Chatham Maritime premises, Compass South, leased to office facilities provider Portal Chatham LLP for more than 15 years.

The building, one of few spaces of its size and quality available in the region, provides 32,890 sq. ft. (3,055.5 m²) of office space and 160 allocated parking spaces. It has been let to Portal and will also be occupied by Vanquis Bank. Mabey now intends to market the property for sale and is seeking offers in excess of £6 million.

BLP acts for King’s Cross Central on pre-lettings for New Look and XTX Markets

12 Apr 2016

Berwin Leighton Paisner (BLP) has advised long-standing client King’s Cross Central Limited Partnership (KCCLP) led by Argent (as the development/asset manager for the King’s Cross estate) in relation to two pre-lettings at the R7 building on Handyside Street, London.

The deals involved the pre-lets of 123,000 sq ft over seven floors and reception space to fashion retailer New Look, as well as 28,208 sq ft over three floors to electronic liquidity provider XTX Markets.

Shoosmiths advises IM Properties from acquisition to redevelopment and letting of 55 Colmore Row

29 Mar 2016

Shoosmiths has advised IM Properties on their acquisition, redevelopment and letting of part of 55 Colmore Row to law firm Pinsent Masons.

IM Properties, one of the UK's largest privately owned property groups, is letting the first and second floors of office space to Pinsent Masons, a total of 40,000 sqft.

Shoosmiths advises Minerva Education on new London senior school

23 Mar 2016

Shoosmiths has advised independent sector schools group, Minerva Education, on leasing a landmark new site on Piccadilly which will boost the leading education group's London portfolio.

Adding to its existing group of five independent schools, Minerva has agreed a 30 year lease term on 106 Piccadilly, a 23,918 sq ft. Grade I listed building, opposite Green Park. Subject to planning, the site - currently Limkokwing University - will now be sympathetically restored to become a much-needed new independent senior school for London.

Wikborg Rein have assisted Chinese ICBC Financial Leasing in the first co-operation with Brazilian Petrobras

22 Mar 2016

A team of international lawyers from Wikborg Rein have successfully acted as counsel to ICBC Financial Leasing Co., Ltd. (ICBCL) in the sale and leaseback transaction with Petrobras for the semi-submersible drilling rig “Petrobras-52” located at the Roncador field in the Campos Basin close to Rio de Janeiro.

The 10 years sale- and leaseback transaction worth $1 billion forms part of the cooperation agreement which was signed between ICBC and Petrobras during the Chinese Prime Minister’s visit to Brazil in May 2015.

Charles Russell Speechlys Advises CareTech on Ground Breaking Deal

11 Mar 2016

Charles Russell Speechlys’ real estate team in Guildford has advised CareTech Holdings plc, one of the leading providers of specialist care in the UK, in an innovative transaction to raise £30 million in cash to fund its next growth phase. Under the terms. Under the terms of the agreement, the freehold to 41 CareTech properties, predominantly in London and the South East, have been transferred to Alpha Real Capital’s managed funds in exchange for cash and new ground rent leases for a 150 year term at a yield of 3.4%.