Baker & McKenzie has advised the Canadian Government on the disposal of its Grosvenor Square High Commission building; the latest foreign diplomatic property sale in London.
 
A team led by London head of Real Estate Stephen Turner and senior associate Ben Farnell, advised on the due diligence and negotiation of the £306,000,000 disposal of Macdonald House to Lodha Developers UK Limited, the UK subsidiary of leading Indian property developer, Lodha Developers Private Limited. Following an exceptionally high level of interest from bidders and a rigorous evaluation process, sale contracts were exchanged on 28 November 2013 and signed by Gordon Campbell - the Canadian High Commissioner to the United Kingdom.
 
Stephen Turner said, "We were very pleased to advise Canada on this significant project, which follows hard on the heels of the sale of the nearby US Embassy and US Naval offices early this year.  It is further evidence of the extremely high demand for prime real estate investment opportunities in the UK and creates a new high water-mark in the sale of diplomatic properties in London."
 
Baker & McKenzie has represented the Canadian Government on its real estate portfolio for a number of years.  In November 2012, the team advised the Canadian Government on the acquisition of their new High Commission premises adjoining Canada House, Trafalgar Square, Canada’s traditional central London diplomatic home, where they will now be relocating.
 
Ben Farnell said, "This sale represents the commencement of the final phase of the relocation of the Canadian High Commission, a project which I am delighted to have been involved in from its inception in 2007 and which will see Canada consolidate its presence in London once again in Trafalgar Square."

The team also included senior associate David Jamieson and associates Amy Trotter and Sam Harris.

Baker & McKenzie's Real Estate group comprises approximately 400 lawyers globally. Our London Real Estate practice advises clients on all aspects of real estate activity including acquisitions and sales, leasing, tax structuring and real estate investment, as well as offering technical knowledge in development and construction projects, planning law, outsourcing, environmental and health and safety law. It is particularly well-regarded in the area of commercial leasing, particularly in office premises, and the hotel and leisure industry.