International law firm Olswang’s London Real Estate team has advised Cornerstone Real Estate Advisers Europe on the purchase of the Davidson Building, a landmark Edwardian building in the heart of London’s Covent Garden. The £66.2m investment forms part of Cornerstone’s strategy to establish a portfolio of core real estate assets across Europe.

The 44,200 square-foot (sqft) Davidson Building comprises 31,800 sq ft of offices and 12,400 sq ft of retail space. Features include a double-height reception with architectural space, cantilevered atrium balconies on the second and third floors and external terraces on the fifth floor. The building is fully let to six tenants, including Astus, the media barter company, First Utility, the independent energy supplier, and the British Computer Society, the Chartered Institute for IT. The ground floor retail unit is let to Sainsbury’s.

Cornerstone is a long-standing client of Olswang’s, with the firm having previously acted for them on a multitude of real estate matters since 2004.

Olswang Real Estate Partner Martyn Needham commented: “It was a pleasure to again advise Cornerstone on its latest purchase of the Davidson Building, and we look forward to continuing our close relationship in the years to come.”

Partner Martyn Needham led the team that included Real Estate Associates Toby Gribbin and Emily Flaxman and Construction Associate Louise Forbes.