Olswang has advised Kaupthing ehf on the sale of its 50 per cent interest in the Fitzroy Place development to Ashby Capital LLP. The sale valued Kaupthing's stake at £217.1m, with Aviva Investors retaining its 50 per cent share of the joint venture which owns Fitzroy Place.

Fitzroy Place comprises approximately 250,000 sq ft of office and retail space as well as a health centre and 290 apartments. Olswang had originally advised Kaupthing on the establishment of the joint venture with Aviva Investors in 2010 and the subsequent development of the scheme.

Corporate Partner David Bunker commented: "With Olswang having worked with Kaupthing since the Fitzroy Place development's inception in 2010, we are delighted to have been given the opportunity to act on its sale to Ashby Capital. We worked closely with the Kaupthing team on the execution of this complex transaction, and are pleased to have helped them get it across the line."

David Bunker and Olswang Partner and Head of Real Estate Jonathan Lewis led the Olswang team on this transaction, alongside Tax Partner Graham Chase, Tax Senior Associate Jacob Gilkes and Corporate Associate Matthew Jenkins.