BCLP Advises Union on Largest Central London Office Deal of 2021

BCLP has advised two funds managed by German based fund manager Union Investment Real Estate on its acquisition of the corporate structure owning One Braham, BT’s future London headquarters comprising 325,000 sq. ft. in Aldgate, from Aldgate Developments for c£480m.

The transaction once again demonstrates BCLP’s market leading presence across the real estate sector as it is the largest single asset acquisition in London so far in 2021.  It also further reflects Union’s increased appetite for UK investment – we are also advising Union on a separate asset transaction which commenced shortly before completion.

The team was led by partners Kieran Saunders (Investment Management) and Damian Fleming (Real Estate), supported by associate director Will Hammon and associate Faizan Hashmi (Real Estate), associate Indy Sohal and trainee solicitor Camilla Grierson (Investment Management), partner Gareth Stringer and senior associate Emily Dickson (Commercial Construction), senior associate Sam Burstall (Planning & Zoning), partner Richard Harbot and counsel Victoria Wolf (Tax Advice and Controversy) and senior associate Giles Williams (Due Diligence).

Union client relationship partner, James Knox, commented “This shows the continued strength of interest of foreign investors in the Central London market, which we are well placed to capitalise on.”