DAC Beachcroft advises on landmark sale of London's Pinnacle
Published On: 20 February 2015
International law firm DAC Beachcroft has acted for the sellers on the sale of 22 Bishopsgate in London to an international consortium of investors represented by AXA Real Estate Investment Managers.
The firm dealt with the sale of the building, working in conjunction with Berwin Leighton Paisner (BLP), including advising the sellers on construction, finance and corporate aspects of the landmark deal.
The 60-storey site in central London will provide more than 1 million sq ft of prime, best-in-class Grade A offices, as well as retail space, restaurant and bars and a public viewing gallery at its summit. Construction at 22 Bishopsgate, formerly known as the Pinnacle, is due to begin at the end of 2015 with completion scheduled for the end of 2018.
The DAC Beachcroft team was led by London Real Estate partner Andrew Boulton with support from partners Paul McCartney and Elliot Lewis (Real Estate), David Manifould (Corporate), consultant Tony Lee, associate John Noonan and senior solicitor, Kali Yau.
Andrew Boulton commented: "Having acted on this project since the initial acquisition, we are delighted to have been involved in this latest stage of such a significant project for London."
Nabarro acted for the buyer.