UK: Clyde & Co Acts On International Consortium’s Purchase Of London South Bank Site For £308 Million
Last Updated: 17 April 2015

An international consortium led by Native Land and comprising Singapore's Temasek and Hotel Properties Limited and Malaysia's Amcorp Properties Berhad have formed a joint venture to acquire Sampson House and Ludgate House from The Carlyle Group, for which contracts have been exchanged.

The transaction will result in the creation of an iconic new Bankside Quarter – a 1.4 million square foot residential, office and retail development. Planning consent for the 5.3 acre site has been secured for 489 residential units and 280,000 square feet of office space, together with retail, leisure and cultural facilities.

Chief Executive of Native Land, Alasdair Nicholls, commented on behalf of the consortium:

"The development of the Bankside Quarter will set the seal on London's finest emerging location. The consortium which has been assembled to deliver the project represents the best in international development and funding expertise. We are confident that we can deliver a major new destination for London, adding to the strong foundations already laid in the Bankside area."

Clyde & Co, as lead counsel, is advising the consortium on all aspects of the acquisition. Clyde & Co Partner, Martin Quicke, who is leading Clyde & Co's advice on the project, says:

"We are delighted to assist the consortium with this project, which, with the profiles and track records of the investors involved, is set to deliver one of the most significant developments in Central London in recent years. We feel it showcases Clyde & Co's world-class capability to advise on and deliver the legal aspects of major development and infrastructure projects."

The Clyde & Co project team is led by Partners, Martin Quicke, Simon Vere Nicoll and Tim Foley, Legal Director Alex Watt, Senior Associates John Hopper, Richard Elks and Mette Clifton, and Associates Vicky Green and Armel Elaudais.

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