Our Real Estate team has advised Fraser Real Estate on the sale of the 72,000 sq. ft. mixed-use development on Soho's Berwick Street comprising a Premier Inn hotel, 12 residential apartments, four affordable housing apartments and 12 retail units.
The transaction comprised several simultaneous workstreams including revising the holding structure for the residential aspects of the development, surrendering the existing headlease to the freeholder and selling the 12 retail units to Shaftesbury Soho Limited.
Gowling WLG advised Fraser Real Estate on all aspects of the transaction including Tax, Real Estate and Construction. The team that worked on the project was led by senior associate Edmund Willis and partner Nick Mumby with support from construction principal associate Sarah Morris Poxton and tax partner Lee Nuttall.
Edmund Willis, senior associate at Gowling WLG, said: "We're delighted to have worked with Fraser Real Estate on achieving the sale of this mixed-use development following a demanding journey. Our real estate team showcased its resilience in overcoming significant challenges in order to meet our client's needs."
Joe Pitt at Fraser Real Estate said: "Sales of mixed-use assets are rarely straightforward and this transaction was particularly complex. The strength of Gowling WLG's real estate team ensured delivering a seamless service to us whilst simultaneously managing several different stakeholders in the project."
Gowling WLG has a dedicated mixed-use development team with experience in advising developers on their mixed-use projects and is home to one of the UK's largest Real Estate practices. For further information, please visit our Real Estate sector page.
Read the original article on GowlingWLG.com”
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.