Linklaters has advised international financial services group Macquarie on its acquisition of 217,000 sq ft at British Land's Ropemaker Place building in the City for its new London headquarters. The new space will allow Macquarie to bring its entire London operations together under one roof.
The deal was finalised within a very short timeframe for such an important letting, taking less than 3 weeks from Heads of Terms to signing of the Agreement for Leases.
Linklaters advised Macquarie on its HQ relocation over several months as they looked at a number of buildings at different times in the market, including recent negotiations at Drapers Gardens which did not proceed when BlackRock signed up for the entire building.
Real estate partner Julian Innes-Taylor led the Linklaters team which advised Macquarie. He was assisted by Catherine Palmer and Tom Gregory and Philippa Wadge, construction partner Huw Baker and real estate tax partner Jonathan Evans.
Commenting on the deal, Julian Innes-Taylor said: "This deal reflects the current competitiveness in the market for available new prime central London office space. Having all but signed a complex transaction for one building, we had to restart negotiations on another. It meant all parties had to turn things around extremely quickly in a sensible and pragmatic way. We are pleased to have been able to help our client secure the space they wanted on appropriate terms in a challenging market."
For further information please contact
Sarah Peters on +44 20 7456 2153 / sarah.peters@linklaters.com or
Rupert Winlaw on +44 20 7456 3219 / rupert.winlaw@linklaters.com
