Lawyers from Sheffield have played a key role in a £62 million London property deal.
A team from DLA Piper’s Sheffield office provided real estate, construction, tax, commercial and banking advice to the buyers of the BBC’s former Costume Store, who have turned the 176,000 sq ft building into flats for student attending the University of the Arts London.
DLA Piper’s Sheffield-based real estate partner, Stephen Blacksell, said: “We have a strong track record in the student housing sector and were wellplaced to offer the advice needed to bring this acquisition to a successful completion in time for the start of the new university term.
“Drawing on expertise from a number of our specialisms meant we were able to provide comprehensive, joined up and quality advice across all aspects of this complex flagship development.”
The 730bedroom, 18storey development was acquired by a Luxembourg-based subsidiary of investment group Oaktree Capital and is being run by Knightsbridge Student Housing and The Student Housing Company.
Knightsbridge Student Housing development director Simon Pollitt praised the Sheffield lawyers for invaluable advice and helping to complete the deal on time.