Olswang kick-starts Brixton relationship with deal double
Guinness brewery site buy-out one of two debut Brixton instructions for Olswang
September 27, 2006 at 08:03 PM
2 minute read
Olswang has landed its first two instructions from property giant Brixton since being added to its panel in December last year.
Relationship partners Martyn Needham and David Saunders each led a deal, respectively advising Brixton on its £47.1m acquisition of the 24-acre former Guinness brewery site from Diageo and its £50m acquisition of the 'Poyle 14′ property at Heathrow airport.
Needham led the team advising Brixton on the brewery site acquisition in Park Royal. Brixton plans to develop the site to more than 500,000 sq ft of industrial and warehouse accommodation, commencing in 2007.
Brixton's acquisition comes in spite of efforts by campaigners to save the iconic plant, which Guinness has now decommissioned. The brewery was designed by Sir Giles Gilbert Scott, the architect who also designed the Battersea power station.
On the second deal, property partner Saunders led the team advising Brixton on the acquisition of the 230,000 sq ft 'Poyle 14′ site from Threadneedle Property Investments. The site is a mix of 17 industrial and warehouse buildings and is the closest estate to Heathrow's new Terminal Five building, which is scheduled to open in early 2008. Simmons & Simmons real estate partner Nick Jones advised Threadneedle on the deal, which was completed around two weeks ago.
Saunders commented: "These two deals were a great introduction to Brixton. It is a leading player in the property sector and it is great for our real estate team to get involved with their work."
Olswang's admission to Brixton's panel last year alongside SJ Berwin was seen as a trophy appointment for the firm after it had invested heavily in its property practice in a bid to diversify its practice away from its core corporate media business.
Brixton had previously handed most of its work to SJ Berwin and Lovells, while also using Clifford Chance and Allen & Overy for corporate advice.
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