CC advises Canary Wharf on £260m property sale
Legal Week reports
November 22, 2006 at 07:03 PM
2 minute read
Clifford Chance (CC) has advised trophy property client Canary Wharf on the sale of a 400,000 sq ft building to KPMG for £260m, as firms continue to vie for the property giant's work.
CC real estate partner Jonathan Solomon led a team advising Canary Wharf on the sale of 15 Canada Square to the big four accountant, making it the first major accounting firm to locate its headquarters in the area. Construction is due to be completed by April 2009.
Solomon was assisted by commercial property partners Elizabeth Young and Tony Briam and real estate finance partner Damian Perry. Solomon said: "Because of the terms negotiated with KPMG, the deal had to be done very quickly, so it enabled Canary Wharf to get to know a wider real estate and tax team at CC."
Linklaters advised KPMG, led by real estate and construction partner Christopher Coombe.
The deal follows an instruction for CC by Canary Wharf in March last year on the £338m sale of 20 Canada Square to Canadian property company Brascan.
That instruction was the firm's first big deal for the client since CC real estate head and Canary Wharf relationship partner Robert Mac-Gregor left to head Berwin Leighton Paisner's property department in 2004.
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