SJ Berwin advises British Land on £115m sale of Abbey's London HQ to Santander

SJ Berwin has advised longstanding client British Land on the £115m sale of Abbey's City headquarters to the bank's parent company Grupo Santander. The deal saw real estate partner Lewis Myers leading as British Land sold the building to Santander, acting alongside corporate partner Michael Goldberg and supported by associates Jason Tann and Nick Crabtree.

April 29, 2009 at 10:38 PM

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SJ Berwin has advised longstanding client British Land on the £115m sale of Abbey's City headquarters to the bank's parent company Grupo Santander.

The deal saw real estate partner Lewis Myers leading as British Land sold the building to Santander, acting alongside corporate partner Michael Goldberg and supported by associates Jason Tann and Nick Crabtree.

The 200,000 sq ft office was developed by British Land in 2002 and is let in its entirety to Abbey on a lease which is due to expire in 2022.

Santander turned to EMW Picton Howell, with London real estate partner Stephen Kay and corporate partner Ian Morris leading.

Myers told Legal Week: "In light of the market conditions it is difficult not to take notice of a deal of this size.

"We are noticing that deals are being done more quickly than was the case a couple of months ago."

British Land is SJ Berwin's longest-standing client and while the property giant also uses a range of other firms, including Freshfields Bruckhaus Deringer, SJ Berwin carries out much of its real estate work.

Separately, Myers also advised British Land on the pre-letting of 38% of its new 586,000 sq ft Ropemaker office development in the City to The Bank of Tokyo-Mitsubishi UFJ and Mitsubishi UFJ Securities International.