Hogan Lovells and Berwin Leighton Paisner have taken lead roles on Prudential's £400m sale of Green Park business park near Reading to Oxford European Holdings.

The transaction, which closed earlier this month (18 November), marks Prudential's biggest-ever asset disposal and is the culmination of a 24-year project at the site, with Hogan Lovells advising on its assembly, development and disposal.

Hogan Lovells advised longstanding client Prudential on the sale, fielding a team led by London real estate partner Jackie Newstead, who recently returned from sabbatical. The team also included funds partner James McDonald and tax partner Kevin Ashman.

The acquirers, the holding company for Ontario Municipal Employees Retirement Scheme, were advised by real estate rival Berwin Leighton Paisner, where property partner Claire Milton led the team.

Green Park is the single largest asset held by Prudential, with the 180 acre site a prime office location in Reading. Newstead said: "Having worked with Prudential on this particular project for a number of years, to see it finally sold is like losing a best friend, but I am delighted to have been able to help Prudential achieve its goals."

The news comes after Hogan Lovells was appointed to Prudential's legal panel alongside Linklaters and Norton Rose earlier this year. The review, which closed in March, also saw Slaughter and May and Freshfields 
Bruckhaus Deringer reappointed to the roster.