A quartet of City firms have scored roles on a major City real estate deal which has seen the Aldgate Place site in London's E1 area change hands.

The deal, which closed last week (8 March), saw Winckworth Sherwood take the lead role for Barratt Developments on its purchase while Addleshaw Goddard, which acted on behalf of the organising bank, HSH Nordbank, advised the seller, Tishman Speyer.

Tishman was also advised by Clifford Chance later on in the transaction, while SJ Berwin also took a role after Barratt engaged the firm's client, British Land, as a joint venture partner.

The value of the deal is understood to be less than £100m, but the gross development value is expected to be significantly higher. The two-acre site, which is situated next to Aldgate East tube station, currently has planning consent for 850,000 sq ft of offices. The purchase is conditional on securing a revised planning consent for a residential-led mixed use development.

Winckworth's team was led by partners Francesco Ferrari and Richard Tinham, while the Addleshaws team was headed up by London real estate partner Alan Duncan and finance and projects partner Andrew Besser.

Meanwhile, the SJ Berwin team was led by City real estate partner Mike Scott and corporate partner Delphine Currie, while CC senior associate Angela Kearn took the lead role for the magic circle firm.

Duncan commented: "This deal which was a win-win for all parties. The City office market has been somewhat slow but the residential market in the fringes of the City area is really taking off and this will be a very interesting development in an exciting area of London."