BCLP, Hogan Lovells and Eversheds advise on new Facebook London headquarters
Trio of firms advise as Facebook plans move to King's Cross
July 23, 2018 at 10:58 AM
2 minute read
Bryan Cave Leighton Paisner (BCLP), Hogan Lovells and Eversheds Sutherland have taken lead roles as Facebook signed a pre-let to take on 611,000 sq ft of office space in King's Cross.
Facebook, which already has two UK offices in London, will occupy three buildings at King's Cross, joining other high-profile tenants including Google, Universal Music and Louis Vuitton.
About 15% of the site's total commercial space (four million sq ft) will be let in the Facebook deal, making the move one of the biggest commercial transactions in London this decade, according to BCLP.
BCLP acted for longstanding client King's Cross Central Limited Partnership (KCCLP), fielding a team led by real estate partners Chris Rowe, Liana Hewson and Tessa Kimber, and corporate tax partner Matthew Poole. Hogan Lovells provided construction advice to KCCLP, led by construction partner Gillian Thomas.
Eversheds advised Facebook on the deal, with head of the firm's London real estate team Bruce Dear and fellow real estate partner Tom Goldsmith leading.
Commenting on the deal, BCLP's Rowe said: "The deal demonstrates great confidence in the London economy and further enhances King's Cross's reputation as a tech destination."
BCLP previously advised KCCLP on Google's acquisition of a site in King's Cross for the development of the technology giant's new UK headquarters. In 2013, the tech giant was granted a 999-year lease as well as the right to develop 1,000,000 sq ft of office space and ground-floor retail.
The firm is also advising about a dozen landlords as they seek to challenge department store chain House of Fraser's plans to close more than half of its stores through a controversial company's voluntary arrangement (CVA).
Photo credit: Maurizio Pesce
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