Baker McKenzie Joins Battersea Power Station Line-Up in £600M Financing Deal
Two other firms reprise their roles on the latest deal at the iconic site.
September 13, 2019 at 04:16 AM
2 minute read
Baker McKenzie has joined the raft of firms advising on the regeneration of the iconic Battersea Power Station.
The latest deal sees the Battersea Power Station Development Company (BPSDC) complete a £600 million financing for phase three of the new development, which is being regenerated to play host to new shops and restaurants, as well as new residential and office space.
A cross-border Baker McKenzie team is advising a lending consortium that includes bookrunners Standard Chartered Bank, CIMB, Maybank and OCBC.
Bakers' London-based real estate partner Justin Salkeld and corporate partner Mike Webster are leading the team in conjunction with a Singapore banking and finance team led by partner Emmanuel Hadjidakis.
The development has already seen firms such as Linklaters, CMS, Norton Rose Fulbright, Addleshaw Goddard and Shoosmiths win mandates.
The phase three financing sees Addleshaws and Norton Rose reprise their roles for the BPSDC, with both firms having advised the company on previous phases of the development.
Addleshaws is advising on real estate aspects of the latest phase, with real estate partner Luke Harvey leading for the team, while Norton Rose is leading on the finance aspects of the deal for the company, with a team headed up by London finance partner Dan Kennedy.
In December, Addleshaws advised the BPSDC on the £1.6 billion sale of the six-acre Battersea site to Malaysian investors – asset management company Permodalan Nasional Berhad and the Employees Provident Fund Board of Malaysia, a retirement savings fund. Linklaters advised the buyers on that deal.
Last year, CMS advised the BPSDC on the pre-let of the remaining 40,000 sq ft available within the power station to a private members club, while Shoosmiths acted for new occupiers IWG.
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