Ashurst leads Shard of Glass financing

Ashurst led the multi-firm team that secured a £196m financing for proposed London landmark building the ‘Shard of Glass’. The 310m London Bridge Tower, known as the Shard for its unique architectural design, will be home to a Shangri-La Hotel, along with office and residential space. Ashurst, led by real estate partner Gary Watson, acted for developers Teighmore and Sellar Property Group. Nationwide Building Society and Kaupthing Singer & Friedlander provided the financing, advised by Richard Todd and Anita Jones of Mayer Brown Rowe & Maw. Working alongside Ashurst were Shadbolt & Co on construction issues, Berwin Leighton Paisner on planning and Paul Hastings Janofsky & Walker on title issues. Ashurst also advised Teighmore and Sellar on the acquisition of PricewaterhouseCoopers’ (PwC) lease of the existing building at Southwark Towers. PwC, advised by David Beales of Slaughter and May, will vacate towards the end of 2007, allowing the development to commence.