Clifford Chance has advised on the sale of the O2 entertainment site at Greenwich to Trinity College Cambridge for £24m.
The firm was instructed by Lend Lease Europe and Quintain Estates and Development on the sale of their joint interest in Meridian Delta Dome Limited (MDDL), following a longstanding relationship.
Real estate partner Nigel Howorth and senior associate Anthea Bamford, who led the deal for Clifford Chance, said: “We were delighted to work for Lend Lease and Quintain on this landmark transaction.
“This has been an exciting deal involving complex legal arrangements in connection with MDDL’s interest in the dome waterfront areas of Greenwich Peninsula.
“We’re looking forward to continuing to advise the master developers of Greenwich Peninsula as they continue in the regeneration of this significant area of London.”
They were assisted by corporate partner Adrian Levy and associate Helen Welsh.
Commercial partner John Tweddle of Bidwells and real estate partner Michelle Cookson and associate Vincenzo Maggio at Mills & Reeve, together with corporate partner Tom Pickthorn, advised Trinity College.
As a result of its acquisition Trinity College will receive the rental income paid by AEG on its under-lease of the O2, which is linked to ticket sales at the venue.