Nabarro advises Land Sec on £1bn worth of deals

Nabarro has advised longstanding client Land Securities on a series of sales and acquisitions in the City totalling more than £1bn.

The key acquisition was the £252m purchase of Thomas More Square – a self-contained office space sold by an AXA joint venture that was advised by LG. Real estate partner Dan Gwilliam led the LG team.

Nabarro real estate partner Nicholas Vergette, who led the team for Land Securities, said the firm managed to get a certificate of title in a short period of time relative to the size of the deal, adding that it was completed within eight weeks.

Vergette said the acquisition represents a change in focus for Land Securities, which has traditionally concentrated on West End and City space.

The firm was also involved on Land Securities’ £253m disposal of Canterbury’s Whitefriars shopping centre to an Eversheds-advised Henderson/Canadian Pension Plan Investment Board joint venture.

Nabarro also advised on the sale of New London House, Gough Square and 20 Blackfriars Road, deals that were worth a total of £170m.

Vergette added that the most recent deals Nabarro has acted on for Land Securities are characteristic of the kind of vanilla acquisition and disposal work with top-tier reliable clients that have become Nabarro’s mainstay.