Nabarro seals real estate sale for Land Securities

The firm was instructed on the sale of retail and office development Portman House on Oxford Street for £155m to Libyan Foreign Investment Company ­subsidiary Kinloss Property.

The sale of Portman House, which is let to high street names including New Look, Russell & Bromley and Boots, is one of the first ­forays into the UK property market for the Libyan ­purchaser, which was advised by Kingsley Napley partner Paul Harbour.

Nabarro senior associate Tom Goldsmith, who worked alongside lead ­partner Nicholas Vergette, ­commented that speed was of the essence on the ­transaction. “Once foreign investment companies make a decision they want to go ahead and do it,” he said. “The policy was that it should be a no-risk deal - no stone [should be left] unturned.”

Within days of this deal Nabarro also advised Land Securities on the sale of ­Eversheds’ new London HQ at One Wood Street to Glenn Arrow UK Property Fund for £105.5m. Clifford Chance partner Iain Morpeth advised Glenn Arrow.

The firm was also retained on the £43m sale of 98 Theobald’s Road to ­Crescent Heights, which was jointly advised by ­Herbert Smith partner Jeremy Walden and Olswang ­partner Graham Chase.