To prove to doubting managing partners that business gets done at Mipim, Nabarro Nathanson has just closed a deal that originated at Mipim 2003.
The firm advised Jones Lang LaSalle (JLL) Corporate Finance on raising in excess of £23m of private equity to fund the 30-storey Bridgewater Place tower development in Leeds city centre. This is the first time JLL has raised funds from private investors, and the work came to Nabarros through a longstanding contact of the deal’s lead partner Simon Staite.
“It was one of the directors, Tony Edgely, who I know from a large job half a dozen years ago,” said Staite. “We first discussed it at a
lunch in Mipim last year.”
The project will cost more than £85m, with completion due in 2006. It combines residential and office space, with room for restaurants and retailers. Fifty per cent of the building has already been pre-let to Eversheds on a 20-year lease.
Bridgewater Place was advised by Addleshaw Goddard and Hammonds advised Barclays Bank, which provided the external debt.