Hogan Lovells has advised PRUPIM, the real-estate investment management arm of M&G Investments, on the sale of a prime West End property at 29/30 Berkeley Square and 2 Bourdon Street to Mercury Finance Ltd, advised by Druces LLP, in an off-market transaction.
The law firm previously advised PRUPIM in relation to the suite of documentation necessary to facilitate a multi-million-pound wholesale refurbishment of the prominent building to create a first-class office facility. Preparatory works had already begun on site and Prudential was almost at the point of starting the refurbishment works when it was approached by Mercury to acquire the building.
Following the initial approach, conditional contracts were exchanged between the parties in October 2012 and the sale completed at the end of February 2013 following approval of the assignment and the satisfaction of a number of other conditions.
The Hogan Lovells team was led by senior associate Anthony Newton, assisted by of counsel Oliver Chamberlain and Dellah Gilbert, with specialist taxation advice being provided by partner Kevin Ashman and senior associate Aaron Burchell and construction advice being provided by partner Gillian Thomas and associate Hugo Lidbetter.