International law firm Clifford Chance has advised a wholly-owned indirect subsidiary of CK Asset Holdings Limited on the £1.21 billion sale of 100% of 5 Broadgate, London.
The landmark building which is located in the heart of the City of London was completed in 2015. 5 Broadgate is the UK headquarters of UBS who are committed to the building until 2035.
Clifford Chance previously advised CK Asset Holdings on their acquisition of 5 Broadgate in 2018.
Commenting on the transaction, lead Partner Nick Rees said: “We were delighted to advise CK Asset Holdings Limited in relation to 5 Broadgate, this time as the seller, following the property lifecycle of this investment. This major real estate disposal continues a trend in the London real estate market with high value trophy assets being in demand. This type of complex real estate transaction is an example of where we can really add value to our clients by bringing together a multi-disciplinary team of corporate, real estate and tax specialists from across our real estate sector group in order to meet their requirements.“
The transaction team comprised Partner Nick Rees assisted by Senior Associate James Lloyd-Thomas and Associates Emily Warren and Lewin Lim. Partner Matt Taylor led on Real Estate aspects of the deal supported by Senior Associate Rob Donell. Tax advice was provided by Senior Associate Ed Page.
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