Walkers' Jersey and London Teams Advise on 2 London Wall Place Acquisition

Walkers' Jersey and London teams have advised Hong Kong-based investment company Kingboard Holdings on the £302 million acquisition of 2 London Wall Place – a premium office development in the City of London.

Walkers advised on the Jersey and BVI law elements of the transaction, and were led by partners Jonathan Heaney (Jersey) and Neil McDonald (London, advising on BVI law), working with lead counsel Bryan Cave Leighton Paisner.

The Walkers' teams included Group Partner Tristan Maultby, senior counsels Louise Hamilton and Sarah Townsend and senior associate Ruth Donnellan in Jersey, and senior associates Ross Wilding and Tom Esler in London.

2 London Wall Place is a 16-storey building providing 187,200 square feet 1 of Grade A office space and 1,500 square feet of retail space, with 96% of the office space and 100% of the retail space currently leased out.   The property generates annual gross rental income of approximately £12.9 million.

In a statement Kingboard said: “Taking into account the location, quality and occupancy rate of the property, the board considers that the acquisition is in line with the business strategies of the group and is in the interests of the company and its shareholders as a whole”.

Jonathan Heaney commented: "We are delighted to have worked with Kingboard and BCLP on this high-profile acquisition, and to have had another opportunity to work in partnership with our London colleagues on the BVI law elements of the transaction, demonstrating our multi-jurisdictional capability."

Neil McDonald added: "This transaction shows again that premium office assets in London are attractive to international investors, and that Jersey and BVI remain of interest in terms of structuring high value real estate holdings in the City."

Primary Contacts


JERSEY
Jonathan HeaneyManaging PartnerT +44 (0)1534 700 786jonathan.heaney@walkersglobal.com
Tristan MaultbyGroup Partner*T +44 (0) 1534 700 754tristan.maultby@walkersglobal.com
Louise HamiltonSenior CounselT +44 (0) 1534 700 723louise.hamilton@walkersglobal.com
Sarah TownsendSenior CounselT +44 (0) 1534 700 736sarah.townsend@walkersglobal.com
Ruth DonnellanSenior AssociateT +44 (0) 1534 700 719ruth.donnellan@walkersglobal.com

LONDON
Neil McDonaldPartnerT +44 (0)20 7220 4990neil.mcdonald@walkersglobal.com
Tom EslerSenior AssociateT +44 (0)20 7220 4971tom.esler@walkersglobal.com
Ross WildingSenior AssociateT +44 (0)20 7220 ross.wilding@walkersglobal.com

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