International law firm Trowers & Hamlins has advised The Ellison Institute of Technology on its landmark £162 million acquisition of 11-12 St James's Square, a Grade II listed building in London.
The mixed-use building comprises mainly grade A office space with a total net internal area of 82,024 square feet arranged over lower ground, ground and six upper floors, and covers 11 and 12 St James’s Square.
Trowers acted for the buyer’s special purpose vehicle, Ellison SPV 2 Limited, in acquiring the property from Chinese Estates Holdings Limited. The transaction also included strategic commercial input including advising on planning, employment and construction issues and risks, as well as negotiating vacant possession of the building prior to completion. Notably the deal was finalised within a five-week timeframe.
Tom Calnan, Real Estate Partner at Trowers & Hamlins, commented:
"We are delighted to have supported the Ellison Institute of Technology in acquiring this prestigious property. The acquisition represents another huge step forward in relation to the Institute's UK operations, as well as its overall global mission to develop and deploy science and technology in pursuit of solving some of the world's most challenging and enduring problems.
"More broadly, the transaction marks a significant milestone in the UK office sector, as one of the largest deals of its kind in 2024. Completing a transaction of this scale and complexity in just five weeks is a testament to the dedication and expertise of all those involved and further highlights the strength and depth of our Real Estate offering."
Tom Calnan led this multi-disciplinary transaction with commercial real estate support from Paul Andrews, Joseph Preisner and Carina Johnston, alongside the firm's Corporate, Planning, Construction, Environmental, Employment and Real Estate Litigation teams.
