Taylor Wessing advises Canada Life on £24m purchase of 1 St Paul’s Place
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Lawyers John Whitfield, Neil White, Alistair Watson
International law firm Taylor Wessing has advised long standing client Canada Life on the purchase of 1 St Paul’s Place, for £24m from Standard Life Investments.
The 88,000 sq ft property in Sheffield city centre offers a vibrant mixed use site, bringing together a mixed, office and bars/restaurants location, providing an exciting new development for City workers and local residents. Whilst the ground floors of the development benefit from lettings to Cafe Rouge, Cafe Nero and Piccolinos, the six office floors above are let on a single lease to law firm DLA Piper. Barclays and RBS are sub-letting part of the second and first floors respectively.
Real Estate partner John Whitfield, who led the Taylor Wessing team, said:
“We are delighted to have advised on this significant purchase for Canada Life. This acquisition demonstrates a growing confidence in the real estate market and represents an increasing demand for prime assets in strategically important locations.The benefits of 1 St Paul's Place set it apart from the other office developments in Sheffield."
Herbert Smith advised Standard Life Investments.
