Taylor Wessing Secures Foyles for Soho Estates

International law firm Taylor Wessing has completed its first acquisition for Soho Estates, securing the iconic Foyles Bookstore and adjacent properties for a purchase price in excess of £70m. The prime site comprises more than an acre in London’s Soho.

Soho Estates will be working up proposals for the site over the coming months and years, whilst Foyles Bookstore will relocate to a new purpose built property located nearby. 

The exchange was achieved in just five working days, following the withdrawal of the previous bidder. 

The site was sold by the Foyles family who have owned it since the turn of the last Century. John James, Managing Director of Soho Estates Limited commented:

"This is a very important acquisition for us and Taylor Wessing were excellent in pulling out all the stops to secure the transaction for us in record time".

Keith Barnett, Head of Real Estate at Taylor Wessing added:

"Soho Estate’s acquisition of the Foyles Bookstore completes a very rare opportunity to purchase an acre of prime central London real estate.  Indeed, it is something of a dynastic purchase which I think in the future will be looked upon as one of the great property plays of the decade".

The Taylor Wessing team was lead by Keith Barnett, Head of Real Estate together with Senior Associate Cyrille West and Finance Partner Ross Caldwell. 

Lawyers Keith Barnett, Cyrille West, Ross Caldwell