Advising on £90 million office sale

Our real estate team have advised Meadow Partners on the sale of a Shoreditch office building to PGIM Real Estate, a deal worth in excess of £90 million.

The building, 37-45 City Road, is currently let to two tenants with leases until 2027 and 2030.

Our real estate partner Keith Barnett led the team advising Meadow Partners on the sale. He said: "This building is a real asset and well known office site in Shoreditch. It has been a great project to work on and I'm pleased to achieve a successful result for our client."

PGIM has previously focused on the living sector, with this site being its first office acquisition in the City of London.

Partner Andrew McDaniel from Meadow Partners said: "The team at Taylor Wessing made this transaction as smooth as possible. They offered great insight and have a depth of knowledge to support on complex deals."

Meadow Partners brought the building in 2017 after it was refurbished by previous owner Helical in 2015.

Corporate partner Russell Holden provided support on this deal.