Slaughter and May has advised Minerva, a joint venture between clients of Delancey and Ares Property Partners, on the sale of the development site consisting of Nestlé House and Queen’s Square in Croydon to R&F Properties for circa £60 million.
Nestlé House, the former offices of Nestlé, has planning permission for 288 new residential units with a further 800 residential units and commercial units planned for the remainder of the site.
Minerva sold the project to R&F after consolidating site into a pair of freehold parcels for what is said to be a £500 million ($623 million) development project. Development approval has already been granted for construction of as many as 1,088 homes in the town in south London, according to local press accounts.
Slaughter and May advised Minerva on the deal with a Real Estate team led by Jane Edwarde (partner, in picture), assisted by Ben Redding (associate).
Law Firms: Slaughter and May;
Clients: Minerva Limited;