Union Investments’ €500 Million Acquisition Of One Braham From Aldgate Developments

Gowling WLG and Clyde & Co advised Aldgate Developments on the deal. BCLP advised Union Investments.

Aldgate Developments sold the One Braham office development, to Union Investments for a purchase price in excess of €500 million.

One Braham is wholly let to BT plc on a 15 year lease and BT is expected to complete its move into the building by the end of 2021. The 18-storey commercial building in Aldgate was completed in October 2020 and provides c.340, 000 sq. ft. of office accommodation with retail units on the ground floor. The scheme adopts a contemporary office feel with exposed ceilings and integrated retail at ground floor, whilst still boasting some of London’s finest views, and considerable floorplate efficiencies.

The Gowling team comprised of real estate partner Nick Mumby (Picture) who was supported by Edmund Willis, Zoya Khan, Sumit Bhogal, Yasmin Samaroo and planning partner Ben Stansfield.

The Clyde & Co team advising on the project was led by Simon Vere Nicoll, with the support of Vicky Green and Sarah Ridley on the Corporate side and Ray Smith and Farhad Shahidi on the Tax side.

The BCLP team was led by partners Kieran Saunders (Investment Management) and Damian Fleming (Real Estate), supported by associate director Will Hammon and associate Faizan Hashmi (Real Estate), associate Indy Sohal and trainee solicitor Camilla Grierson (Investment Management), partner Gareth Stringer and senior associate Emily Dickson (Commercial Construction), senior associate Sam Burstall (Planning & Zoning), partner Richard Harbot and counsel Victoria Wolf (Tax Advice and Controversy) and senior associate Giles Williams (Due Diligence).

Involved fees earner: Damian Fleming – Berwin Leighton Paisner; Kieran Saunders – Berwin Leighton Paisner; Sam Burstall – Bryan Cave Leighton Paisner; Emily Dickson – Bryan Cave Leighton Paisner; Will Hammon – Bryan Cave Leighton Paisner; Richard Harbot – Bryan Cave Leighton Paisner; Faizan Hashmi – Bryan Cave Leighton Paisner; Indy Sohal – Bryan Cave Leighton Paisner; Gareth Stringer – Bryan Cave Leighton Paisner; Giles Williams – Bryan Cave Leighton Paisner; Victoria Wolf – Bryan Cave Leighton Paisner; Vicky Green – Clyde & Co LLP; Sarah Ridley – Clyde & Co LLP; Farhad Shahidi – Clyde & Co LLP; Ray Smith – Clyde & Co LLP; Simon Vere Nicoll – Clyde & Co LLP; Zoya Khan – Gowling WLG; Nick Mumby – Gowling WLG; Ben Stansfield – Gowling WLG; Edmund Willis – Gowling WLG;

Law Firms: Berwin Leighton Paisner; Bryan Cave Leighton Paisner; Clyde & Co LLP; Gowling WLG;

Clients: Aldgate Developments; Union Investment Real Estate GmbH;

Author: Federica Tiefenthaler