HSF, BLP and Mayer Brown advise as British Land sells Cheesegrater building to Chinese for £1.15bn

The Leadenhall Building

Herbert Smith Freehills (HSF), Mayer Brown and Berwin Leighton Paisner (BLP) have picked up key roles advising on the £1.15bn sale of London’s Leadenhall Building to Chinese investors.

The pair are advising the joint owners of the building, known as the Cheesegrater, on the sale to CC Land – a company controlled by Chinese property magnate Cheung Chung-kiu.

Mayer Brown London real estate partners Jeremy Clay and Caroline Humble are advising British Land, alongside corporate and securities partner Richard Page.

HSF real estate partner Richard Forsdyke has the lead role for joint owner Oxford Properties, which is the global real estate arm of OMERS, the pension plan for Ontario’s municipal employees.

He has previously advised British Land on matters including the £5bn regeneration of Canada Water in London.

BLP, meanwhile, has secured a first-time appointment for CC Land, with head of real estate Chris de Pury leading the team.

British Land and Oxford Properties confirmed this morning that they have exchanged contracts with CC Land on the sale of the building, which they developed and own as a 50/50 joint venture. The building was completed in summer 2014 and is fully let.

The deal sees the pair sell their entire shareholdings in the company to CC Land.

British Land’s panel is made up of Addleshaw Goddard, Freshfields Bruckhaus Deringer, HSF, Jones Day, KWM, Mayer Brown and Simmons & Simmons. In January this year, British Land added Hogan Lovells to its roster of legal advisers in an out-of-season appointment, following the establishment of its first formal legal panel at the end of 2015.