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08 June 2015

Charles Russell Speechlys advises Lum Chang Holdings on £52.6m acquisition of 130 Wood Street

Charles Russell Speechlys recently teamed with Ward Yates to advise Lum Chang Holdings on its £52.6m corporate acquisition of 130 Wood Street, in the City of London, from Land Securities.

This is the second deal Charles Russell Speechlys and Ward Yates have undertaken for the Singapore listed construction and development conglomerate this year, having advised Lum Chang on the sale of 42-60 Kensington High Street – retail, residential and office accommodation totalling 88,000 sq ft - to Urban Retail V in February.

130 Wood Street, a 61,000 sq ft city block bordered by Wood Street, Cheapside and Gutter Lane, is held through a Jersey property unit trust.

The Charles Russell Speechlys team was led by Real Estate Partner Robin Grove and Corporate Partner William Nash, with support from Real Estate Associate Tom Foley and Corporate Associate Jaspal Sekhon. Jersey legal advice was supplied by Ward Yates.

Robin Grove, Partner at Charles Russell Speechlys, said: “We are delighted to have acted for Lum Chang on their acquisition of 130 Wood Street. This transaction is further evidence of the confidence of overseas investors in the stability of, and opportunities within, the London property investment market. ”