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06 February 2018

Charles Russell Speechlys advises on prestigious Chancery Lane office sale

Charles Russell Speechlys has advised a private investor on its disposal of 5 Chancery Lane, London. The property was exchanged for a consideration of £76 million.

The property comprises over 80,000 sq ft of office and ancillary accommodation which is fully let to law firm Lewis Silkin on a lease expiring in March 2023.

The historic property sits in the heart of the legal quarter, between Fleet Street and Holborn. The site has a long history of occupation by the legal profession, and has a Blue Plaque (awarded by English Heritage) to mark it as the site of the Serjeants-at-Law’s premises in London between 1415-1910.

The property was purchased by Lee Kim Tah-Metro Jersey Limited on behalf of Singaporean investors Lee Kim Tah Group and Metro Holdings as part of a 50/50 joint venture and GLS Estates advised the buyer on the acquisition.

Charles Russell Speechlys’ Head of Real Estate Mark Smith led on the transaction, supported by Ajay Rana and Harry Taylor.

Savills worked alongside Charles Russell Speechlys on the disposal which is testament to the continued appeal of London to overseas investors. The UK is perceived as the most welcoming market in Europe to overseas investors and our landlord-friendly leasing structures, English language and market transparency make for an attractive marketplace that will continue to draw overseas interest in 2018.

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