Burges Salmon advises private investor on £22m acquisition of The Rolex Store

A cross-departmental team comprising real estate, corporate and tax lawyers from Burges Salmon has advised a private investor on the acquisition of The Rolex Store at One Hyde Park, London.

24 February 2015

Real estate and corporate experts from Burges Salmon have advised a private investor on the acquisition of The Rolex Store at One Hyde Park, London.

The acquisition was structured by way of a corporate acquisition of the property holding company. Burges Salmon put together a cross-departmental team comprising real estate, corporate and tax lawyers working collaboratively to achieve the client's desired outcome.

The firm’s client is part of a strategic group of companies concentrated on various lines of business in local and global markets, with a good reputation in the US, Europe, Middle East and Africa.

The Burges Salmon team, led by Real Estate partner Richard Read and Corporate senior associate Claire Porter-Bryant, carried out due diligence on the property and negotiated the sale agreement with the sellers' lawyers. The team also co-ordinated advice given in the British Virgin Islands.

Richard Read said: “This was a high value transaction undertaken on a tight timescale and involved people in several time zones. Our client is now the owner of a prestigious piece of real estate in central London, which comes with a high calibre tenant and the opportunity for upside in the form of a rent review in 2016. The private investor is an existing client of the firm and chose us for our proven track record in advising on high value real estate acquisitions for them.'

Key contact

Richard Read

Richard Read Partner

  • Real Estate Investment
  • International Real Estate
  • Hotels, Leisure and Tourism

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