Collas Crill's UK Real Estate team acted for a private family office administered by Lutea Trustees in Jersey on the acquisition of a Grade II Listed five storey office building in Central London in an off market deal for around £4m.
The London property has planning permission for conversion into apartments, with stripping out works commencing between exchange and completion. Michael Morris, Group Partner acted for the purchaser.
The purchase was financed by SG Kleinwort Hambros Bank (CI) Limited. Anna Douglass (UK Real Estate) and Steve Adams (BVI Corporate) advised SG Kleinwort Hambros Bank (CI) Limited on the UK Real Estate and BVI corporate aspects of the transaction.
Michael Morris said "this was another opportunity for us to demonstrate Collas Crill's ability to provide a one law firm solution for our international client investing in this exciting London development project. With the SG Kleinwort Hambros Bank (CI) Limited, Lutea and of course ourselves all based within the Islands, it made for a seamless transaction.”
Phil Burd of Lutea Trustees said “it was pleasure to work with all those involved. Both Arnou and Michael were thoroughly professional and efficient throughout, with a clear line of communication from commencement to completion. It was, as is somewhat of a rarity, an altogether stress-free property transaction.”
Arnou Helmholt Kneisel said "As a relationship-focused private bank, we were delighted to work closely with our client and Collas Crill’s UK Real Estate Team in providing this tailored financing solution in a smooth and efficient manner. SG Kleinwort Hambros Bank (CI) Limited continues to be an active property lender in the UK and Channel Islands for high net worth clients, trusts and family offices.”