BCLP advise GPE on acquisition of West End HQ development opportunity

A BCLP team advised Great Portland Estates plc (“GPE”) on the acquisition of Cypress Dynasty Limited which owns the freehold interest in One Chapel Place, W1.

The building is just off Oxford Street in the heart of the West End. It is currently let until mid-2028 after which GPE plan to re-development the site. This represents a significant and exciting opportunity for GPE to create a highly sustainable best-in-class HQ redevelopment in prime London location.

The deal team was led by Verity Waington (Real Estate), Adam Bogdanor (CREF) and Andy West (Tax), with assistance from Alex Berman (Real Estate), George Dunne (CREF), Maite Aguirre Quinonero (Tax), Kirila Bucheva (CREF), Victoria Blanchard (ROL) and Carly Curtis (Real Estate Disputes) as well as invaluable support from a wider BCLP due diligence team including Cassie Ingle, Emma Brown, Claire Timmings (Real Estate), Paul Grace and Hannah Whiting (Planning) and Charlie Gilbert-Wood (Construction) .

KPMG advised on tax and financial due diligence and Forsters and Deloitte acted for the seller.