BLP advises on £120m forward-funding for West End development

International law firm Berwin Leighton Paisner (BLP) advised Resolution Property on the sale of West End premises to Hong Kong-based investor, Peterson Group.

The 80,000 sq ft property at 111-125 Oxford Street and 180 Wardour Street is Peterson Group’s first UK investment, having previously made acquisitions in the Far East and Canada.  The site acquired by Peterson Group has consent for office and retail space and Resolution has been retained to manage the development.

As well as being retained as development and asset manager on the project, Resolution will separately add two floors to the building, to create a number of penthouse apartments.

Commenting on the transaction, BLP partner Chris de Pury said: “This deal demonstrates the continued confidence of overseas investors in central London real estate.” 

The multidisciplinary BLP team was led by real estate partner Chris de Pury with support from Chris Adams and Sally Sparrow in real estate, Adam Bogdanor and Tom Hill in corporate, Nazir Dewji and Iain Suttie in Construction, Laurence Rogers and Emma Clarke in finance and Neville Wright and James Graham-Brown in tax. Stephenson Harwood advised Peterson Group.

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