Estera, a leading global provider of fiduciary and administration services, has provided real estate corporate services support for the sale of 100% of 5 Broadgate by British Land plc and GIC to a wholly-owned indirect subsidiary of CK Asset Holdings Limited for £1 billion.
5 Broadgate is one of London’s premium buildings which is occupied by UBS.
Estera has provided real estate administration services for the holding company since 2009 and was involved in the development phase as well as in the ongoing management of 5 Broadgate.
This transaction reflects British Land’s consistent strategy of realising value from completed and well-let properties. The building, which was completed in 2015, was a significant catalyst for the further development of Broadgate now underway.
Richard Prosser, Group Director, Estera said: “We have extensive experience of corporate services for prime London real estate and have been working on this extremely significant deal for many months. We are delighted to have assisted with the successful completion of the sale by British Land and GIC and are fully supportive of their commitment to the rest of the Broadgate campus.”
5 Broadgate is a distinctive building which covers more than 700,000 sq ft. net internal area with capacity for 5,000 people across its 12 floors. It is rated Excellent by BREEAM and carbon emissions are 65% lower than the previous two buildings on the site. UBS are committed to the building until 2035.
