A team from Ogier’s Jersey office has advised Singaporean real estate investor Hoi Hup Realty Pte Ltd on the acquisition of Holborn Gate from Fifty Eight Capital in a deal that highlights the ongoing strong demand for well-located and sustainable office space.
Located in Central London, Holborn Gate is an approximately 159,000 sq. ft. office and retail building next to Chancery Lane Station. The transaction builds on Hoi Hup’s acquisition of nearby properties at 322 High Holborn and 44 Southampton Buildings in 2018.
Working alongside English counsel at Mayer Brown, Ogier advised on all Jersey elements of the transaction, including the purchase of the Jersey company which owned Holborn Gate together with acquisition financing from United Overseas Bank.
Ogier’s team was led by partners Richard Daggett (pictured) and Katrina Edge, supported by senior associates Jennifer Cox and Alex Fisher, associate Sophie Treanor, and trainee solicitor Michael Ogilvy Watson.
Richard explained: “The demand for office space in London has shifted post-pandemic as businesses face up to the reality of hybrid working being here to stay. However, what is clear is that there remains a strong demand for well-located and sustainable contemporary-styled office space – an environment to encourage employees into the workplace. Holborn Gate, stylishly refurbished and situated in the heart of Midtown, clearly fits this bill.
“It has been fantastic to work with Hoi Hup (together with the excellent Mayer Brown team) on this acquisition and we wish them well going forward with this prime asset.”