Walkers’ Jersey team has advised on the bridge financing in connection with the £718m purchase of The Scalpel – a landmark London office development in the City of London.
A team led by group partner Jon Le Rossignol, and including senior counsel Helen Munro, worked alongside the Singapore-based TSMP Law Corporation team led by Partner Jennifer Chia to advise on the Jersey law elements of the financing associated with the building being sold by US insurance group WR Berkley to Singaporean investor Ho Bee Land.
The 36-storey building (shown to the right in the main picture) is in the heart of the City’s insurance district, with around 406,000 square feet of grade A office space occupied by tenants from the insurance, financial, legal and technology sectors.
Jon Le Rossignol said: “Despite economic headwinds, we continue to see demand for, and international investment into, premium commercial office space in the City, and this deal demonstrates not just the attractiveness of such assets, but also the popularity of Jersey structures to hold them.”
