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Nabarro acts for GE Capital Real Estate, Landid and O&H Properties on its first letting of the Ark, Hammersmith
22 July 2009
Demonstrating its expertise in the real estate sector, Nabarro LLP has advised GE Capital Real Estate, Landid and O&H Properties on the letting of the ninth floor of the iconic Ark Building in Hammersmith on a ten year lease to OpenTV UK Limited (Open TV).
The digital television company is the first occupier to sign up to the Ark since its £20m makeover and refurbishment last year. The redesign increased the rentable space by 31 per cent and enabled the building to be multi-let for the first time since the building, which was designed by Ralph Erskin, was completed in 1992.
GE Capital, Landid and O&H Properties bought the building for £49.5m in 2006 and are currently in negotiations with prospective tenants for the remainder of the building.
Demonstrating its commitment to reducing CO2 emissions and as a keen member of the Better Buildings Partnership, GE Capital has included a number of green provisions in the lease which work towards monitoring and improving the energy performance of the building and minimising the impact of the building on the environment.
The Nabarro team, which negotiated and agreed the form of lease, was led by real estate partner Kevin Stimpson, and assisted by senior associate Clare Thomas and associate Jessica Martin. Bird & Bird LLP represented Open TV.
Commenting on the deal, Kevin Stimpson said:
“Acting for GE Capital, Landid and O&H Properties on the letting of the Ark building following its extensive refurbishment has been a great opportunity for the team. Our client needed practical commercial advice which sustained investment value but also ensured a successful letting at a difficult time.”
If you would like any further information or have any queries please contact:
Charlotte Collins-White
Lansons Communications
T +44 (0)20 7566 9706
charlottet@lansons.com
