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Nabarro acts on Climate Change Capital’s first property acquisition

5 March 2009

Nabarro LLP has acted for Climate Change Capital’s property fund on the purchase of prime office and retail building, 5 St Philips Place, Birmingham, completing the fund’s first ever property acquisition.

5 St Philips Place is a landmark six storey property comprising 67,000 sq ft of offices and 13,000 sq ft of retail. It is currently let to the Department for Communities and Local Government and retail occupiers Marks and Spencer, HSBC and HBOS.

Nabarro acted for Climate Change Capital last year on the formation of its property fund, which currently manages £50 million of equity for investment in commercial property.

The team at Nabarro was led by real estate partner Marie Scott, with assistance from construction associate Michael Chilton and planning associate Nicola Insley. Indirect investment partner Deborah Lloyd and associate Fiona Hicks-Wright acted on the structuring aspects of the acquisition, with partner Simon Rose and associate Siobhan Mossop advising on tax.

Marie Scott, real estate partner at Nabarro commented, “It has been great to advise Climate Change Capital’s property fund on this landmark acquisition hot on the heels of its formation last year. A tight timescale was set for completion of the acquisition and we were very pleased to be able to adhere to it whilst still delivering a high quality service to our client".