Nabarro acts on sale of the O2
22 October 2009
Nabarro LLP has advised Quintain Estates and Development plc, alongside Clifford Chance, on the sale of Meridian Delta Dome Limited, (MDDL) a joint venture between Quintain and Lend Lease Europe Limited to Trinity College Cambridge for £24 million.
MDDL benefits from a 999 lease of land on the Greenwich Peninsula including land on which the O2 arena sits. Quintain and Lend Lease will continue to own and manage the regeneration of the surrounding areas on Greenwich Peninsula.
Caroline Newsholme, partner, and Kristy Duane, senior associate, advised Quintain on the corporate aspects of the transaction. Clifford Chance acted for both Quintain and Lend Lease on the sale and Trinity College was advised by Mills & Reeve.
Commenting on the sale, Iain Newman, head of corporate said:
"Nabarro have been acting for Quintain in relation to Greenwich Peninsula since 2002 and we are delighted to have been able to assist them on the sale of the O2, especially in these challenging market conditions. This sale is of particular importance to Quintain as it strengthens their balance sheet and furthers their strategy of cash repatriation. We look forward to working with Quintain on further development projects at Greenwich Peninsula and their other ongoing and future activities.
