Nabarro advises Great Portland Estates on £107m sale of the Met Building
31 October 2007
Nabarro has advised Great Portland Estates (GPE) on the sale of the Met Building, 22 Percy Street, W1 to Lazari Investments for £107m.
Nabarro had previously advised on the £16m acquisition in June 2003. Following this, the 110,000 sq ft property underwent a £23.8m refurbishment programme, including considerable modernisation and extension.
The building has a strong line-up of tenants including Zenith Optimedia, Gardiner & Theobald Ltd, BA Pension Trustees, NatWest and HSBC, generating an annual rental income of £4.7 million.
Barry Morris, Real Estate Partner who led the Nabarro team commented:
"This transaction was particularly significant for us, as the firm’s involvement goes back many years. Having advised on the purchase, refurbishment and successful lettings, we were delighted to be called upon again by GPE for the sale of the property."
For further information, please contact:
Barry Morris
Partner, Property group
T 44 (0)20 7524 6724
by.morris@nabarro.com
