Press Release
25 May 2007
McGrigors advises on £50m+ Aberdeen real estate investments
UK law firm McGrigors LLP has further displayed its strength in the real estate sector by advising Stainton Capital Ltd in two Aberdeen transactions worth a total of more than £50m.
McGrigors acted for Stainton Capital (Foxhound) Ltd during the £23.7m sale of its multi-let office investment in St Magnus House to the Apia Regional Office Fund. The 80,180sq ft office building, which has 129 car parking spaces and overlooks Aberdeen harbour, is fully let on six leases.
The firm also acted for Stainton Capital (Talisman) Ltd for its £28.69m disposal of Talisman House in the city to Morley Pooled Pensions Ltd. The 96,000 sq ft office is let to Talisman Energy on a 25 year lease.
Russell Munro, a partner within the real estate team at McGrigors, said: “In recent years Aberdeen has established itself as one of the most vibrant commercial property markets in the UK and it is evidence of McGrigors’ growing reputation and expertise in the sector that we have been involved in these deals.”
Other recent high-profile transactions undertaken by the McGrigors real estate team include the acquisition of Motherwell Town Centre; advising the Bank of Scotland Corporate, part of HBOS plc on a £119 million loan facility for the regeneration of Silvertown Quays in the Royal Victoria Docks area of East London and advising the Royal Bank of Scotland in funding the 25-year sale and leaseback deal of 148 Kwik-Fit outlets across the UK.
McGrigors Real Estate Group comprises more than 70 lawyers based in London, Edinburgh, Glasgow, Aberdeen and Belfast who are dedicated to providing innovative commercial advice on all aspects of commercial property law.
For further information please contact:
Charlotte Nye
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - Charlotte.nye@fd.com
Louisa Hollins
Financial Dynamics
Telephone - +44 (0) 20 7269 7108
Email - Louisa.hollins@fd.com
Andy Peat
Financial Dynamics
Telephone - +44 (0) 20 7269 7185
Email - andy.peat@fd.com