Clyde & Co advises Aldgate Developments on One Braham sale to Union Investments

Global law firm Clyde & Co has advised on the sale of the Luxembourg holding company that owns One Braham, the newly developed office building that is to be the global headquarters of BT, to the German fund, Union Investment, in excess of €500 million, acknowledged as the largest real estate investment transaction in London so far this year.

Clyde & Co also acted on the acquisition of the asset in 2017.  Since acquisition, One Braham (formerly known as Maersk House/Beagle House) has been redeveloped by Aldgate Developments into a 19 storey, 325,000 sq. ft Grade A office building. The building was completed in October 2020 and is situated directly above Aldgate East tube station, a strategic location in London with four tube lines within 200m.

One Braham is fully let to BT and is to be their corporate global headquarters.

The Clyde & Co team advising on the project was led by Simon Vere Nicoll, with the support of Vicky Green and Sarah Ridley on the Corporate side and Ray Smith and Farhad Shahidi on the Tax side. Property advice was provided by Nick Mumby at Gowlings WLG UK LLP and other sell side advisers included Cushman & Wakefield, Martell Accountancy, KPMG and LexField.

Clyde & Co's corporate team provides wide-ranging and detailed advice on corporate matters from its network of over 50 offices.  The team’s skill-set extends to all aspects of corporate finance, including mergers and acquisitions, private equity and venture capital investments, disposals and joint ventures.

The team has a particular focus on corporate real estate and acts for landowners, developers, investors, fund providers and other intermediaries operating in the commercial property sector, including providing specialist advice on the structuring and financing of joint ventures and inward investment and fund structuring advice, often with a cross-border or multi-jurisdictional element.