Addleshaw Goddard has advised Galliard Homes on the acquisition from a fund advised by Brockton Capital of three large office parks across three established London commuter belt locations.
The total purchase price for Bourne Court, Woodford Green, Chiltern Court, Chesham and Thorney Leys, Witney (which between them incorporate over 150,000 sqft of office space) was £ 27million. The properties are part of a further strategic move by Galliard Homes to provide affordable quality homes in order to get people on the property ladder as well as to expand their commercial holdings.
The Addleshaw Goddard team was led by Real Estate Partner Simon Tager, assisted by Amelia Gould, a Managing Associate.
Debt was provided by Qatar Investment Bank advised by Foot Anstey. BLP provided finance advice.
Simon Tager said: "We were delighted to complete another strategically important deal for Galliard. This latest investment by Galliard reflects their continued commitment to the development of high class affordable housing for first time buyers in and around London and generally across the South."
David Hirschfield legal director at Galliard commented: "This transaction further demonstrates Galliard’s long term commitment to continue to provide high quality yet affordable homes in the Capital. Simon Tager and the Addleshaw’s team provided Galliard with a first class service within a tight time frame. Their responsiveness, commerciality and understanding of Galliard’s key business drivers were of paramount importance in getting the deal done”