At CBRE, we have built a dedicated team to deliver unrivalled service within the capital, with an enviable reputation for carrying out groundbreaking deals for developers, investors, landlords and occupiers. Below are some of our recent successes; please contact us for further details.
Case Study: Record-breaking Sale of Docklands Icon
As one of the most active investment teams in the property market in London, the CBRE team advised HSBC on a sale and leaseback to Metrovacesa for the iconic Canary Wharf HSBC office tower. The £1.09 billion sale package included vendor debt financing and was the largest single asset deal ever in Europe in 2007. When Metrovacesa breached its loan covenants, we assisted HSBC in reacquiring the tower and subsequent sale to National Pension Service of Korea, a new investor in the UK, identified through our Asia offices.
Case Study: Complex South Bank Development
The CBRE team ensured the alignment of vendor and purchaser interests when handling the sale of the prominent riverside property, the Shell Centre. The 5.25 acre development has world-class, mixed-use potential. Meeting our client’s objectives required a complex sale procedure including
A subject-to-planning disposal that allowed clarity on how the site would be redeveloped
A sale of a long leasehold interest allowing certain controls to be retained
Office space totalling 210,000 sq ft pre-let to Shell
The negotiation of an overage mechanism that aligned all sides’ interests in the success of the project
Case study: Complex Site Sale at Sugar House Lane London E15
As one of the most active teams in East London in 2010 CBRE advised on the sale of the largest private sale sales in the area for a number of years.
Acting on behalf of a consortium of lending banks the team undertook a strategic review of The 13 acre Sugar house Lane site which included full due diligence and sales preparation including reviewing 16 legal titles. The site was marketed internationally and a sale was effected to a European Fund new to the UK at a price in excess of 40% above existing c value.
Case Study: Olympic Park Stratford London E20
Acting on behalf of the London Development Agency to team were an key part of the 2012 bid process. The team were responsible for the acquisition of the site for the Olympic Park in what was the largest and fastest land assembly projects in Europe. The team were responsible for acquiring over £.5 billion of land and buildings within a 2 year period. At the time the team was also responsible for the acquisition of land for over 1,000,000 sq ft of relocation space in the East London region.
Case Study: The Benefits of Combined Expertise and International Reach
London has emerged as a preferred destination for international real estate investment, and the capital markets team at CBRE, comprising experts from our Investment and Real Estate Finance groups, is the leading team in London delivering innovative investment opportunities to buyers, sellers and those seeking joint ventures. In this case, the investment team devised a unique financial and ownership structure to enable The Crown Estate to sell a 25% interest in its Regent Street Estate.
We utilised our global network to access sovereign wealth funds discreetly
Our international contacts enabled us to source a compatible investment partner with similar core values and the financial means to co-invest with The Crown Estate
Our Planning and Agency teams have been retained by the partnership to advise on the whole estate
Case Study: Coleman Street
Clifford Chance held a lease until September 2021 with a tenant only break in December 2011 on 60,000 sqft. They had sublet the lower ground to 3rd floors and 7th floor, leaving Clifford Chance managing a building in which they held just 21,500 sq ft for disaster recovery and touchdown space, much of which was now surplus to requirement. Our solution enabled them to rationalise their holding, retain their touchdown presence and reduce their liabilities:
Early surrender of their overriding lease, 3 months in advance of the break date
All future liabilities on the rent and rent shortfall passed on to the landlord.
Settlement of the terminal dilapidations
An agreement for lease in respect of smaller 7th floor offices, with a waiver of terminal dilapidations and reinstatement liabilities.
Case Study: 590,000 sq ft office fully leased
In 2010, the London office agency team advised on the leasing of Ropemaker Place, EC2. This new 590,000 sq ft office building was developed by British Land and because of our collaborative way of working and our extensive international contacts we were able to identify potential tenants seeking a City location and introduced the Bank of Tokyo Mitsubishi as a pre-let tenant. We leased the remainder of the building on completion to Macquarie Bank, Markit, Liberum and Mint Equities.
Case Study: St James’s Gateway Piccadilly
St James’s Gateway is located in the heart of London’s West End, immediately adjacent to the iconic Piccadilly Circus. The CBRE Planning team secured planning permission on behalf of The Crown Estate for this Eric Parry designed scheme, which sensitively replaces and remodels a number of historic buildings and includes a striking new Piccadilly facade. This project comprises 90,000 sq ft of offices, 8,000 sq ft of retail space and 16 private residential units. The scheme, currently on site, is being developed by Maple – a joint venture between The Crown Estate and Hospitals of Ontario Pension Plan (HOOPP).
Case Study: Residential Development Consultancy
Over the past 12 months, our residential team have provided a full consultancy service to developers, Kaupthing, Aviva and Exemplar, on the site of the former Middlesex Hospital. The team has advised on aspects of build potential, from specification, unit size and mix, through to individual layouts and interior design. Preparing for future sale, the team has provided advise on potential target market, pricing, marketing collateral and sales strategy. Throughout the 12 months, this advise has been provided against a backdrop of market commentary using unrivalled market knowledge and in depth research.
Case Study: Residential Sales & Marketing
Currently instructed as joint sole agents by St James for an exciting new scheme, Langham Square in Putney, the residential team has expanded on early consultancy work with advise on international sales and marketing. Taking advantage of CBRE’s wide geographic reach and market leading capabilities in the South East Asia, the team undertook a large marketing exercise in October 2011 in Kuala Lumpur, Hong Kong and Singapore. Holding a full scale exhibition over a weekend in each city, the residential team attracted a large amount of interest in this new, 114 apartment scheme.
Case Study: One New Change
Clients of the London team include landlords and tenants, both new entrants to the market and well-established presences. What happens in London is our business. We know what tenants are looking for and what landlords want. This constant monitoring of the market means we match requirements and achieve reliable results.
This commitment to success is demonstrated by our role in the leasing of One New Change. This is a major new site in the City, the first retail-focused development and of strategic importance to Land Securities. With just 12 months to go before opening, the appointed agents had let only 11% of the 220,000 sq ft of retail space. The CBRE London retail team stepped in and ensured the scheme was fully let on opening with the right mix of tenants.
Case Study: Google hits Covent Garden
Due to considerable time constraints the search and acquisition process for Google was accelerated in order to meet the clients urgent need for additional offices. Following an extensive search across London, the Central London TAG team negotiated terms for Google to take the remaining 160,000 sq ft at Legal & General’s recently completed Central St Giles, near Seven Dials.