Allianz Real Estate’s Joint Venture With Ivanhoe Cambridge

Clifford Chance advised Allianz Real Estate on the deal.

Allianz Real Estate started a 50:50 development joint venture with Ivanhoe Cambridge for the redevelopment of Stonecutter Court in Farringdon, London.

The joint venture is subject to antitrust clearance. Work has begun on the site which is anchored by a pre-let to Travers Smith.

Stonecutter Court in Farringdon is a 13 storey scheme with office, retail, public realm and six roof terraces. Upon completion in 2024 the new Grade A development will increase the net lettable area from 150,000 sq ft to 250,000 sq ft. The new building is designed to reflect the needs of the area’s diverse occupier base which is a mixture of technology, creative industries and city commerce. The new design includes the retained Grade II Listed Hoop & Grapes public house.

The Clifford Chance cross-practice pan-European team was led by Real Estate Partner Mark Payne (Picture), supported by Senior Associates Rob Donell, Melissa Jones and Alice Raine and Associates Lena McCrae and Sophie Romain. Director of Property Litigation Ben Hatton advised on rights of light, Head of UK Real Estate Construction Marianne Toghill and Senior Associate Adam Waite advised on construction with Nigel Howorth, Head of London Real Estate & Head of Environment & Planning and Senior Associate Anneke Theelen advising on planning. Head of Real Estate Tax David Saleh and Senior Associate Edward Page advised on the tax aspects with Partner Greg Olsen and Senior Associate Chandralekha Ghosh advising on antitrust. Partner Christian Kremer, Counsel Judit Stern and Avocat Arvine Nooralian advised on Luxembourg aspects with Partner Marco Simonis advising on German regulatory elements of the transaction.

Involved fees earner: Rob Donell – Clifford Chance; Chandralekha Ghosh – Clifford Chance; Ben Hatton – Clifford Chance; Nigel Howorth – Clifford Chance; Christian Kremer – Clifford Chance; Lena McCrae – Clifford Chance; Arvine Nooralian – Clifford Chance; Greg Olsen – Clifford Chance; Edward Page – Clifford Chance; Mark Payne – Clifford Chance; Alice Raine – Clifford Chance; Sophie Romain – Clifford Chance; David Saleh – Clifford Chance; Marco Simonis – Clifford Chance; Judit Stern – Clifford Chance; Anneke Theelen – Clifford Chance; Marianne Toghill – Clifford Chance; Adam Waite – Clifford Chance; Melissa Jones – Taylor Wessing;

Law Firms: Clifford Chance; Taylor Wessing;

Clients: Allianz Real Estate;

Federica Tiefenthaler

Author: Federica Tiefenthaler