The corporate practice group of Harry Elias Partnership is advising Sun Venture Pte. Ltd. (“SV”) in relation to Singapore laws in the fund establishment, regulatory and compliance issues in relation to the acquisition of 1 and 2 New Ludgate in London for GBP 552 million. 1 New Ludgate offers 183,305 sq ft of office, retail accommodation while 2 New Ludgate offers 206,310 sq ft of office and retail accommodation, with offices leased solely to a leading Japanese Bank. The fund has a total committed capital of GBP 258 million and its objective is to maximise total return on capital by seeking capital appreciation and current income, through acquisition of, investment in and/or management of the properties and/or immovable assets.
SV is a Singapore based multi-asset investment company with various asset classes, one being commercial real estate.
Partner Claudia Teo and Senior Associate Yu Yitian advised on the transaction.