IBB closes on BAM’s £157m portfolio sale
24th September 2007
IBB Chesham Solicitors has completed the sale of an office portfolio valued at £157m on behalf of BAM Properties Limited. The portfolio was purchased by German group, IVG, via its fund division, Oppenheim. Under the deal, BAM will continue to manage the eight office schemes, which are at various stages of development.
The 431,000 sq ft portfolio comprises: the 120,000 ft Latitude Red, Leeds; the Canberra and Kingston Houses buildings at Lydiard Fields Business Park, Swindon; the 21,824 sq ft The Building on Chiswick High Rd; the Gemini Building at the 60, 000 sq ft Aztec West, Bristol; the 85,000 sq ft CTI Centrium Business Park, St Albans; the 46, 500 sq ft Interpoint office scheme, Edinburgh; the 75,000 sq ft Apsley House office block, Glasgow; and the 71,084 sq ft Metro building, Salford Quays, Manchester.
Partner Juliusz Wodzianski, led the IBB team on the deal and managed BAM’s other external law firms, Cobbetts, Walker Morris and MacRoberts. He comments, “We’re delighted to have been instructed by BAM Properties Limited on this groundbreaking deal involving the sale of eight properties under construction. This transaction demonstrates the expertise of IBB across the whole range of complex commercial development schemes.”