IBB completes purchase of new European Parliament HQ
11th June 2008
IBB Solicitors Buckinghamshire acting on behalf of the European Parliament, has completed the purchase of 32 Smith Square, LondonSW1 for a price of £20m.
This deal concludes the long search for a building to house the head office of both the European Parliament and European Commission in the United Kingdom. IBB were instructed on former proposed property transactions that failed to conclude as terms could not be agreed.
Solicitor Nicola Walsh, who completed the deal says: “Acting for the European Parliament and the European Commission in the acquisition of the property and the associated necessary documentation to provide for the separation of services and other common facilities between the property and an adjoining property occupied by an office of Her Majesty’s Government has been an interesting and challenging project.”
Real Estate partner Juliusz Wodzianski adds: “This transaction highlights IBB's expertise in dealing with property at all values and complexity and for major clients."