Macfarlanes Advises Nex Group on letting of the London Fruit and Wool Exchange
Currently under redevelopment, the c.320,000 sq. ft. building features c.275,000 sq. ft. of office space, which had been pre-let in its entirety to law firm Ashurst following an agreement in 2015. Macfarlanes has assisted NEX in obtaining a 20 year lease for c.115,000 sq. ft. of office space from Ashurst, which will form NEX’s new UK headquarters.
The Macfarlanes team was led by commercial real estate partner Tom Pedder, with assistance from senior solicitors Cate Taylor, Bethan Ellis Jones and Simon Morris. Further expertise regarding tax matters came from senior counsel Kirsten Pritchard-Jones.
Tom Pedder comments: “Over many years we have greatly valued our relationship with NEX, and are delighted to have the opportunity to take this forward, acting for the company on this transaction. It was a pleasure to be involved in securing new long-term London headquarters for the group.”
As well as offices, the mixed use Fruit and Wool Exchange development will include shops, restaurants and community space. It is due for completion in 2018 and NEX is expected to occupy the space from late 2018.
“Over many years we have greatly valued our relationship with NEX, and are delighted to have the opportunity to take this forward, acting for the company on this transaction. It was a pleasure to be involved in securing new long-term London headquarters for the group.”