Macfarlanes advises Legal & General on sale of prominent office space to Gulf Islamic Investments

05 June 2019

Macfarlanes has advised long-standing client LGIM Real Assets, the property investment arm of Legal & General on its sale of two office buildings in Birmingham to UAE-based Gulf Islamic Investments (GII) for approximately £140m.

The two interconnected buildings, Priory Court and The Lewis Building are prominent city centre blocks totally 230,143 sq. ft. of office space.  The Lewis Building has undergone extensive renovations over the past few years, including the addition of an extra floor and Legal & General has secured long-term tenants including the Ministry of Justice and Freightliner.   

The sale represents the UK’s largest office deal outside London so far this year.

The Macfarlanes team was led by real estate partner Steven Pitchford with assistance from real estate senior solicitor Kirsty Childs and solicitor Erin Gilliland. Construction expertise was provided by partner Angus Dawson. Corporate advice came from partner Luke Powell and solicitor Nicholas Page. Debt finance matters were dealt with by Jatinder Bains.   

Steven Pitchford comments: “We are very pleased to have assisted LGIM Real Assets on its sale of this property which represents the conclusion of several years of advice after the refurbishment and letting of The Lewis Building.”