Macfarlanes advises Stanhope Plc and Cadillac Fairview on c. £300m acquisition of city tower site

06 April 2022

Macfarlanes has advised UK developer Stanhope Plc and its Canadian funding partner Cadillac Fairview on the acquisition of 70 Gracechurch Street in the City of London for c. £300m.

Plans for 70 Gracechurch Street include more than 72,000 sqm of flexible office floor space, over 1,800 sqm of flexible retail space and around 1,500 sqm of public access space.

Macfarlanes previously advised Stanhope PLC on its joint venture with Cadillac Fairview and Thomas White Oxford Ltd to deliver the £700m Oxford North development in March.

The Macfarlanes team for this matter was led by real estate partner Dan Marriott alongside senior solicitor Tania Barnes and solicitor Maria Cannatella. Tax expertise was provided by senior counsel Kirsten Prichard Jones and VAT specialist Jack Slater.

Dan Marriott comments: “It has been a pleasure working with Stanhope and Cadillac once again on their third collaboration over the past couple of years.”