AKD acted as legal advisor to Australian real estate fund Thirdi Group in connection with its acquisition of a property at Graphite Square, a mixed-use residential and commercial property development located in the heart of Vauxhall, London just moments from the Thames and Vauxhall Tube station. Graphite Square will provide 160 new homes, including 50 affordable homes, 80,000 sq ft of workspace and amenities for the area. The affordable housing units have already been sold and the office space has been pre-let on a 12-year lease and in line with the recent trend for greater sustainability, the scheme will include solar PV panels, air source heat pumps, ample cycle storage, green spaces and a children’s play area, as well as aiming for a BREEAM rating of Excellent and an EPC rating of A.
Thirdi is one of Australia's leading property development and investment firms, with operations in Australia, UK and Singapore and an enviable track record managing sites from acquisition through to completion in residential, retirement resorts, commercial & industrial, specialist care, and workspaces. Thirdi’s current development pipeline exceeds $2.5 billion.
AKD was engaged as local counsel for our Interlaw partner Trowers & Hamlins LLP and we also acted as Notary for the transfer of the shares in the real estate company holding the target property.
The seller of the property, the Dutch subsidiary of New York headquartered real estate investment fund Angelo, Gordon & Co., L.P. was advised by Goodwin Procter LLP as lead counsel and Loyens & Loeff N.V. as local counsel.
Bryan Cave Leighton Paisner LLP and Nauta Dutilh N.V. acted as advisor to the incoming lenders funding the acquisition and subsequent development of the property, including Cheyne Capital.
The deal team at AKD consisted of Laura de Jong, Carlos Pita Cao, Julian Versmissen, Jasper Verhoog, Casper Schnepper, Monique Verkuilen and Evelien Baas.