Fishmongers' Company - sale and leaseback of Lombard House, 33 Gracechurch Street

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Slaughter and May advised the Fishmongers’ Company in relation to the sale and leaseback of property at Lombard House, 33 Gracechurch Street and adjoining property. The transaction involved: the transfer by the LH Unit Trust (the units of which are held by Columbus UK Real Estate Fund LP, a Schroders fund) of part of the freehold of the site to the Fishmongers; the surrender of the LH Unit Trust’s existing lease of part of Lombard House; and a leaseback to the LH Unit Trust of the whole site for a term of 150 years in consideration for a premium of £26,360,000 and a 5% ground rent.

Real Estate: John Nevin (partner), Tom Foley (associate); Tax: William Watson (partner), Edward Milliner (associate)