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Hogan Lovells Advises HOOPP on First UK Investment

07 December 2010

LONDON, 7 December 2010 - Hogan Lovells has advised new client Healthcare of Ontario Pension Plan (HOOPP) on a joint venture/ limited partnership with The Crown Estate to redevelop the key island "Gateway" site in London's West End.

HOOPP and The Crown Estate are in a limited partner joint venture to redevelop the West End Gateway site which is one of the most central and high profile blocks of real estate in the UK - at the eastern end of Piccadilly opposite Lillywhites and overlooking Piccadilly Circus. The initial development will be a mixed use scheme worth over £100 million with further redevelopment opportunities.

For the limited partnership, the asset is a 150-year geared head lease of the site granted by the Crown as freeholder to the limited partnership. As a pension fund, HOOPP is tax transparent in Canada, so also required advice on adopting a tax efficient structure for its investment.

Nicholas Cheffings, partner in Hogan Lovells' Real Estate team, said:

"HOOPP is one of the largest and most respected pension funds in Canada, but it has never invested directly in real estate outside North America. We are delighted to have been able to help them expand their investment reach into the UK through this exciting redevelopment of a prime London site; combining our funds, tax and construction capabilities, as well as traditional commercial real estate expertise in order to close the deal."


About Hogan Lovells


Hogan Lovells combines the breadth of business-oriented legal advice and high quality service that clients have come to expect through working with its two founding firms - Hogan & Hartson and Lovells.

"Hogan Lovells" or the "firm" refers to the international legal practice comprising Hogan Lovells International LLP, Hogan Lovells US LLP, Hogan Lovells Worldwide Group (a Swiss Verein), and their affiliated businesses, each of which is a separate legal entity. Hogan Lovells International LLP is a limited liability partnership registered in England and Wales with registered number OC323639. Registered office and principal place of business: Atlantic House, Holborn Viaduct, London EC1A 2FG. Hogan Lovells US LLP is a limited liability partnership registered in the District of Columbia.

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