Hogan Lovells Advises LaSalle Investment Management on £50m Capital Investment
20 January 2011
LONDON, 20 January 2011 - Hogan Lovells has advised institutional clients of La Salle Investment Management (LIM) on the acquisition of, and a £50m capital investment in, The Royal Agricultural Society of England (RASE)'s main site at Stoneleigh Park in Warwickshire.
LIM has committed to £20m in capital investment by the end of 2012, and to a maximum of £50m by 2020 to revitalize RASE's 1,047 acre Stoneleigh Park estate.
The 150-year lease of Stoneleigh Park which LIM has acquired will give LIM the ability to let and redevelop the estate, in accordance with RASE's "core purposes".
The deal benefits RASE by providing a pension-fund investment and an annual income for its charitable activities, and secures the future of RASE.
The Stoneleigh Park estate in Warwickshire accommodates 140 tenants from agricultural, horticultural, equestrian, animal welfare and rural organizations, including the National Farmers Union, the Agriculture and Horticulture Development Board, the British Equestrian Federation and the British Horse Society.
John Condliffe, partner in Hogan Lovells real estate team, said:
"This deal further strengthens our long-term relationship with LIM, for whom we acted on a number of transactions in 2010. This is a great way for both us and our client LIM to start the New Year, and I hope to work on many more projects together throughout 2011."
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