Hogan Lovells Advises M&G Real Estate on £140M Acquisition
10 September 2014
LONDON, 10 September 2014 - Hogan Lovells has advised long-term client M&G Real Estate on the £140m acquisition of Two Snowhill, a 319,000 sq. ft office and retail scheme in the core of Birmingham's prime office district.
The 14-storey tower is home to law firm Wragge Lawrence Graham & Co. and serviced office company i2 Office; and will also house 1,500 HS2 staff set to be based in the city from 2016.
The strategic acquisition by M&G is in response to an increasing shortage of Grade 'A' office space in Birmingham, and the resulting prime rents.
Hogan Lovells London real estate partner Dan Norris led a team advising M&G, supported by senior associates Katie Nixon, Sian Owles (financial institutions) and Aaron Burchell (tax).
Commenting on the transaction, Dan Norris said:
"Located in one of Birmingham's most prestigious business areas, and benefitting from the timely opening of the extended metro route, this is an important strategic acquisition for M&G Real Estate. We are proud to have worked closely with our client to achieve a successful outcome on this transaction."