Cases & Deals

British Land sells 75% interest in London's West End offices for £401 million

Client(s) British Land Company PLC, The

Jones Day advised The British Land Company PLC on the sale of a 75% interest in a portfolio of three buildings in London's West End to Allianz Real Estate for £401 million. The transaction represented a blended net initial yield of 4.32%, a premium to September book value. The portfolio included three buildings, 10 Portman Square, Marble Arch House, and York House, all of which are in Marylebone.