Maples Teesdale advise Amsprop on the sale and partial leaseback of The Crosspoint building at 34-37 Liverpool Street
Maples Teesdale acted for Amsprop on the sale of the freehold of The Crosspoint building to The Carlyle Group for circa £43m.
The newly redeveloped building is opposite Liverpool Street station. The ground and basement floor retail unit is let on a long term basis to Metro Bank and there are eight floors for office use. As part of the transaction Amsprop have taken a 999 year leaseback of the retail part of the property. The transaction completed on the expiry of the defects liability period for the redevelopment.
In addition to acting on the sale, Maples Teesdale have acted since the commencement of the redevelopment of the building in 2013: including producing a development constraints report; dealing with stopping up of highway and extinguishing of easements; and in advising in relation to planning and construction documents. Maples Teesdale also acted on the letting to Metrobank.
The Maples Teesdale team was led by commercial property partner Liam MacDonnell, with assistance from senior associate Sarah Greene and associate Samuel Sidenbladh. Construction advice was provided by partner Sam Nichols and associate Mary Romanov and planning input from partner John Bosworth.