Boutique Jersey law firm, Ward Yates, in conjunction with international law firm, Berwin Leighton Paisner (BLP), has acted for UOL Group Limited (UOL), a Singapore property company listed on the Singapore Exchange, on its corporate acquisition of Heron Plaza for £97 million.
The transaction represents UOL’s first foray into the London market and is the first time they have used a Jersey structure. The prime freehold site on Bishopsgate in the City of London has planning permission to be developed into an iconic 43-storey tower comprising residential units for sale, a five-star luxury hotel and a retail component.
UOL successfully secured Heron Plaza against stiff competition from a number of high-profile bidders with the transaction being completed within 15 working days.