Global law firm Ashurst has advised Invesco Real Estate, the global real estate investment manager, on the sale and forward fund of 40 Eastbourne Terrace to Universities Superannuation Scheme Limited at a price of £143 million.
Following completion, Invesco Real Estate will remain connected to the site as developer, to deliver a new 366-bedroom hotel and restaurant as part of the major mixed-use development, led by the property development and asset management company YardNine, at Eastbourne Terrace, London.
The Ashurst team was led by partner Melanie Jordan, assisted by senior associate Chloe Marshall and associate Miles Oakes. Construction advice was provided by partner Ben Patton, assisted by senior associate Chris Whitehouse, and advice on planning matters was provided by counsel Charlie Reid.
