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published DECEMBER 02, 2009

SJ Berwin advises The Crown Estate on the sale of Royal Mint Court

International law firm SJ Berwin’s real estate department has advised The Crown Estate on the sale of the freehold of the 5.5 acre Royal Mint Court complex near the Tower of London to a fund advised by Delancey Real Estate Asset Management (Delancey). Delancey will pay £51 million for the freehold, which entitles it to half of the £16 million rental income. The other half of the income goes to the headlease holder. Royal Mint Court comprises 460,000 sq ft of office space that is let to Barclay Bank and Old Mutual for a further four and a half years. The SJ Berwin team was led by real estate partner Jo Footitt, assisted by associate by Mark Mallon. Tim Westhead of Olswang advised Delancey.