Davenport Lyons advises Evans Randall on the Purchase of Sovereign House for £27 million
19 Mar 2012
Law firm Davenport Lyons has advised the investment banking and private equity group, Evans Randall on the purchase of Sovereign House in London’s Docklands for a total aggregate consideration of £27,000,000.
The building, constructed in 2001, is used as a data centre by the tenant, a subsidiary of Telecity Group plc.
Davenport Lyons, together with Bedell Cristin in Jersey and Göhmann in Germany, advised Evans Randall on the corporate, property, investment, banking and tax aspects of the deal and the post-completion restructuring.
Michael Evans, chairman of Evans Randall, said: “This acquisition is further evidence of our commitment to London Docklands as a strategic investment location, and gives us exposure to the rapidly expanding data centre sector.”
Davenport Lyons’ team was led by Jonathan Metliss and John Hiscock with assistance from Marilyn Elstow (property), Sukh Ahark (banking), Gerald Montagu (tax), associates Natalie Wright and Alan Barnett, assistant James Ogilvie and trainees Russell Joseph and Matthew Vaggers.
Jonathan Metliss, corporate partner and Evans Randall relationship partner at Davenport Lyons, said: “This is the fourth successful deal that Davenport Lyons has worked on with Evans Randall. We look forward to strengthening and deepening our relationship with them.”
The seller, AXA Investment Managers Deutschland GmBH, was advised by SJ Berwin in England, Ogier in Jersey and Allen & Overy in Germany. The investors, two leading families from Saudi Arabia, were advised by Jones Day.