Law firm Stephenson Harwood LLP has advised Schroders Capital Real Estate Fund (SCREF) on the £115 million sale of One Ruskin Square, Croydon to HMRC.
One Ruskin Square is a nine-storey office and is the site of HMRC's Croydon headquarters, following the grant of a 25 year lease issued to HMRC in 2017. Ruskin Square is the location of a new government hub, with the adjacent building 2 Ruskin Square being occupied by the Home Office.
This is a key transaction for both HMRC and SCREF, an important client in the firm's private capital and funds group. The team has advised the client on the strategy and structure of the transaction through to completion, leading on negotiations for all transactional documents, and providing advice to the client throughout against the context of the wider Ruskin Square development.
The Stephenson Harwood team was led by head of real estate Simon Brading, who was supported by managing associate David Wheat. Partner Kate Worthington advised on tax matters in relation to the transaction.
