Firm News

Mishcon de Reya advises Earls Court & Olympia Group on the sale of part of Chiswell Street Brewery Site, London EC1 to Guestinvest

Release Date:

20 October 2006

Mishcon de Reya, acting for the Earls Court & Olympia Group has completed the sale to aparthotel operator Guestinvest of the vacant areas abutting The Brewery site, Chiswell Street, London, EC1 for £27.5million.

Having acted for Earls Court & Olympia Group in October 2005 when they acquired The Brewery site and adjoining properties from Whitbread Plc for £55million, Mishcon de Reya has dealt with a series of transactions including the July sale of the properties occupied by the Brewery to Matrix Group by way of a sale and leaseback. The total property related proceeds realised so far from the acquisition amount to over £65million with further sales and development plans to be announced

The Mishcon de Reya team was led by real estate partner Daniel Lipman assisted by senior associates Arnaud Montagna and Karen Milne. 

Anthony Lyons, Chief Executive of Earls Court & Olympia Group, believes the new Guestinvest aparthotel will be an excellent complement to the Brewery’s increasingly successful conference and banqueting business.

“As the City’s premier conference and banqueting venue, the Brewery’s business continues to go from strength to strength.  We recently completed a refurbishment of the venue, as part of a £2.5m investment in the site, and the development of an aparthotel will not only add a valuable new facet to the Brewery’s offer, but will also provide a much needed facility for the area as a whole.  We are delighted to have Mishcon de Reya as part of our team and their commercial approach has contributed to the success of this investment.”