31 March, 2017
Baker McKenzie is advising Spring Real Estate Investment Trust ("Spring REIT") on its proposed acquisition of 84 commercial properties in the United Kingdom for approximately £73.5 million. The properties are being operated as car servicing centres principally under the brand "Kwik-Fit". This is Spring REIT's first proposed acquisition since its initial public offering, and the first by a H-REIT in the United Kingdom.
The mutli-discplinary and multi-jurisdictional Baker McKenzie team involved members from the Hong Kong and London offices, and also the Singapore member firm Baker McKenzie Wong & Leow. The Hong Kong team was led by Jeremy Ong, special counsel, as well as associate Caryn Ng in Singapore, advising on corporate and regulatory issues. The London team involved partner James Burdett, and associates Eric Lim and Lucie Rose in the corporate group; partner Stephen Turner and associates Peter Moules and Lucy Zhu in the real estate group; and partner James Smith and associate Matthew Lovatt in the tax group, among others.
The acquisition shall diversify Spring REIT's portfolio, which currently comprises of two premium grade office towers in China Central Place, a prime mixed-use development complex in Beijing.
