20 September 2018

Carey Olsen advises Singapore family office on £180m London property deal

Carey Olsen has advised Singaporean ultra-high net worth family office Pacific Eagle on the £180 million purchase of Belstaff House in London, which was completed by way of acquisition of a Jersey Property Unit Trust (JPUT).

The property at 135 – 137 New Bond Street is a Grade II listed building and home to luxury clothing brand Belstaff's flagship London store.

Partner Robert Milner led the Carey Olsen team advising Pacific Eagle and was assisted by David Patterson and Richard Macfarlane. Working alongside onshore counsel Clifford Chance, the firm advised on all Jersey legal and regulatory aspects of the purchase.

Robert said: "We were delighted to advise Pacific Eagle on this major real estate acquisition, which once again highlights the popularity of JPUTs to hold interests in UK commercial real estate."

JPUTs (Jersey Property Unit Trusts)

To find out more about JPUTs, their benefits and their regulation in Jersey, please refer to our Guide to JPUTs or contact Robert Milner.