Pannone Corporate has advised online fashion giant, Boohoo, on the acquisition of a new £72 million London headquarters.
The Real Estate and Corporate teams acted as legal advisers to Boohoo, which has purchased the high-profile offices previously occupied by Microsoft and Nokia. The team was led by Tim Hamilton, Corporate partner and Gareth Birch, Real Estate associate partner, with support from Barbara Wang, Danielle Amor and Helen Jadhav. Nick Davies, partner at Axis Property Consultancy LLP, acted as property consultant for Boohoo.
The six-story office building located at 10 Great Pulteney Street will become home to all London-based product, marketing, technology and central support teams – approximately 600 staff – as well as offering flexible working for Boohoo staff.
Gareth Birch said: “As a longstanding client, we’re absolutely delighted to have advised Boohoo on the acquisition of such a prestigious building in London’s West End.
“Boohoo is a real success story for Manchester and the North West and this latest move, which bolsters its expanding property portfolio and cements its presence in the capital, is testament to its exceptional growth in recent years and the boom in online retail, particularly over the last 12 months.”
The purchase of the 43,963 sq. ft. building, follows Boohoo’s acquisition of Debenhams out of administration and several Arcadia brands, including Oasis, Warehouse, Dorothy Perkins, Burton and Wallis, which significantly grow its presence in London.
Nick Davies added: “We were delighted to assist Boohoo in securing the premises, given the interest from other high-profile global brands. The premises is in the heart of Soho, providing a vibrant London West End headquarters building and a strong commitment to the city.”
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