Pinsent Masons advises Hines on its Bond Street property acquisition

The deal, which is the first big ticket property transaction of 2019 and HEVF's first London acquisition, will see the company convert the site into a mixed residential and retail scheme with an estimated GDV of approximately £70 million.

The team at Pinsent Masons was led by real estate partner Richard Lloyd and included senior associate Emma Truss as well as construction legal director Kofi Atta, planning partner Nicholle Kingsley, associate Susanne Andreason and finance partner John Maciver.

Commenting on the deal, Richard Lloyd, said: "Set against the backdrop of Brexit, this transaction sends a powerful signal to global investors that the UK is still a lucrative hub with a thriving real estate sector.

"We are delighted to have advised HEVF on such a significant acquisition in the UK which will no doubt help to kick-start property investment in 2019."

Hines is a longstanding client for Pinsent Masons in the UK. Last year the firm advised Hines European Core Fund on the circa £50 million forward purchase of the Mint Building in St Andrew Square, Edinburgh. This high profile project was one of the most significant new office and mixed use developments in Scotland in recent years.

 HEVF fund manager, Paul White, said: "The acquisition of 354-358 Oxford Street is another example of HEVF's commitment to focus only on the best micro-locations within its target markets. The mixed-use components of this new project offer the fund strong downside protection during uncertain macroeconomic times."