20 March 2018
International law firm Withers has advised State Bank of India in a £300 million loan facility for the acquisition of The Old War Office, 57 Whitehall, London.
The landmark property, located in the heart of Westminster, was acquired by The Hinduja Group in partnership with Spanish development company Obrascon Huarte Lain Desarrollos. The site will be converted into a luxury hotel.
David Dannreuther, partner in Withers' banking and finance team, comments: 'This is a major project in the ongoing development of historic sites across central London. We are very pleased to have represented State Bank of India, who have been an important client of the firm for a long time, in this transaction.'
The Withers team was led by David, working with special counsel Morana Vucinic, associate Toby Joy and trainee Andrew Fremlin-Key, as well as real estate partner Paul Brecknell and associate Priya Sharma. The acquiring entity was represented by Norton Rose Fulbright LLP.
Withers has decades of experience of advising on the financing and development of high profile and complex property developments around the world. Current examples include the conversion of 27-35 Poultry into a luxury hotel, advising Soho House on the TV Centre development in White City, and representing Thor Equities on the acquisition of the owner of a major retail property on Via della Spiga in Milan.