International law firm Osborne Clarke has advised long standing-client Vodafone on the sale of its business campus in Newbury, UK called The Connection. It has been purchased by clients of IQON Capital and Oval Real Estate who plan to upgrade it into a world-class business and innovation campus.
As part of a sale and leaseback, Vodafone has entered into long-term leases on four of the seven buildings at the site confirming its ongoing commitment to Newbury.
The Osborne Clarke team that advised Vodafone included Corporate Real Estate Partner Alison Riddle and Associate Svetlana Kisyova; Legal Director Catherine Gunz and Associate Hayley Batki in Real Estate; Partner Tracey Wright and Associate Director Alex Makinson in Tax; Partner Mark Taylor, and Associate Director Georgina Graham in Commercial; and Partner Paul Killen and Associate Director Leanne Coates in Employment.
IQON Capital has closed the acquisition of The Connection business campus for Aljazira Capital, with Oval Real Estate acting as Asset and Development Manager.
Located in Newbury, Berkshire, the campus comprises seven office properties where Vodafone UK has been based since the early 2000s. The seven properties have a net internal area of 486,810 sqft (45,226 sqm) and are set on 38 acres (15 hectares) of landscaped grounds.
Vodafone was advised on the transaction by Colliers, with Chris Lewis, Head of Office Investment and Rob Campkin, Head of Corporate Capital Solutions.
Addleshaw Goddard acted as legal advisers of the purchaser, while JLL acted as Debt Brokers and Savills as Technical Due Diligence Advisor in the transaction.
Osborne Clarke is a future-focused international legal practice with over 900 talented lawyers and more than 270 expert partners based in 26 international locations around the world. Our expertise is in eight core sectors including both Tech, Media and Comms and the Built Environment.