Fladgate LLP acted for Flora Developments Limited, a subsidiary of ABIL Infraprojects Limited, India which is a large Indian construction, real estate development and hospitality company, for the acquisition of prime real estate in Central London known as Griffin House, 5/6 Strand, London WC2N 5HR for a purchase price of £92.5 million. The property currently benefits from existing mixed-use planning permission but may, subject to planning permission, be redeveloped for hotel use.
The deal represents an important transaction for the group’s expansion into the UK real estate sector.
Fladgate LLP advised on the property acquisition and all ancillary matters. A multi-disciplinary team was led by Sunil Sheth and Mythily Katsaris. It included James Fry, Luke Morris, Hamilton Forrest, Mark Harnett, Sophie Burke, Rebecca Tavares, Victoria Brownell, Ildikó Kozó, Adam Baker and Siobhan Doherty.