PRS deal of the year – Resi award

‘PRS deal of the year’

Advising Long Harbour on the purchase through to subsequent £60m sale of the ‘One Eighty’ development in Stratford.

The team led by Paul Harbour, were initially instructed to advise on the purchase, including financing, of the partially completed 26 storey residential tower, mixed use development, overlooking the Olympic Park.

Following the purchase, the team then advised Long Harbour in securing all remaining approvals necessary to complete construction.  Significant renovation was required before the building could be re-launched but in July 2014 it was rebranded as ‘One Eighty’. Four months later, the building was fully let. Paul and the team continued to work closely with Long Harbour, advising them on the subsequent £60m sale to Aberdeen Property Trust in what was the largest single asset residential deal of the year.

The transaction was voted ‘PRS deal of the year’ at the RESI awards 2016, with the judges praising the deal for its 'gutsy initial purchase and bold acquisition' .

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