International law firm Simmons & Simmons has advised JP Morgan Asset Management on the signing of a major design and build contract with Mace for the redevelopment of 65 Gresham Street in the City of London.
One of the largest "cut and carve" retrofit projects in the City, 65 Gresham Street is being transformed into a 400,000 sq ft Grade A office headquarters for tenant Squarepoint Capital. The building will have exemplary green credentials, retaining 70% of its existing structure and with 95% of materials being recycled or reused on-site.
Led by Partner Marianne Toghill, supported by Emilie Peach and Piers Awramenko, our team negotiated and drafted innovative, market leading provisions addressing construction risk allocation in respect of the extensive retained existing structure.
Execution of the design and build contract follows our advice on the construction aspects of the development financing arrangements, the agreement for lease with Squarepoint, and the enabling works contract with Getjar.
Commenting on the deal, Marianne Toghill said: "This is a significant redevelopment project in the heart of the City, combining complex engineering with a forward-thinking approach to sustainability. It has been a privilege to support JP Morgan Asset Management on a project that sets a new benchmark for retrofit office schemes and demonstrates the continued demand for high quality, sustainable workspace in London."
