International law firm CMS has advised international property and infrastructure group, Lendlease, on a long term strategic 50:50 partnership with Canada Pension Plan Investment Board (CPP Investments), one of Canada’s largest pension investment managers, for the development and ownership of a new office-led neighbourhood at International Quarter London (IQL).
Situated at the gateway of the Queen Elizabeth Olympic Park, IQL is located in Stratford, London which has continued to transform into a vibrant hub for creative industry, innovation and business in East London. The IQL development is home to world-class institutions such as Transport for London, Cancer Research UK, the British Council and Unicef.
The new partnership is expected to provide a total development area of 1.6m sq ft when fully developed, with an estimated gross development value of approximately GBP £1.5bn.
Chris D’Emanuele, CMS Real Estate partner, comments: “We have acted on IQL for Lendlease for many years and are delighted to have been able to support on the next stage of its transformation. This new development further bolsters the important position IQL occupies in East London as a home for progressive business and innovation.”
The CMS team was led by Chris D’Emanuele and Darren Stolzenberg, and included Will Lawrence, Tanveer Tarafdar, Ellie Mends, Alan Omogbai, Aamir Khan, Phoebe Puttock and Santi Bicchieri (Funds and Indirect Real Assets); Keith Barber and Josh Kaiser (Real Estate); Alistair McGrigor, David Young and Olivia Malek (Construction); Phil Anderson and Katy Webb (Tax); Emily Pepper (Employment); and Louise Gellman and Melanie Worsdall (IP).
