Law firm Shoosmiths has advised independent sector schools group, Minerva Education, on leasing a landmark new site on Piccadilly which will boost the leading education group's London portfolio.
Adding to its existing group of five independent schools, Minerva has agreed a 30 year lease term on 106 Piccadilly, a 23,918 sq ft. Grade I listed building, opposite Green Park. Subject to planning, the site - currently Limkokwing University - will now be sympathetically restored to become a much-needed new independent senior school for London.
With launch anticipated in September 2017, the coeducational school will cater for up to 420 students aged between 11 and 16 years. This will provide a seamless secondary progression for students across Minerva's current preparatory schools, as well as from within wider central London and overseas.
Shoosmiths real estate partner, Matthew Walker and solicitor Sophie Boswell advised on the acquisition.
Tommy MacDonald-Milner, CEO at Minerva Education, said: 'Shoosmiths provided us with a seamless advice in negotiating the leasing aspects for 106 Piccadilly - a fantastic property right in the very heart of London.
'There is a gap in the market for a much-needed co-educational and academically non-selective senior school in the capital and there is no doubt this is the perfect location. It will make a convenient, accessible and stunning addition to our portfolio.'
Matthew Walker, real estate partner at Shoosmiths, added: 'It was a pleasure to advise Minerva on this strategically important acquisition in the heart of London. London is in need of more high quality co-educational independent schools and we wish Minerva every success with this important endeavour.'
Shoosmiths' real estate group is one of the largest in the UK, spread over eight offices from Scotland to the south coast of England. The group is made up of teams advising on real estate, construction, planning, property litigation, and environmental law.
Shoosmiths' clients include commercial and residential developers, investors, retail and leisure operators, social housing bodies, major corporate occupiers, banks and other funders and a range of public sector bodies.
Minerva was also advised by Hazelwoods tax advisers and surveyors, Tuckermans.