Stephenson Harwood advises on strategic data centre disposal in London
16 May 2012
International law firm Stephenson Harwood has advised Eurohub Hosting Limited on the letting of one of its London based data centres to a major US hosting company. Stephenson Harwood subsequently advised Eurohub on the sale of the data centre investment to Securus Data Property Fund Pte, a Singapore headquartered data centre fund.
Eurohub Hosting Limited is a UK data centre operator, which offers a range of IT-related support services including secure facilities to house business IT systems and infrastructure. The purchase of the 11,000 sq ft data centre in London's Canary Wharf, provides Securus with its first UK acquisition.
Jonathon Wilkes, head of the real estate group at Stephenson Harwood commented: "We are pleased to have been involved in this challenging and complex cross-border investment transaction, which allowed us to demonstrate our international real estate, financing and structuring capabilities. We look forward to continuing to work with Eurohub as it continues its European data centre development programme."
Damon Williams, chief executive of Eurohub, said: "Stephenson Harwood acted on our behalf regarding this complicated, international multi party, lease agreement and simultaneous share sale transaction. Their experience in the data centre field meant they drove legal and commercial negotiations from the outset, allowing us to concentrate on our core business. Despite the complications faced with opposing timezones, they completed the transaction on time and to budget. We have already engaged Stephenson Harwood on our next two developments and would not hesitate to recommend them to our partners."
The Stephenson Harwood team was led by Jonathon Wilkes, assisted by Simon Brading, Rebecca Clark and Will Mann.
The Stephenson Harwood real estate group comprises over 40 lawyers and 13 partners who advise on investment acquisitions and disposals, development projects, joint ventures, fund and tax structuring, property litigation, real estate finance, asset management and landlord and tenant matters.