A joint venture between a subsidiary of Helical Bar and affiliates of The Baupost Group has exchanged binding contracts to acquire the freehold interest in land and buildings at Bartholomew Close, Little Britain and Montague Street, for a cash consideration of £55 mln (EUR 64 mln). The vendors were St Bartholomew's Hospital (Barts) and The London Charity. The transaction is subject to further payments by the joint venture of up to £35 mln, which will be dependent upon the timing of vacant possession and the floor area of a planning permission being granted for redevelopment in the future.
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