Wragge & Co LLP Real Estate group has advised Ballymore Properties Limited on the latest pre-let deal for its high-profile Birmingham Snowhill development. Under the agreement, Barclays Bank plc will take two 15-year leases of more than 98,000 sq ft at One Snowhill.

The Wragge & Co team comprised commercial development and investment partner Peter Thorne and associate Rita Vartoukian. Denton Wilde Sapte partner Chris Denny advised Barclays Bank.

Peter Thorne said: "The Barclays deal is an important step in this landmark development. Our expertise in large-scale, complex developments and close relationship with Ballymore ensured this deal completed within just two months."

Richard Probert, Ballymore's Project Director for Snowhill, commented: "We are delighted to have secured Barclays as our latest prestigious occupier for Snowhill following a highly successful pre-letting campaign.  This third major pre-let further validates our vision for Snowhill as a world class business and professional services centre in Birmingham which focuses on meeting occupiers' needs.

"We are confident that other occupiers will seize the opportunity to take up the remaining space in what has become the most attractive business location available in Birmingham city centre."

Ballymore's £500 million Snowhill development is one of the largest redevelopment projects underway in Birmingham. Once completed, it will create a new city centre business district boasting Birmingham's tallest residential tower, the city's first five-star hotel and two office buildings at One and Two Snowhill.

The Barclays deal takes the total space pre-let to 470,000 sq ft. KPMG has already agreed a deal for 120,000 sq ft of One Snowhill. Wragge & Co will take up to 250,000 sq ft space over 11 floors at Two Snowhill. One Snowhill is expected to be completed in 2009 with Two Snowhill following in 2011.

Ballymore is an international property development, investment and property management group, specialising in large scale mixed use developments in urban areas. The company has principal offices in Dublin and London together with offices in Slovakia, the Czech Republic, France and Hungary. Founded 25 years ago by Sean Mulryan, Chairman of Ballymore, the company has grown rapidly in recent years.  Wragge & Co's Real Estate group has an ongoing relationship with Ballymore.

With 200 lawyers working across 15 specialist areas, Wragge & Co's 30-partner Real Estate group is one of the largest full-service real estate practices in the UK. In July 2008, Wragge & Co and Ballymore both picked up awards at Property Week's Midlands Property Awards. Wragge & Co was named Consultant of the Year, while Ballymore won Commercial Development of the Year and Mixed-use Development of the Year for its Snowhill project.

Other highlights in the last 12 months include acting for Development Securities PLC on its acquisition of a 1.5-acre site in Hammersmith to develop a 360,000 sq ft mixed-use scheme worth £250 million. Real estate experts also advised the Walls Group on a landmark redevelopment in Manchester and helped DTZ agree its lease for new global headquarters in the City of London.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.