Russell-Cooke advises Tokoro Capital on refinancing of historic £130m Empress and Ada buildings in Mayfair London

Originally acquired by Tokoro Capital in 2021, the two interconnected buildings at 35 Dover Street and 15 Berkeley Street in Mayfair, London, have since undergone extensive refurbishment, achieving a valuation of £130 million. The Empress, formerly the site of The Empress Club - the UK’s first women-only members’ club, inaugurated by Queen Victoria - and the adjoining Ada building have been sensitively refurbished into high-specification office and retail space in the heart of Mayfair. The buildings are now home to a diverse group of tenants, including Bradesco Bank, House of Julius Meinl, Lévy Gorvy Dayan and Nammos restaurant.

The Russell-Cooke team assisted on the real estate side of the transaction and was led by partner Neil Dryer and associate Rohan Bhasin, supported by associate Atif Rashid. Russell Cooke’s work to date in advising Tokoro Capital on the asset management and green leasing of both buildings has culminated in Tokoro Capital securing a green loan with Aareal Bank. 

DLA Piper and Ogier acted for Aareal Bank. Tokoro Capital was also advised by CMS, London, Mourants, Jersey and Goodwins, Luxembourg.

This follows Russell Cooke's work advising Tokoro Capital, in partnership with Homie, on the acquisition of Leazes Parade, a student accommodation site in Newcastle. 

Russell-Cooke is referenced in a recent Green Street News article on this announcement, available to subscribers here.