DLA Piper has advised leading Out of Home media company Ocean Outdoor on the milestone upgrade of the iconic Piccadilly lights site in London, owned by Land Securities.
Real Estate partner Paul Jayson advised Ocean Outdoor on commercial and real estate matters arising from the project, which will see the current screens replaced with a single state-of-the-art LED digital screen and live technology hub. A number of global brands including Coca-Cola Great Britain and Samsung have already announced their commitment to the site.
The iconic site, originally built in the early 1900s, is set to close in January 2017 for several months as it undergoes works.
This follows a number of other prominent projects on which DLA Piper has advised Ocean Outdoor, including Westfield shopping centres in London, most recently in 2015, and the newly developed Birmingham New Street station, also in 2015.
Paul Jayson commented:
"The Out of Home digital advertising sector continues to thrive, and Ocean Outdoor have consistently led the way. The newly renovated site will bring next-generation interactive technology to one of Europe's most recognisable landmarks and we are delighted to have been involved with such a cutting-edge project."
Tim Bleakey, CEO of Ocean Outdoor said:
"This is a unique asset and a unique project, and as such we were pleased to engage the specialist expertise of Paul and his team at DLA Piper, with whom we have built a great relationship over the last 10 years. It required key insight in to real estate deals with a media twist, and we would not have dealt so swiftly without the service from Paul."