Derwent London plc (LSE:DLN) agreed to acquire site above Tottenham Court Road station, W1 from Crossrail Limited for £55 million on July 14, 2015. Under the terms of the deal, Derwent will not pay for the site until development is completed, following which it will pay Crossrail a ground rent of 5% of the total rent roll in the commercial space, as well as 16% of the development profit. As of February 2016, £2 million has been paid, a further £5 million will be payable on release of the site, with the residual £48 million payable on practical completion of our buildings. Jane Edwarde, Simon Bartle and Mark Gulliford of Slaughter and May acted as legal advisor to Derwent London. Derwent London plc (LSE:DLN) completed the acquisition of Site Above Tottenham Court Road station, W1 from Crossrail Limited on January 17, 2018.